Welcome to GETACFO Your Trusted Hospitality Accounting & Back office Experts
Enhance Your Hospitality Business with Expert Financial Management and Strategic Guidance
At GETACFO, we understand the unique challenges and intricacies of the hospitality industry. Whether you run a hotel, pub, or club, we are here to provide comprehensive accounting/back office services tailored to meet your specific needs. With 30 years of experience and a proven track record, we are your trusted partner in maximizing financial performance, streamlining operations, and achieving sustainable growth.
What we do
How do we help!
Hospitality Expertise:
Get a CFO specialises in providing financial control services to the club and pub sectors, with a deep understanding of the unique challenges and requirements of the hospitality industry. By engaging Get a CFO, the client can benefit from our specialised knowledge and experience, ensuring that the financial management of the clubs is aligned with the specific needs of the hospitality sector.
Comprehensive Review and Improvement:
Get a CFO goes beyond traditional accounting services. We actively review existing policies and procedures to identify opportunities for improvement in accuracy, timeliness, and consistency of back-office operations. By engaging Get a CFO, the client can expect a comprehensive assessment of the current processes and the implementation of strategies to enhance operational efficiency.
Proactive Approach:
Get a CFO takes a proactive approach to financial management. We actively seek opportunities to streamline processes, reduce costs, and improve decision-making. By engaging Get a CFO, the client can benefit from our forward-thinking mindset, ensuring that the financial function of the clubs is optimised for success.
Effective Communication and Engagement:
Get a CFO understands the importance of effective communication and engagement with the club management. We prioritise establishing strong lines of communication, ensuring that we understand the unique needs and goals of the clubs. By engaging Get a CFO, the client can expect a collaborative partnership, where our financial needs are understood and supported.
Tailored Solutions:
Get a CFO recognises that each has its own specific requirements. We offer customised solutions that are tailored to the individual needs of each venue. By engaging Get a CFO, the client can ensure that the financial management services provided are specifically designed to meet their unique demands, leading to more efficient operations and improved financial performance.
Take the first step towards elevating your venue today. Fill out the form below or give us a call to schedule your personalised consultation. Let us help you create an environment that fosters teamwork, boosts productivity, and provides performance reports on a consistent, timely and accurate basis.
How it works?
Phase one –Deep Dive (2 to 3 Month program)
Areas we typically streamline include, but not limited to:
➥ Month-end reporting automation
➥ Month-end processing automation
➥ Daily revenue reporting
➥ Payroll processing improvements
➥ Payroll costings and daily/weekly reporting
➥ Inventory management and control
➥ Purchase order management
➥ Balance sheet process improvement
➥ Daily revenue reporting
➥ Streamlining cash flow reporting
➥ Streamlining fixed asset management.
Phase two – Ongoing Financial Control
We will assess the finance operation, focusing on internal control procedures such as separation of duties, access controls, physical audits, standardised documentation, trial balances, periodic reconciliations, and approval authority.
Working with the existing team we will oversee each finance function, including but not limited to:
➥ Payroll department
➥ Purchasing
➥ Inventory
➥ General ledger management & management reporting
➥ Cashiering and banking
➥ Accounts payable
➥ Accounts receivable
➥ ATO and OSR compliance lodgements
➥ Daily reporting
➥ Monthly reporting
➥ Balance sheet reconciliation
➥ Auditor liaison
➥ Financier and bank relationships
➥ Contract review
We will continuously review internal policies and procedures for the finance function, identifying any internal risks that may arise. We will implement revised or new policies aimed at reducing internal risks. This will be achieved through transparent reporting, active prevention by monitoring operational processes, and guiding individuals’ behaviours and decisions toward desired norms.
We will review month-end processes with the finance team and recommend and implement any opportunities for best practices. If you require additional resources to manage specific finance roles we can assist, providing cost effective resourcing solutions
Why Choose Us?
When you choose us as your Financial Controller, you gain a trusted advisor who understands the hospitality industry, works collaboratively with your team, delivers customised solutions, drives tangible results, embraces continuous learning, and upholds the highest ethical standards. We are committed to helping you achieve success in the dynamic and competitive landscape of the hospitality industry.
