After facing challenges with MYOB Exo for over three years, CFO Dynamics was exactly what we were looking for. In just a few months, Brendan and his team had addressed 90% of the challenges we were facing with stock issues and accountability of stock numbers, and implemented more efficient processes that drastically improved morale.”
We work with some of the most
successful small-medium business
owners in Australia.
As a young management team who took over the family business, CFO Dynamics helped us understand our business and its financials, know which markets and products to focus on, and how to make better decisions. Now we know exactly what to focus on to improve our profitability and move the business forward every day.”
CFO Dynamics helped us get exact financials every month, which set us on a journey to understand how to make intelligent and informed decisions.
This accelerated our growth and has helped us increase our profit and reach our business goals every year.”
We really do appreciate the way that CFO Dynamics works in our business as if it’s their own. There’s no feeling of being an external contractor. It’s a team effort, and there's no way that I would consider going back to doing the financials the way we were doing them.
Now, we’ve got absolutely clarity on our numbers, we know what the facts are, we can trust our reports, and we can make decisions confidently without having to second-guess ourselves.”
General Manager, EasyQuip
Crucially, I appreciated CFO Dynamics’ understanding and focus on family businesses – how we have different priorities and growth patterns to a corporate business, but it's still about generating wealth and return on investment.
They showed us we can run a family business on corporate principles without taking away from the true goal of what a small and medium enterprise is.”
Previously we weren’t getting accurate or timely information we needed from our in-house bookkeeper. The biggest was I couldn’t trust the numbers.
After working with CFO Dynamics, I now have 100% trust in the financial information I receive. This means we can make informed, correct decisions basically immediately, like the confidence to take on two more buildings equal to our original-sized one. If we hadn’t acted that way, we wouldn’t be getting the revenue we are now.”
CFO Dynamics really guided us where we were going wrong with MYOB Exo, which we had huge discrepancies with for years. This meant we could finally pull correct reports from the system, which gave us direction and confidence.
We’ve recently increased our scope of working with them not just because of their professionalism and attention to detail, but especially because of Brendan's knowledge of manufacturing businesses. That really impressed us.”
I was always too busy to spend time knuckling down and getting the relevant financial information the company and other directors needed.
With the help of CFO Dynamics we drilled down into our products and looked at their revenue and profit versus the labour cost, which helped us pick out the products which were the golden eggs and encourage our sales team to concentrate on those. This had immediate results on our revenue and gross profit the very next quarter.”
Managing Director, Commander Ag-Quip
Prior to engaging Brendan and CFO Dynamics, we were having issues with stock, coding and general problems using MYOB Exo.
Brendan came in and assisted us in improving a number of our processes, and helped us gain a better understanding of MYOB and its capabilities. We can now trust our reporting and business has improved overall.”
Before working with CFO Dynamics we weren't using our ERP system to its full potential. Brendan and his team were able to come in and train our staff to use MYOB Exo properly, so now we get accurate management and financial reporting every month.
Now, what we're doing and the information we have in front of us means we know exactly what to focus on to improve our profitability, and how to make decisions that positively impact the business every day.”
Previously we were using MYOB Exo databases for purchasing and stock controlling, and one of the problems I had was related to consolidating shipments. Brendan at CFO Dynamics showed me how to do this and truly saved me a lot of time.
Brendan also helped me understand how on-costs affects our business and how it should be balanced in the system, which has been really helpful for our business.”
At first you might balk at the cost of an outsourced CFO, because the right advisor is not cheap. But you learn that the savings quickly pay for themselves. For instance, we were considering a second $1,000 machine in our second building. It sounds like a big load of money – how could we justify that?
But now I know our whole team, on average, is worth $17 a minute. So if one guy has to walk across to the other building a few times a day, it’s costing the company about $50 a week. Straight away, why wouldn't you buy the new machine? It pays for itself in a few months. Even if you’re not an accountant, understanding the numbers helps to justify a business decision very quickly.”
Managing Director, Unicorn Transport