News

NEW YORK, NY – (July 26th, 2021) CFO Squad, a premier provider of outsourced CFO and financial business services to both private and public companies, has announced that it will now be providing a comprehensive suite of back office accounting services.

This client-customized solution utilizes a custom-tailored, cloud-based technology backbone and unifying dashboard with tools giving management much needed insight—all supported by a team that can provide accounting, budgeting & modeling, cashflow management, managerial tools, finance assistance, tax compliance and other services.

According to Yoni Novak, CPA and Senior Manager of CFO Squad’s Back Office Accounting division, the potential benefits of this new service are considerable:

• Reduced overhead
• Availability of a team of experts
• Increased efficiency
• Enhanced tax and regulatory compliance
• Increased transparency
• Greater managerial insight and control
• Close and ongoing consultation with accounting experts

“Small and mid-sized businesses need to be efficient with their operations. Bringing the entire back-office function into a one-stop solution saves our clients time, and enables our clients to more extensively benefit from our ‘been-there-and-done-it’ expertise and experience,” Mr. Novak said.

Although CFO Squad’s automated accounting solution could be deployed in stages over time, Yoni typically recommends that his clients “go all in, so there is no confusion about who is doing what and nothing slips through the cracks. These new tools make it easier for our clients to be successful.”

He noted that his clients’ most pressing concern was the need to access timely and accurate financial information that could enable smarter, data-driven decisions— “exactly the kind of consultative value we’ve been providing for years.” Clients also expect their back-office system provider to have an in-depth knowledge of their industry, to ease and expedite the transition. To address that concern, Mr. Novak cited CEO Squad’s many years of consultative experience across a wide range of industries, including healthcare, biotech, retail, R&D, SaaS, real estate, manufacturing, wholesale distribution, and more.

“Everything in a business is inextricably interlinked with good accounting practices,” Yoni explained. “For example, accurate bookkeeping and accounting are essential for tracking and analyzing income, expenses, budgeting—and for tax preparation. Accounts Payable and Accounts Receivable are crucial for healthy cash flow management that avoid credit and debt problems. Bank and credit card reconciliation are essential for financial insight and security. “From my point of view, it’s really a no-brainer: the simplest way to improve your organization’s chances of success is to focus on getting the best accounting services to optimize your finances. For companies that are ready to fully automate their process, our automation team can assist with either recommending software or internally developing the required software.”

As a fully integrated solution, CFO Squad Back Office Accounting provides a dedicated client service team to support a comprehensive spectrum of back office needs. These service includes: full month-end close and reporting, full accounting information for annual tax and regulatory filings, monthly forecast updates, a Key Performance Indicator (KPI), executive dashboard, payroll processing, risk & compliance support, accounts payable/accounts receivable and revenue accounting, all closely managed by an experienced CFO Squad accountant. To learn more about CFO Squad’s back-office accounting and/or other services, please visit: www.cfosquad.com, or 845-613-3394.

ABOUT THE CFO SQUAD

The CFO Squad is an accounting consulting firm that specializes in financial reporting, technical accounting research, tax compliance, and CFO advisory services for companies of various sizes and industries. From complex technical accounting transactions to periodic financial reporting, our professionals provide organizations with specialized expertise and multi-layered skill sets that can raise the bar on process improvement, quality, and profitability. To learn more, please visit: www.cfosquad.com, or call us at 845-613-3394.