Non-Profit Client Stories:
Helping innovators and entrepreneurs get a start in the highly competitive world of technology is a massive undertaking. Being a non-profit company comes with a whole different set of rules and accountability. Combining these two concepts into one company is overwhelming.
When a company formed in Columbus to be “a catalyst for tech-based development by turning creativity to economic growth,” it was, the CEO allows, “fun, challenging…and risky.” The company was the result of a merger, and it was immediately apparent that they would need someone to help integrate two very different financial models. The accounting firm recommended Focus CFO. The company went with the recommendation, and adding those skills allowed them to have consistency and control over processes that may otherwise have gone unchecked.
“We got precisely what we needed,” states the CEO. “We didn’t need a full-time CFO, but we did need someone who was very knowledgeable about our needs. With Focus on-site once a week, we have a much more strategic understanding of how all the pieces fit together and we can plan for the future.”
In addition to managing a complex system, the Focus CFO also proved invaluable when the company recently became part of a $22.5 million project. “It was a significant ramp-up of our systems to accommodate this project, and Focus was instrumental in working through that with us,” recalls the CEO.
Having a Focus CFO has helped the company go from operating on a month to month cash basis to a much more sophisticated model that looks at the complete big picture. The CFO helped define how to manage the cash flow, and now with more complete reporting and better tracking, the company and CEO can focus on more tactical business issues. “I don’t have to worry about the validity of the numbers,” says the CEO. “Our Focus CFO is deliberate, professional, frank, and trustworthy. Our board is very confident, and we have a much better strategic sense.”