Explore the Client Journey Itinerary
At Norman Professional Services, we understand that getting comfort over your financials is a must-have to business owners. This means you need financial information that is accurate, reliable, and timely – or what we like to call it, ART!
There’s a saying in accounting that’s a play on handling inventory costing. Instead of First In, First Out or it’s Garbage In, Garbage Out! That means if your financial information isn’t being put in following best practices (meaning, Garbage In), then the reports you get might not be telling you the right story (meaning, Garbage Out)!
Because of this, our clients go through an intentional process that sets up the foundation for success, provides a path to correct older configuration issues and problematic behaviors, maintains and enhances a sound accounting system, and positions the business owner to more easily make the business decisions that align with their vision for the growth and maturity of their company!
For some clients, that means visiting us for just a brief time to get pointed in the right direction, and they do it on their own or with other specialists – and that’s okay! For others, it means moving into a longer term relationship where we can be their financial stewards, handling as much or as little of the day to day financial work as they wish to delegate. And for others, it means taking over the top-to-bottom financial arm of the organization and taking a role in the leadership conversations as the financial seat. We’re happy to serve clients in any of these capacities with an objective of priming them to achieve long term financial goals for their businesses.
The Norman Professional Services Four-Step Client Journey
Step 1: Diagnostic
Diagnostic: We’ll look at how money flows in and out of your business, and the systems, software, process, and people that are involved in tracking it. After that, we’ll let you know our recommendations on how to improve your accounting system.
Our Financial Fitness Health Check is a 1-week program where we take a peek under the hood of your business. The goal is to provide you valuable insights on where your accounting system is today and recommendations on how to get it to where you want it to be as well as recordkeeping best practices if we’re seeing opportunities for improvement.
At the end of our 1-week Financial Fitness program, clients receive:
- A report of recommendations to align with your future wants and best practices.
- A 6-month trending dashboard of financial key performance indicators (KPIs)
- Where relevant, a list of questions for your tax CPA to help you further understand your books.
From the diagnostic, there may be a variety of recommendations to align your accounting system with best practices. NPS can be of service to accelerate your ability to get to a state of using a well-run financial engine!
Recommendations for clients can include:
- Organizing your chart of accounts
- Catching up on record entry and reconciliation
- Automating feeds of data from banks, point of sale, and more
- Designing a customer collections process
- Designing a 1099 payment tracking process
- Coordinating payroll journal entries with benefits
- Expense-focused breakeven analysis
Step 2: Tune Up
Tune-Up: We’ll design and implement best practices on how to manage and report on your financials in QuickBooks. These processes are tailored to your company, complete with documentation unique to you. Don’t have QuickBooks? We can get it set up for you!
Step 2: Tune Up
Tune-Up: We’ll design and implement best practices on how to manage and report on your financials in QuickBooks. These processes are tailored to your company, complete with documentation unique to you. Don’t have QuickBooks? We can get it set up for you!
From the diagnostic, there may be a variety of recommendations to align your accounting system with best practices. NPS can be of service to accelerate your ability to get to a state of using a well-run financial engine!
Recommendations for clients can include:
- Organizing your chart of accounts
- Catching up on record entry and reconciliation
- Automating feeds of data from banks, point of sale, and more
- Designing a customer collections process
- Designing a 1099 payment tracking process
- Coordinating payroll journal entries with benefits
- Expense-focused breakeven analysis
Step 3: Dashboard
Dashboard: Each month, we’ll close your books and give you financials that you can use to manage your business. And we’ll meet to talk about your financials’ Key Performance Indicators that matter to you, sharing trends that we see in how your company is doing.
Once the business has a reliable system to accurately track money in, money out, and money management, together we monitor and present what we see in the financials and can share discussions with your business leadership
Clients who sign up for long-term, recurring work can receive:
- Day-to-day outsourced accounting and bookkeeping services
- Quality-reviewed, accrual- and cash-basis financial statements monthly
- Periodic Financial Review Meetings
- Cash flow forecasting
- Ongoing dashboard of financial KPIs
- Annual budget
- …and more!
When you get the financial data you need as a business owner, you become well-positioned to make important business decisions around your operations, pricing, marketing, labor, and other dynamic pillars of small business to help it reach its next phases of maturity. Looking to sell your business? We can help with that too!
Clients positioned for growth can look to NPS to assist with:
- What-if analyses on pricing strategy
- Evaluate return on investment on marketing initiatives
- Anticipate additional labor needs based on business growth
- Plan for owner compensation increases
- Preparation of EBITDA for mergers and acquisitions
Step 4: Growth
Growth: Our expertise as fractional CFOs help organizations build budgets and forecasts that embrace growth. Looking to sell your business? We help with the planning and reporting you need to make it happen!
Step 4: Growth
Growth: Our expertise as fractional CFOs help organizations build budgets and forecasts that embrace growth. Looking to sell your business? We help with the planning and reporting you need to make it happen!
When you get the financial data you need as a business owner, you become well-positioned to make important business decisions around your operations, pricing, marketing, labor, and other dynamic pillars of small business to help it reach its next phases of maturity. Looking to sell your business? We can help with that too!
Clients positioned for growth can look to NPS to assist with:
- What-if analyses on pricing strategy
- Evaluate return on investment on marketing initiatives
- Anticipate additional labor needs based on business growth
- Plan for owner compensation increases
- Preparation of EBITDA for mergers and acquisitions
Our team at Norman Professional Services is proud to share their financial expertise to help small businesses get set up for success. If we can be of service to you, please get in touch!
Norman Professional Services
NPS is proud to remotely serve small businesses across the United States with outsourced CFO, financial analysis and tracking, and outsourced accounting services. If you think we may be a good fit to help your organizations's goals or if you'd like to learn more, please fill out our contact form or contact us via any of our communication channels below.