Take The First Step
Industry-Specific Expertise
Our extensive finance experience and specialised focus in the Hotel, Pub, and Club sectors set us apart from your run of the mill accountants. We understand the unique dynamics and challenges of your industry, allowing us to provide tailored solutions and insights that directly address your specific needs.
Collaborative Partnership
We believe in building strong and collaborative relationships with our clients. We work alongside your team, actively involving key stakeholders in the decision-making process. Our collaborative approach fosters a sense of ownership and accountability, ensuring that our recommendations are embraced and effectively implemented throughout your organization.
Results-Driven Focus
Our goal is to deliver measurable results and drive sustainable growth for your business. We focus on tangible outcomes, such as timely, accurate and consistent monthend reporting, improving financial performance, optimising operational efficiency, and enhancing customer satisfaction. Through data-driven insights and continuous monitoring, we ensure that our efforts translate into real, positive impacts on your bottom line.
Ethical and Transparent Approach
We uphold the highest standards of integrity, ethics, and transparency in all our interactions. We maintain strict confidentiality and handle sensitive information with the utmost care. Our transparent approach ensures that you have a clear understanding of the processes, methodologies, and costs associated with our consulting services.
Towards Success
Holistic Approach
We take a comprehensive approach to consulting, recognising that financial management is just one piece of the puzzle. We go beyond numbers to consider the broader operational and strategic aspects of your business. By understanding the interconnectedness of different functions, we develop holistic solutions that drive overall performance and growth.
Customised Solutions
We understand that every venue is unique, with its own goals, challenges, and culture. We don't offer one-size-fits-all solutions. Instead, we take the time to thoroughly assess your business and develop customised strategies and action plans that align with your specific needs and objectives. Our solutions are designed to be practical, achievable, and tailored to your organisation's capabilities.
Continuous Learning & Adaptation
The hospitality industry is constantly evolving, and we understand the importance of staying ahead of the curve. Our team is committed to ongoing professional development, keeping up with the latest trends, emerging technologies, and best practices in the industry. We adapt our strategies and approaches to meet the changing needs of your business, ensuring that you always receive the most relevant and up-to-date guidance.
Why Choose Us?
Take The First Step
Towards Success
- Industry-Specific Expertise
- Holistic Approach
- Collaborative Partnership
- Customized Solutions
- Results-Driven Focus
- Continuous Learning & Adaptation
- Ethical and Transparent Approach
A Transformative Financial Journey How Get a CFO Rescued Our Club
A Transformative Financial Journey How Get a CFO Rescued Our Club
Introduction : XYZ Club is a prominent establishment in the hospitality industry, renowned for its excellent service, vibrant atmosphere, and top-notch facilities. However, the club was facing challenges in managing its back-office processes efficiently, resulting in inefficiencies, delayed reports, and increased costs. As a hospitality consulting firm specialising in streamlining operations, we were engaged to address these concerns and improve the overall functioning of the club. This case study highlights the five key pillars where assistance was required and describes how I successfully transformed the operation.
1 . IT and Broadband Connectivity: Prior to my involvement, XYZ Club faced persistent issues with IT infrastructure and inconsistent broadband connectivity. These limitations hindered smooth operations, hindered data exchange, and delayed critical communications. To address these challenges, we conducted a thorough IT audit, identified areas of improvement, and collaborated with reputable technology providers to upgrade the club’s network infrastructure and ensure reliable broadband connectivity. The implementation of robust IT systems and reliable connectivity significantly enhanced operational efficiency and facilitated seamless communication across various departments.
2 . Software Automation: XYZ Club heavily relied on manual processes, leading to human errors, duplication of effort, and time-consuming tasks. Recognizing the need for automation, we conducted an in-depth analysis of the club’s existing processes and identified opportunities for software integration. By implementing customized software solutions, we streamlined various administrative tasks, such as membership management, event planning, and financial transactions. This automation not only minimized errors and saved time but also improved the overall accuracy and consistency of the club’s operations.
