Frequently Asked Questions
Q. What is a Finance and Admin Ecosystem (FA Ecosystem)?
A. The FA Ecosystem is the full set of technology, processes, and procedures to provide management all of the numbers it needs to run the business along with all the agreements and records to protect the business and its assets.
Q. What are the major parts of an FA Ecosystem?
A. The heart of the system is the Accounting, Budgeting, and Saas Metrics triad.
The next layer out is made up of the Human Resources Information System (HRIS)/Payroll duad, Customer Relationship Management (CRM)/Configure Price Quote (CPQ)/Sales Tax triad, Equity management system, and the Expense Management/Bill Pay duad.
The final layer is composed of the Document Control/Virtual Data Room (VDR) duad and Password Management Systems.
Q. Why do I need an FA Ecosystem?
A. The heart of the system provides you with clear and easy-to-produce SaaS metrics, real cost and margin information, and accurate cash forecasts which are needed for proper management of the company and presentation to investors and boards. The other layers provide the needed infrastructure to not only protect the company but also allow it to scale quickly and efficiently without having to replace or reconfigure the administrative functions.
Q. What sets you apart from a fractional CFO?
A. We are focused on providing fully integrated turnkey systems with complete knowledge transfer so that anyone with a manager-level set of accounting and finance skills can operate it, delaying the need to engage with a CFO thus saving capital for sales growth and product development.
Q. How much does it cost to put an FA Ecosystem in place?
A. That will depend mostly on what is in place already and the quality of the underlying data. Our free Gap Analysis will allow us to more precisely estimate what investment is needed to bring up a fully functional system.
Q. How long does it take to put an FA Ecosystem into place?
A. Weeks to a few months depending on what is in place already, the quality of underlying data, and the response times on your part to requests.
Q. Who runs the FA Ecosystem once it is up and running?
A. Our model works best when there is a designated person in your organization who owns the ecosystem and works alongside us as we build it and train them on the various aspects. Someone with staff-level accounting and reasonable analytic skills will be able to operate the system.
Q. Is it a lot of work to run an FA Ecosystem?
A. No, a properly established system relies on integration and automation, standardized processes, and efficient exception handling reducing the need for human resources to operate it.