Testimonials

Australian Education and Leadership Centre

The Australian Education and Leadership Centre engaged the services of the CFO centre early in 2013. It was the first time we had come across such a service however it was appealing for both its’ flexibility and focus on financial strategy.

Anne-Marie was our consultant and she proved herself very quickly as a trusted advisor and confidante for myself as CEO. I found her both insightful and strategic in her approach to everything we did. I estimate her advice saved us 100’s of 1000s of dollars and allowed us to fully appreciate our financial position for the first time in the business’s history.

As a family business she was able to negotiate the politics of a husband and wife directorship with astonishing aptitude. Her complete attention to detail enabled me as CEO to concentrate on the business of doing business.

I would highly recommend Anne-Marie as a CFO and commend the Centre for its work in the field.

Tracey Hodgkins, Director and CEO, The Australian Education and Leadership Centre

By engaging the CFO Centre only seven months ago, RAQ have progressed in maturing financial information and accuracy at a more rapid rate than it could have achieved alone.

Our business has grown threefold over the last six years however our financial systems and
processes had not matured at the rate required to assist this much larger organisation. Claire Davis from the CFO Centre coached the Finance team, reviewed our processes and implemented more appropriate work practices and checklists resulting in greater accuracy and efficiency. One of the most welcoming outcomes is we now have our end of month figures in half the time.Engaging the CFO Centre has been an investment into our business: we now enjoy new financial reports which have assisted us to make more informed decisions and understand the risks associated with the choices we make. Rolling three year forecasts combined with business modelling have provided greater visibility to the impact of the decision options we have before us. Their support helped us to take action to improve our surplus for the year, think strategically about the future giving the Board and the Executive team more confidence in the financial information and advice provided.

Rachel Cowan, Relationships Australia QLD

Three of us started this business in Jan 2014. Like a typical start up, at the initial stage, we had a good in-house accountant who was able to take care of basic accounting functions. However, we were a fast growing business, and had very clear vision of our medium and long term goals & requirements.

We were feeling the gap of having a CFO on board, but due to constraints, and also being able to have enough to do for a full time CFO, we were at a catch 22 situation. We wanted the skills sets of a CFO coming from a Corporate sector, yet we didn’t have enough to offer. The initial reasons for bringing in an CFO were to bring that experience, that management and oversight role to the in house finance function. We needed to sharpen our financial analysis in order to grow and meet our ambitious plans for the future. Also to make sure that our basic processors were doing what they should be doing.

Actually we were looking for a “part time CFO” who will think like a “Full time CFO” for the company….

I did some bit of search on Google and came across the firm called “CFO Centre”. Found that they were offering a solution, which probably best meets our requirement. And we got talking… and closed the deal over one meeting & few phone calls thereafter !

We chose CFO Centre because of the depth of their network and the success it has achieved all over the world. We are really happy with the decision as Rajarshi (the CFO from their panel ) has provided us the confidence to take aggressive /key decisions. He had to initially spend time to clean up our accounts but post that we are on track. He has set up processes, tightened our internal controls and have also streamlined our cash flows . His greater value is in the strategic advice, the analysis of the management accounts and the way he interacts with the other directors. We had an initial contract for an year but we have no extended the contract for one more year . Having Rajarshi on board strengthens our belief on the growth of the business.

I would heartily recommend taking on a part-time CFO from CFO Centre. I would say that businesses ought to be specific about what they want, obviously choose the right individual and it will definitely benefit your business in the long run.

If you look at the headline cost they can seem high initially. However when you look at a value a part time CFO brings and the low risk attached to it, I think most businesses will find they can get immediate returns on their money spent.

Sanjoy Chakrabarty
CEO- Founder
Graphene Media P Ltd

Challenge:
Amplifier Agency Pty Ltd specialises in providing custom built mobile application solutions for international and Australian clients. Its two enterprises are a cross-platform shareable app called “Snapps” and an interactive music platform for mobile devices – “AirJ”. Amplifier also has other systems in development and is at the forefront of burgeoning mobile applications technology. Due to the success of these leading-edge technologies, the company was experiencing rapid change, growth and operational frustrations. As a result, it required new direction, additional resources and the expertise of a finance executive. CEO Adam Friedman has a strong background in marketing and advertising and is highly creative and interpersonal, but he needed direction financially on how to adopt a cash-flow strategy and reporting structure to manage expansion while mitigating risk. He also needed to free up his time in order for him to focus on the running of his business. Adam had been working with an accountant, who was providing him with advice on past and historic information which was of no value to him. While Adam was working with a number of industry specialists, they lacked commercial experience on a strategic and operational level. Essentially, Adam needed a value add solution that would enable him to grow his business, improve current processes so that he could reap the benefits of his innovative technology-based product while it was “hot” and a market leader.