3 . Inventory and Supplier Pricing: One of the significant challenges faced by XYZ Club was managing its inventory effectively while maintaining competitive pricing from suppliers. To tackle this issue, we conducted a comprehensive review of the club’s inventory management practices and supplier relationships. By implementing an inventory management system, I optimized stock levels, reduced wastage, and implemented standardized procurement processes. Furthermore, we negotiated favourable pricing agreements with suppliers, ensuring cost savings and consistent quality for the club.
4 . Labour and Cost of Sales Improvements: XYZ Club was grappling with labour-related issues, such as inefficient scheduling, inadequate training, and high turnover rates. These challenges resulted in increased costs and compromised service quality. To address this, we analysed the club’s staffing requirements, implemented an advanced scheduling system, and provided training programs to enhance employee skills. These initiatives optimized labour utilization, improved employee satisfaction, and reduced costs, resulting in a more efficient workforce and enhanced service quality.
5 . Professional and Timely Management Reporting with One-Day Month-End Close: To enable effective decision-making, XYZ Club needed timely, accurate, and comprehensive management reports. However, the club struggled with delayed reporting and a lack of standardised processes. To address this, we redesigned the reporting framework, implemented a cloud-based accounting system, and established streamlined processes for data collection and analysis. These improvements enabled the club to achieve a one-day month-end close, providing management with up-to-date financial insights and KPIs. Additionally, we conducted training sessions for the finance staff to enhance their skills in generating insightful reports, ensuring sustainable results.
Case Study
A Transformative Financial Journey:
How Get a CFO Rescued Our Club
When our club found itself in the midst of a financial crisis, we were fortunate to discover the expertise and unwavering support of Paul Stephenson and Get a CFO. Our guidance not only saved us from uncertain waters but propelled us towards a future of financial success.”
Under the previous financial management, our club was blindsided by inaccurate month-end reports, portraying a bleak financial outlook. As the General Manager, I felt overwhelmed and unable to find a reasonable explanation for the sudden downturn. The pressure from the committee and the potential personal liability weighed heavily on us all.
Desperate for a lifeline, we reached out to Paul Stephenson, whose reputation for resolving complex financial challenges preceded them. From the very first interaction, our dedication and commitment to our club’s success were apparent. Paul Stephenson dove headfirst into our financial records, conducting a comprehensive review with meticulous attention to detail.
Our expertise quickly uncovered the root causes of our financial woes. Misallocated expenses, assets recorded inaccurately, and subpar accounting practices were identified as the primary culprits. Armed with this knowledge, Paul Stephenson initiated a collaborative journey, working alongside our Financial Controller (FC) to rectify the errors and establish sound financial practices. The transformation was astounding. Paul Stephenson’s guidance and strategic plan allowed us to realign assets, correct expenses, and implement strong internal controls. Our deep understanding of the club and hospitality industry was evident in every decision made, ensuring our financial management aligned with best practices.
The impact was profound. Accurate month-end reports showcased our true performance, instilling confidence in our team and alleviating the pressure from the committee. With newfound transparency and clarity, we could make informed decisions and chart a course towards sustainable growth.
The success story of our club’s financial revival, attributed to the unwavering
support and expertise of Paul Stephenson and Get a CFO, has become a cherished testimonial. Our dedication to our
success, our collaborative approach, and our commitment to excellence set them apart from the rest. Today, we
stand as a testament to the power of a trusted financial partner in navigating uncertain waters. If you find your
organization facing financial challenges, we wholeheartedly recommend partnering with Get a CFO. Our expertise,
guidance, and passion for success will transform your journey, just as we did for us. Let Paul Stephenson and the
Get a CFO team be your guiding light towards financial clarity and prosperity.”
Introduction : XYZ Club is a prominent establishment in the hospitality industry, renowned for its excellent service, vibrant atmosphere, and top-notch facilities. However, the club was facing challenges in managing its back office processes efficiently, resulting in inefficiencies, delayed reports, and increased costs. As a hospitality consulting firm specializing in streamlining operations, I was engaged to address these concerns and improve the overall functioning of the club. This case study highlights the five key pillars where assistance was required and describes how I successfully transformed the operation.
