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With Fractional CFO Services

Daaxit Blog

Aaron Mills Podcast Interview with Spot Migration

Aaron Mills Podcast Interview with Spot Migration

Hosts: Have you ever wondered how successful architecture, engineering, and construction companies scale their businesses? And have you ever wanted guidance on how to get more growth, wealth, and freedom from your agency? Well, then you’re in luck. I'm Justin Nagel, your podcast host. We interview...

Trends Your CFO Says to Watch in 2022

Trends Your CFO Says to Watch in 2022

2020 and 2021 radically changed the landscape for CFOs, and things don't show any sign of slowing down. Post-pandemic, we feel the rebound impacts, and those impacts are considerable and lasting. CFOs will be managing the dynamics of inflation, labor rates, cash flow, and automation through 2022...

Why Credit Risk Management Is Important to Contractor Businesses

Why Credit Risk Management Is Important to Contractor Businesses

Every business is an exercise in managing risk. We all know that risk equals reward, but the goal is to shift that equation as much as possible. Risk mitigation has tremendous value, and when coupled with increased profitability, the risk/reward equation moves in your favor. Contractors face more...

Contract Risk Management for Small Contracting Businesses

Contract Risk Management for Small Contracting Businesses

Every business is exposed to a risk of customer payment default if they extend payment terms. The most significant difference between a contractor and many other businesses is that the risk exposure can be far more significant for an individual customer based on the size of the job and the extent...

Why Construction Firms Fail and How to Prevent It

Why Construction Firms Fail and How to Prevent It

It’s a difficult topic to address, but firms often fail. At one moment, a company can be exhibiting tremendous success, and the next, it is closing its doors. There are many reasons why companies fail, but they almost always end with the ultimate reason for failure to meet obligations due to a...

Why a Bookkeeping Service For Construction Companies Is Essential

Why a Bookkeeping Service For Construction Companies Is Essential

Your contracting company is excellent at what you do. Customers send referrals, your rates keep going up, and people come to you knowing they'll get fantastic quality and service. Contractors are great at what they do, but bookkeeping isn't a part of that mix. Having an excellent bookkeeping...

How to Perform a Target Market Analysis for Your Contracting Business

How to Perform a Target Market Analysis for Your Contracting Business

You have a fantastic idea for a new product or service that is unlike anything currently available on the market today. Unfortunately, if you have not taken the time to perform a market analysis, then it is all for naught. It does not matter how good your idea is or how well-made your product is;...

Project Budgeting for Construction Firms

Project Budgeting for Construction Firms

As a business owner, you probably understand the importance of budgeting, particularly for the construction industry. A budget helps construction companies forecast their expenses and cash flow. With this information, you can ensure your finances adequately meet your short-term goals, and you can...

How a Fractional CFO Can Transform a Growing Construction Business

How a Fractional CFO Can Transform a Growing Construction Business

Construction can be a great business. The market has been non-stop even through two years of a pandemic and only shows continued growth ahead. Few things can be better than delighted customers and steady growth, and your business can continue to do both with excellent financial management. While...

What Does an Outsourced Controller Do?

What Does an Outsourced Controller Do?

As a forward-facing construction company, you may be thinking about preparing for business growth. However, you may also be looking to resolve current financial disorganization or other issues within your company before moving forward. To accomplish this, consider hiring an expert to organize...

How Does a CFO Add Value?

How Does a CFO Add Value?

If you own a traditional construction company, you may wonder whether an outsourced CFO can add value to your business. After all, you may have analysts on staff who calculate costs and estimate profitability and project managers who direct, plan, and evaluate many aspects of operations. Despite...

The Difference Between a Fractional CFO and an In-House Part-time CFO

The Difference Between a Fractional CFO and an In-House Part-time CFO

Many construction company leaders, real estate managers and general contractors struggle with accounting functions. They are good at what they do - build, repair, maintain things - but dealing with the numbers is challenging. The truth is all construction industry companies need someone dedicated...

Five Ways a Fractional CFO can Increase Cash Flow

Five Ways a Fractional CFO can Increase Cash Flow

Need help organizing the accounting data and reporting processes used in your construction business? You are not alone. Many managers and general contractors struggle with building a workable chart of accounts. Yet, the chart of accounts is a foundational tool from which all your financial...

Five Reasons to Hire a Fractional CFO

Five Reasons to Hire a Fractional CFO

No matter in what industry you operate, one of your organization's goals is to thrive and increase revenue. A chief financial officer (CFO) is the person making the financial operational decisions for your organization. This person handles accounting, budget, financing, and relationships with...

Do I Need a Fractional CFO?

Do I Need a Fractional CFO?

It's challenging enough to win bids and keep projects on-track and on-budget without spending extra time tracking costs and analyzing labor and overhead percentages. Add in a different supply chain challenge nearly every day and you may feel like you're just working to stay in business. It's...