Solution:
CFO Centre provided Amplifier Agency with insight into how to best manage change and growth. In order to formulate a clear picture, the part-time CFO took Adam through the CFO Centre’s 12 Step Model in order to clearly identify those areas within the business that needed improvements. The CFO developed a robust financial reporting system that provided Amplifier with reporting structures to measure financial results against budgets and forecasts on a monthly and quarterly basis. He extracted current financial data from Amplifier Agency’s reporting system and provided strategic direction for the CEO, from which he would use to make important operational decisions, solve problems and identify lucrative sales channels. Having identified weaknesses in the reporting of financial information, The next step was to provide for a funding strategy for the company’s growth, based on four levels of planning, 12 months, five years, 10 years and finally, an exit strategy. The CFO incorporated the total strategic assumptions together with connected financial data to create a medium and long term strategic model for the organisation. From here, they were able to obtain a very realistic view of the resources, marketing and cash flow requirements needed to plan the future stages of growth. The CFO then introduced Adam to a select group of venture capitalists and investment banks as they negotiate a funding and strategic plan to grow the company to its next and future stages.

Result:
The CFO Centre has now created clear pathway that will support the Amplifier Agency’s products and services and allow expansion given the current opportunities within the mobile applications market. With technology-related businesses, timing is essential, so the forming of a strategic relationships with CFO Centre`s key distribution partners will also fast-track Amplifier`s growth and market positioning to expand beyond its current customer base. The CFO Centre is not just providing operational solutions to the business`s positioning, but is also providing valuable, multi-faceted strategic solutions as the business grows. The Amplifier Agency can incrementally make use of the CFO Centre as the business and its products develop on an ongoing basis.

Amplifier Agency creates innovative shareable smartphone apps for a wide range of businesses, brands and broadcasters that drive sales and create new mobile marketing opportunities. To find out how your business will benefit, call Amplifier on (03) 9690-1010 or email [email protected]

From the CFO:
“As a startup, the Amplifier Agency had a solid foundation for growth given the marketing and technology background of its CEO, Adam Friedman. In order to expand on its market leading products and skills, a change of mindset and strategic approach was needed to ensure the business can achieve success with its next stage of growth. This included assessing the resource, reporting, funding and internal controls within the business and adopting a hands-on approach to improve current processes. Once these weaknesses were identified and acted upon, Adam received clear and transparent reports, a manageable cash flow tool and improved resource structuring to streamline the way the business operated. The immediate effect of these changes ensured Adam had more time to run the business and focus on his strategic goals and positioning. Following the successful improvements to the operational side of the business, I continue to work strategically with Adam on a monthly basis as we steer the business to higher growth through prudent strategic alliances and best practices for leveraging off his market leading products.”

Adam Friedman
CEO, Amplifier Agency Pty Ltd

“Our part-time CFO has been a very valuable resource for us at Amplifier Agency. We were experiencing rapid growth and the growing pains that go along with it, and he stepped in as a virtual CFO and was able to assist us in a number of key financial and strategic areas. In addition to providing insight into how best to manage the growth and structure of our enterprise and leverage our unique platforms, he also connected us with key industry investors and clients, which has helped us considerably in moving to the next stage of our business development. Our part-time CFO consistently adds value and I look forward to our continuing fruitful business relationship. I highly recommend The CFO Centre and greatly appreciate their efforts to date.”

We started this business in mid 2015. After outsourcing accounting functions for a few months, we hired an accountant who was able to take care of basic accountant functions.

A full-time CFO being prohibitive at this stage and a clear gap existing given it's needed to help us in areas beyond pure accounting and other day to day tasks, and helps us grow in a compliant manner, we were looking for someone who can fulfill this need on a part-time basis with a full-time bent of mind when it came to the company's interests.

One of my good friends, Rajarshi Datta, the Country Leader for "The CFO Centre" one day called me and helped me understand about what they do. I found that they were offering a solution, which probably best meets our requirements. And we got talking, we closed the discussion with a scope of work and commercials which were within our reach.

We chose The CFO Centre because of their credentials, their network and global success and most importantly the value brought in by Rajarshi and Rajesh, the two CFOs from their panel. It has provided us further confidence and boost to execute on our startegic plans. We have an initial contact for one year as of now.

I would like to recommend taking in a part-time CFO from The CFO Centre given the value it provides at a fraction of the cost of a full-time CFO.

Kaustav Das
ralph&das Director & CEO

NitroSell ­eCommerce solution

NitroSell is a global leader in providing integrated ecommerce solutions for independent retailers. David Hyland set up internal processes to ensure that we have clear monthly accounts and financial reports for the Board. David is an excellent conduit between us and our investors and ensures business-critical information is regularly available to successfully manage growth. I recommend David for his combination of business vision and practical hands-on financial expertise.

Donogh Roche ­ President and CTO