CFO Network Delivers Small Businesses Big-Company Financial Management (Advertisement)

by Arkansas Business Staff  on Monday, May. 10, 2010 12:00 am  

"We learn our clients? businesses and help them identify and focus on the key factors that make a real difference in their financial performance." ? Allen Engstrom, Managing Partner

CFO Network
321 Maple St.
North Little Rock, Ark.  72114
(501) 374-8123
(501) 374-2820 (fax)

Number of Employees: 15
Top Executive: Allen Engstrom, Managing Partner
Product or Service: Providing outsourced teams of finance and accounting professionals.
Year Founded: 2004

One thing Allen Engstrom learned while working for global, multi-billion dollar companies was that his passion is working with small businesses. Today clients of CFO Network, which Engstrom joined in 2004, benefit from the full suite of financial and management services that Engstrom used to deliver internally as a financial analyst at major corporations.

“We build teams of specialists who provide services normally associated with a fully staffed accounting and finance department, and we ‘timeshare’ those teams out to small businesses proportional to their needs at a price they can afford,” Engstrom said. “It’s like having virtual employees, except our clients get so much more.”

World-Class Business Support

CFO Network doesn’t merely supply necessary financial-related services from afar. Its teams get in the trenches with their clients to deliver world-class business support services – coaching, consulting, accounting and reporting, Engstrom said. “And we deliver those to small businesses who are starved for those sorts of things.”

CFO’s financial professionals provide turnkey solutions delivered with one goal in mind: the client’s financial success.

“We are laser-focused,” Engstrom said. “We don’t do audits, we don’t do taxes. We don’t do things CPA firms do. We work with them; we don’t compete against them. We don’t do payroll; we work with payroll companies. What we do best is becoming experts at each of our client’s businesses. We coach our business owners and help them focus on the right things the right way at the right time.

“This is the essence of what we do – first we help our business owners understand what their goals are. What is the potential of this business in five years? To double revenue? Then we quantify what that looks like. Here’s what you told us. Here’s what your business looks like. Then we solve for what you have to do to get there in terms of people, investments, cash flow, financing. What are all the requirements of what you have to do to get where you want to go? Then going forward we work with them in the business to help them stay on track with the plan. It sounds simple, but it’s really a tough job. However, we have found our processes to be remarkably effective for our clients.”

Big-Business Experience, Small-Business Passion

This results-focused method of analysis, planning and execution is what North Little Rock native Engstrom focused on as a member of the financial teams at Motorola and Intel, two global juggernauts he worked for after getting his master’s degree in business administration at the University of Texas.

At Intel, the world’s largest manufacturer of the chips that power personal computers, Engstrom was on a team that developed partnerships with small businesses that were important to Intel’s strategic growth.



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