2 . Software Automation: XYZ Club heavily relied on manual processes, leading to human errors, duplication of effort, and time-consuming tasks. Recognizing the need for automation, I conducted an in-depth analysis of the club’s existing processes and identified opportunities for software integration. By implementing customized software solutions, I streamlined various administrative tasks, such as membership management, event planning, and financial transactions. This automation not only minimized errors and saved time but also improved the overall accuracy and consistency of the club’s operations.
3 . Inventory and Supplier Pricing: One of the significant challenges faced by XYZ Club was managing its inventory effectively while maintaining competitive pricing from suppliers. To tackle this issue, I conducted a comprehensive review of the club’s inventory management practices and supplier relationships. By implementing an inventory management system, I optimized stock levels, reduced wastage, and implemented standardized procurement processes. Furthermore, I negotiated favorable pricing agreements with suppliers, ensuring cost savings and consistent quality for the club.
4 . Labour and Cost of Sales Improvements: XYZ Club was grappling with labor-related issues, such as inefficient scheduling, inadequate training, and high turnover rates. These challenges resulted in increased costs and compromised service quality. To address this, I analyzed the club’s staffing requirements, implemented an advanced scheduling system, and provided training programs to enhance employee skills. These initiatives optimized labor utilization, improved employee satisfaction, and reduced costs, resulting in a more efficient workforce and enhanced service quality.
5 . Professional and Timely Management Reporting with One-Day Month-End Close: To enable effective decision-making, XYZ Club needed timely, accurate, and comprehensive management reports. However, the club struggled with delayed reporting and a lack of standardized processes. To address this, I redesigned the reporting framework, implemented a cloud-based accounting system, and established streamlined processes for data collection and analysis. These improvements enabled the club to achieve a one-day month-end close, providing management with up-to-date financial insights and KPIs. Additionally, I conducted training sessions for the finance staff to enhance their skills in generating insightful reports, ensuring sustainable results.
Conclusion: Through the implementation of strategic interventions in the aforementioned five key pillars, XYZ Club experienced a remarkable transformation in its back office operations. The improvements in IT and broadband connectivity, software automation, inventory and supplier pricing, labor and cost of sales, and professional management reporting facilitated streamlined processes, reduced costs, improved decision-making, and enhanced overall operational efficiency. The success achieved in this case study serves as a testament to the value of our hospitality consulting services in driving sustainable improvements for clubs and pubs in the industry.
1 . IT and Broadband Connectivity: Prior to GetACFO involvement, Surf Club faced persistent issues with IT infrastructure and inconsistent broadband connectivity. These limitations hindered smooth operations, hindered data exchange, and delayed critical communications. To address these challenges, we conducted a thorough IT audit, identified areas of improvement, and collaborated with reputable technology providers to upgrade the club’s network infrastructure and ensure reliable broadband connectivity. The implementation of robust IT systems and reliable connectivity significantly enhanced operational efficiency and facilitated seamless communication across various departments.
2 . Software Automation: The Surf Club heavily relied on manual processes, leading to human errors, duplication of effort, and time-consuming tasks. Recognising the need for automation, we conducted an in-depth analysis of the club’s existing processes and identified opportunities for software integration. By implementing customised software solutions, we streamlined various administrative tasks, such as membership management, event planning, and financial transactions. This automation not only minimised errors and saved time but also improved the overall accuracy and consistency of the club’s operations.
3 . Inventory and Supplier Pricing: One of the significant challenges faced by The Surf Club was managing its inventory effectively while maintaining competitive pricing from suppliers. To tackle this issue, we conducted a comprehensive review of the club’s inventory management practices and supplier relationships. By implementing an inventory management system, I optimised stock levels, reduced wastage, and implemented standardised procurement processes. Furthermore, we negotiated favourable pricing agreements with suppliers, ensuring cost savings and consistent quality for the club.
4 . Labour and Cost of Sales Improvements: Surf Club was grappling with labour-related issues, such as inefficient scheduling, inadequate training, and high turnover rates. These challenges resulted in increased costs and compromised service quality. To address this, we analysed the club’s staffing requirements, implemented an advanced scheduling system, and provided training programs to enhance employee skills. These initiatives optimised labour utilization, improved employee satisfaction, and reduced costs, resulting in a more efficient workforce and enhanced service quality.
