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There are Three Core Functions of finance that are necessary for any business to be successful. In order to scale a business successfully, it is vitally important to ensure that these three functions remain in balance to maximize profitability.
Keeping these functions right sized for any organization requires experience. That is where Rising Tide Accounting can help! Our background and experience working in a multitude of industries in all phases of business gives you a head start on your growth and allows you to scale quickly and affordably.
Understanding these Three Core Functions also allows us to plug into your existing team. The RTA Team is capable of handling all three functions, or if you already have a bookkeeper or accountant, no problem. We can work with them and simply add the Controller and CFO functions you need to round out your team.
Our services are completely scalable and flexible depending upon your unique business needs.
The CFO function is about utilizing the historical 'backward facing' data to evaluate business decisions and create projections and 'forward facing' reports.
Functions include: Measuring and reviewing performance reports with executive team, analyzing credit options, and projecting financial needs.
The Controller function makes sure the systems support the Accounting and CFO functions and is to track and report data in the needed manner.
Functions include: implementing and maintaining cost controls, preparing management reports, and overseeing the Accounting team.
The Accounting or Bookkeeping function is really about making sure data and details are captured and tracked accurately and consistently.
Functions include: entering data (bills, invoices, etc), processing payroll, filing tax reports, and reconciling bank or credit card accounts.
Working with RTA, business owners gain access to our experienced team at a FRACTION of the cost if comparable employees were hired to perform the same functions.
Schedule your FREE Strategy Consult to learn how we can help you grow your business today.
Our first step is to invest some time to understand your business and the goals you want to achieve for yourself through your business.
We begin by getting an initial baseline of your current operations and discuss anything we can mutually identify as potential areas for improvement.
The take away from this conversation is to identify ONE Clear Objective. This might be to pay down or pay off liabilities, prepare your business for sale or your exit. It could also revolve around growth objectives like increasing bonding capacity to bid larger projects, optimizing unit economics, or budgeting and cost controls.
With this ONE Clear Objective, we have what we need to provide a scope of services and a quote.
If it still makes sense to work together, we review the systems and info we need to collect, establish a timeline, then get started with the handoff. From there, we get to work.
It really is that simple.
At this step, with so many details to coordinate we work closely with you and your team to make the transition as smooth as possible.
During this phase, we execute we scope of work we agreed upon in the previous steps and work toward your objectives.
At this stage, we are executing the work, monitoring and measuring the progress, and working with you to adjust and refine everything along the way.
As we make progress toward and achieve your ONE Clear Objective, we might start the process again to make sure we keep building upon your progress.
Schedule your FREE Strategy Consult to learn how we can help you grow your business today.
Rising Tide Accounting helps you understand the story in your numbers to make better decisions, grow quicker, and achieve objectives.