No company is ever too small to have a CFO.
Canova Bancorp Inc. understands this implicitly and has been working in this capacity with companies for the past 20 years.
Regardless of your size, your industry, your history in business or your short- and long-term goals, an experienced CFO can help you make decisions and oversee your operations to help your company prosper and move to the next level.
Advisory Services
Canova Bancorp provides advisory services to a wide variety of businesses, acting as a sounding board for company owners and executives, providing financial analysis and strategic planning, and assisting with the development of corporate metrics that match strategic initiatives with personal goals.
At Canova our basic philosophy if that the bookkeeper deals with things that happened yesterday, the controller deals with things happening today, and the CFO deals with things that will happen tomorrow.
We can help you see your tomorrow and be ready for it.
Financial Analysis
Most companies have the ability to generate lots of raw data about their business…but don’t have the knowledge, skills, or human capital to turn that raw data into anything meaningful that will help improve its business.
Canova Bancorp can be that human capital.
We have 20 years’ corporate financial analysis experience and can take multiple sets of data and create easily understandable analytics that can make running your business easier and more profitable.
Strategic Planning
A good strategic planning process reviews a company’s strengths and weaknesses, compares them with the market opportunities and threats, works with management to gain an understanding of each of these four elements (Strengths, Weaknesses, Opportunities, Threats), and then develops a plan to balance each of the elements.
By identifying any gaps between today and the future, Canova Bancorp sees the bridges that are essential for the company to work through the required process to close the gap, and then works with management to build the necessary bridges.
Corporate Metrics
The key to success for any business is the development of internal corporate metrics, sometimes called Key Performance Indicators (KPIs) that identify the essential elements in any business and highlight how successful the company is in managing them.
There are basic concepts that are universally known…such as the 80/20 rule, however there are many more that are not known, much less properly understood.
Such items as customer acquisition/retention, market/advertising budget elements, pricing levels, growth targets, as well as many more are the focus of a CFO. All will have an impact on company performance, profitability and growth…not to mention the Return on Investment that the company achieves.
Close attention to corporate metrics, with appropriate resolution of difficult situations and proper focus on things the company does well will ultimately help any company achieve what it really wants, will benefit all shareholders, and cement relationships with all stakeholders.
Close attention to corporate metrics will help take pressure off primary shareholders and will allow them to get back to doing what they really want to be doing in their company.
Summary
No company is ever too small to have a CFO.
That does not mean that the CFO has to be a full-time employee commanding a salary, benefits and probably a performance bonus of some type…meaning an annual cost that can easily exceed $200,000.
Canova Bancorp offers its “consulting CFO” service that will see it working for your company on an “as needed” basis…maybe 8 hours a week, maybe 12 hours a week, maybe only 4 hours a week, or alternately as many hours as you need…with a simple contract cost that fits your budget and none of the frills or extra work required to maintain a salaried employee.
We look forward to discussing your needs with you, and to meeting those needs in an up-front professional manner