Strategic guidance + systems to manage daily details
MyCFO: Mid-Year Review services
Whether your year is going great, poorly or somewhere in-between, taking the time to perform a mid-year review can significantly improve your chances of achieving success.
How we can help you:
While every company is different, there are 8 steps that MyCFO typically implements with clients as part of the mid-year review:
- Evaluate YTD performance
- Identify impediments to success
- Consider new opportunities
- Reset metrics
- Reallocate resources to achieve goals
- Identify measures to improve profitability
- Manage cash flow more effectively
- Provide leadership direction for personnel
Due to our decades of experience working with hundreds of clients, MyCFO is able to add considerable value in each of these steps. After implementing our recommendations, our clients typically find that they become more effective across the board in each department.
We put systems in place to keep your business on track!
Once the review is completed, it is crucial to have systems in place to make certain your business stays on the adjusted path. MyCFO typically provides sophisticated assistance and systems to generate key financial and other data for management to regularly monitor. A key tool that we implement is a balanced scorecard (“BSC”), which is a strategic management performance tool that measures past performance data and provides organizations with feedback on how to make better decisions in the future. A balanced scorecard typically measures four key areas: financial, customers, internal processes, and organizational/human capital. These BSC metrics are used to develop actionable strategies, aimed at improvements in key performance areas.
The professionals at MyCFO are experts in helping our clients to translate strategic goals into actual performance improvements. We set up systems to monitor results during the year, and consult with the client in making adjustments along the way.
The time and money invested in a mid-year review can be minor in relation to the potential outcome. The professionals at MyCFO can offer invaluable expertise in this process. Contact us today for a free initial consultation! Download our one-sheet brochure here.