5 . Professional and Timely Management Reporting with One-Day Month-End Close: To enable effective decision-making, The Surf Club needed timely, accurate, and comprehensive management reports. However, the club struggled with delayed reporting and a lack of standardised processes. To address this, we redesigned the reporting framework, implemented a cloud-based accounting system, and established streamlined processes for data collection and analysis. These improvements enabled the club to achieve a one-day month-end close, providing management with up-to-date financial insights and KPIs. Additionally, we conducted training sessions for the finance staff to enhance their skills in generating insightful reports, ensuring sustainable results.
Conclusion: Through the implementation of strategic interventions in the aforementioned five key pillars, The Surf Club experienced a remarkable transformation in its back office operations. The improvements in IT and broadband connectivity, software automation, inventory and supplier pricing, labor and cost of sales, and professional management reporting facilitated streamlined processes, reduced costs, improved decision-making, and enhanced overall operational efficiency. The success achieved in this case study serves as a testament to the value of our hospitality consulting services in driving sustainable improvements for clubs and pubs in the industry.
Introduction : XYZ Club is a prominent establishment in the hospitality industry, renowned for its excellent service, vibrant atmosphere, and top-notch facilities. However, the club was facing challenges in managing its back office processes efficiently, resulting in inefficiencies, delayed reports, and increased costs. As a hospitality consulting firm specializing in streamlining operations, I was engaged to address these concerns and improve the overall functioning of the club. This case study highlights the five key pillars where assistance was required and describes how I successfully transformed the operation.
2 . Software Automation: XYZ Club heavily relied on manual processes, leading to human errors, duplication of effort, and time-consuming tasks. Recognizing the need for automation, I conducted an in-depth analysis of the club’s existing processes and identified opportunities for software integration. By implementing customized software solutions, I streamlined various administrative tasks, such as membership management, event planning, and financial transactions. This automation not only minimized errors and saved time but also improved the overall accuracy and consistency of the club’s operations.
3 . Inventory and Supplier Pricing: One of the significant challenges faced by XYZ Club was managing its inventory effectively while maintaining competitive pricing from suppliers. To tackle this issue, I conducted a comprehensive review of the club’s inventory management practices and supplier relationships. By implementing an inventory management system, I optimized stock levels, reduced wastage, and implemented standardized procurement processes. Furthermore, I negotiated favorable pricing agreements with suppliers, ensuring cost savings and consistent quality for the club.
4 . Labour and Cost of Sales Improvements: XYZ Club was grappling with labor-related issues, such as inefficient scheduling, inadequate training, and high turnover rates. These challenges resulted in increased costs and compromised service quality. To address this, I analyzed the club’s staffing requirements, implemented an advanced scheduling system, and provided training programs to enhance employee skills. These initiatives optimized labor utilization, improved employee satisfaction, and reduced costs, resulting in a more efficient workforce and enhanced service quality.
5 . Professional and Timely Management Reporting with One-Day Month-End Close: To enable effective decision-making, XYZ Club needed timely, accurate, and comprehensive management reports. However, the club struggled with delayed reporting and a lack of standardized processes. To address this, I redesigned the reporting framework, implemented a cloud-based accounting system, and established streamlined processes for data collection and analysis. These improvements enabled the club to achieve a one-day month-end close, providing management with up-to-date financial insights and KPIs. Additionally, I conducted training sessions for the finance staff to enhance their skills in generating insightful reports, ensuring sustainable results.
Conclusion: Through the implementation of strategic interventions in the aforementioned five key pillars, XYZ Club experienced a remarkable transformation in its back office operations. The improvements in IT and broadband connectivity, software automation, inventory and supplier pricing, labor and cost of sales, and professional management reporting facilitated streamlined processes, reduced costs, improved decision-making, and enhanced overall operational efficiency. The success achieved in this case study serves as a testament to the value of our hospitality consulting services in driving sustainable improvements for clubs and pubs in the industry.