Unlock Your Club or Pub's Full Potential: Overcoming Pain Points with Get a CFO
Running a successful Club or Pub comes with its unique challenges, from managing finances and operations to navigating compliance and driving growth.
At Get a CFO, we understand the pain points faced by Club and Pub General Managers, and we are here to provide comprehensive solutions tailored to address these challenges head-on. With our expertise in the hospitality industry and a deep understanding of your specific needs, we can help you overcome the following pain points:
Labour and Cost of Sales Improvements:
– Challenges with labor-related issues, such as inefficient scheduling, inadequate training, and high turnover rates.
– Increased labor costs and compromised service quality impacting profitability.
Skilled Finance Staff:
– Difficulty in finding and retaining skilled finance staff with expertise in hospitality finance.
– Limited resources for recruiting finance professionals with specific industry knowledge.
Inconsistent Management Reports:
– Fragmented and inconsistent reporting systems leading to confusion and a lack of clarity.
– Challenges in obtaining standardized and reliable management reports.
Cash Flow Management:
– Fluctuations in revenue, high operating costs, and seasonal demand affecting cash flow.
– Need for effective cash flow management strategies to ensure financial stability.
Inventory and Supplier Pricing:
– Difficulty in managing inventory effectively while maintaining competitive pricing from suppliers.
– Inefficient stock management, wastage, and lack of standardized procurement processes.
Professional and Timely Management Reporting with One-Day Month-End Close:
– Delayed reporting and lack of standardized processes affecting timely
and accurate management reports.
– Manual month-end closing procedures hindering financial insights and
decision-making.
Slow Month-End Reporting:
– Delays in receiving accurate financial reports, hindering timely decision-making.
– Lack of streamlined processes for month-end reporting, impacting operational efficiency.
Industry Compliance and Regulations:
– Navigating complex reporting standards, reporting standards, and compliance obligations.
– Staying up-to-date with industry regulations and changing legislative requirements.
Software Automation
– Reliance on manual processes leading to human errors, duplication of effort, and time-consuming tasks.
– Lack of automation impacting operational efficiency, accuracy, and consistency.
- Accounts payable automation to streamline payment processes and reduce manual errors.
- Month-end reporting automation for faster and more accurate financial reporting.
- Month-end processing automation to expedite the closing process and improve efficiency.
- Daily revenue reporting for real-time visibility into financial performance.
- Payroll processing improvements to enhance accuracy and efficiency in payroll management.
- Payroll costings and daily/weekly reporting to gain insights into labor costs and optimize workforce planning.
- Inventory management and control to optimize stock levels and reduce wastage.
- Purchase order management to streamline procurement processes and improve efficiency.
- Balance sheet process improvement for accurate and timely balance sheet reporting.
- Streamlining cash flow reporting for better cash flow management and decision-making.
- Streamlining fixed asset management to improve asset tracking and management.
- Finance structure and accountabilities to establish clear roles and responsibilities within the finance department.
- Payroll department improvements to enhance payroll processing and ensure compliance.
- Purchasing process enhancements to optimize procurement and control costs.
- Inventory management improvements to streamline stock control and minimize inventory issues.
- General ledger management and management reporting improvements for accurate and insightful financial reporting.
- Cashiering and banking process optimization to ensure efficient cash handling and banking procedures.
- Accounts payable enhancements to streamline payment processes and vendor management.
- Accounts receivable improvements for timely and effective management of receivables.
- Asset management enhancements to optimize asset tracking and maintenance.
- Daily reporting improvements for better operational visibility and monitoring.
- Monthly reporting enhancements for comprehensive financial insights and analysis.
- Balance sheet reconciliation improvements for accurate and reliable balance sheet reporting.
- Auditor liaison to facilitate smooth communication and cooperation during audits.
- Financier and bank relationship management to foster positive relationships and optimize financial arrangements.
- Contract review process improvements to ensure compliance and mitigate risks.