AI for Accounting and Finance Blog

[Podcast] Client Accounting Services Best Practices with Michele Maybaum of Raich Ende Malter

Posted by The AI in Accounting Podcast on Sep 23, 2020 7:30:00 AM

Michele Maybaum has over 25 years of expertise in the world of client accounting services. At the young age of 14, Michele Maybaum used to help her father with bookkeeping and found a true passion for helping clients find solutions. Michele loved listening to the stories of how her clients started their businesses, and she had hopes of being part of the solution to the issues that stood in the way of her clients’ business ventures. 

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Topics: Outsourced CFO, Podcast, Client Accounting Services Best Practices

The Future of Outsourced Accounting and Accounting Technology

Posted by Rachel Schwartz on May 13, 2020 7:30:00 AM

Accounting Automation is Accelerating from 0-60

Even before COVID-19, the accounting industry was already on track to change more in the next 12 months than in the previous 12 years. Automation driven by artificial intelligence (AI) and machine learning (ML) is completely disrupting how accounting firms market and deliver their services

At a recent webinar, we asked the question: How important is accounting automation to the future of your firm? We found that 88% of attendees said automation is hugely important to their firm's future. However, historically clients have looked for accounting firms with a local or regional presence.

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Topics: Accounting, State of Client Accounting Services, Outsourced CFO

[Podcast] Outsourced CFOs on Tech That Works for Them and Their Clients

Posted by Rachel Schwartz on May 6, 2020 7:30:00 AM

Early Growth Financial Services Uses Accounting Automation to Help Them Win

Every week, marketing and podcast guru and host Joshua Feinberg talks to industry leaders in the accounting world to get their take on how automation, AI and technology are transforming the profession.

But more than just getting entrepreneurs and executives to talk in sound bites, he does an amazing job of getting them to open up about the hardest part of deploying technology: the specific how to's.

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Topics: Accounting, Artificial Intelligence, State of Client Accounting Services, Outsourced CFO,, Podcast

Should Outsourced CFOs Review Expenses Line By Line?

Posted by Joerg Joergensen on Feb 5, 2020 7:45:00 AM

In the olden days, accountants wore a green eyeshade and looked for every infraction, down to the penny. But with today’s large, high volume transactions, is it worth doing a detailed review of your client’s expenses? The answer is a resounding, maybe, as long as you are looking for the right expenses.

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Topics: Outsourced CFO

Which Contracts Fractional CFOs Need to Review

Posted by Joerg Joergensen on Jan 29, 2020 7:30:00 AM

One of your first jobs as a fractional CFO will be to understand the inflows and outflows of the organization. But what lies behind your client’s revenue and expenses? In a word, contracts. The business world no longer runs on handshakes, but on lengthy, complex, written documents that you should review.

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Topics: Outsourced CFO

When Should an Outsourced CFO Meet with Banks, Accountants, Insurance Brokers, and Other Advisors?

Posted by Joerg Joergensen on Jan 22, 2020 7:45:00 AM

Whether you’ve just started as an outsourced CFO or you’re an old pro, you’ll always find a fresh perspective by interacting with your client’s business partners. Insurance brokers, bankers, and vendors can provide a unique viewpoint that is hard to find inside your client’s office. 

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Topics: Outsourced CFO

How Outsourced Chief Financial Officers Analyze the Balance Sheet

Posted by Joerg Joergensen on Jan 15, 2020 7:15:00 AM

The balance sheet contains a wealth of information and tells a story about your client’s business. But are your clients looking at the story behind the numbers? Accounts receivable, inventory, and other assets and liabilities will paint a picture of what’s going well - and what hidden factors need addressing.

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Topics: Outsourced CFO

Do Outsourced CFOs Really Understand Payroll?

Posted by Joerg Joergensen on Jan 8, 2020 6:45:00 AM

Labor is typically the largest expense for a business, often comprising between 50% to 70% of the company's budget. Unless you validate current wages, time and attendance, and market comparisons, your client’s company may be paying more than necessary.

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Topics: Outsourced CFO

Fractional CFO Tips for Creating a Financial Forecast

Posted by Joerg Joergensen on Jan 1, 2020 7:45:00 AM

It’s important to live in the moment, but successful companies must also predict their future. A fractional CFO is a valuable asset to any management team that depends on a sound forecast to make critical business decisions for the next quarter, year, and beyond.

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Topics: Outsourced CFO

How Virtual CFOs Analyze Profitability on Financial Statements

Posted by Joerg Joergensen on Dec 26, 2019 8:43:00 AM

Profitability is just one of the many goals of a successful business. But even the best CEO may be in the dark when it comes to knowing if their business is sailing along - or quietly sinking. That’s why an outsourced CFO can be a valuable asset to a management team.

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Topics: Outsourced CFO

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