There is no doubt that the accounting and finance functions are critical to the health and well being of any organization. Timely, accurate information is essential to manage the business today as well as to plan for the future. A gap in this key management function could potentially undermine the viability of a business, run it afoul of reporting requirements and contribute to a loss of control.
In today’s world of cloud-based accounting and real-time field intelligence, the amount of data available is expansive and the ability to generate, present, and interpret it is highly valued and an expectation of ownership, senior leadership, boards and stakeholders/shareholders.
Osborne can provide a no obligation assessment and advice on how to strengthen the Finance function as well as add capacity on a part-time, contract basis.
Whether your need is at the CFO, Controller or General Accountant level, we can access the resources you require and scale the support to suit your budget.
Critical areas where Osborne can be of benefit:
Develop a relationship with key bank personnel, share information about your business, keep the bank fully updated, and provide credible forecasts taking into account historic debt and cash flow history.
Identify future risk areas across the business, include significant risk areas in the business plan, evaluate alternative scenarios and approaches which may lead to improved outcomes, consider contingency plans, provide forecasts based on risk analysis, and liaise with funders when circumstances change.
Key part of the fabric of the business, requiring a systematic approach to provide long-term stability. Important considerations include a review of the scope of cash flow challenges, creation of internal and external communication plans, ensure that the bank is reconciled and accounts are up to date, limit and consolidate payments to simplify cash flow management, prepare a short term cash flow visibility plan to allow decision makers to see the impact of their spending decisions in advance, review payments owed, and devise strategies to accelerate cash receipts.
On time review, completion and required filings of statutory accounts, annual returns, payroll and employee related, bank/invoice finance covenants and insurance.
Implement in a measured and methodical manner including delegation of duties and responsibilities, creation of systems across the business for managing various procedures, systems for monthly control accounts, monthly KPIs (Key Performance Indicators), processes for creating monthly management accounts and establish systems for expenditure and associated authorization/sign-off.
An ongoing project as it takes time to establish systems which enable a business to maximize its profitability. Key considerations include analysis of every area of gross profit to understand where the biggest opportunities lie. Analyze profitability by isolating data by customer, product and revenue to gain full visibility and analysis of return on investment on capital and product development expenditure.
Recording all important data in your business and presenting that data in a range of different ways to allow for effective analysis. Key facets include KPI indicators that drive the business, monthly management accounts/reports within a reasonable period of month end, reporting processes for sales and marketing so that there is clear visibility over what’s working and what is not, reporting processes for business “operations” so that activity can be monitored and improvements can be made periodically, create back office systems and processes to operate the business efficiently, introduce budgets and targets by department and allocate responsibilities to managers and analyze trends within the business and market and move to more predictable and considered forecasting to avoid panic and fighting last minute fires.
Key considerations include utilizing the work of tax specialists to solve complex issues as/when required, devise a tax planning strategy to removing the fear of the unknown, implement processes to ensure tax deadlines are met, discuss the most efficient ways for the business owner and employees to be remunerated and establish systems to record data in an effective manner for tax purposes.
Areas of Specialty
- Accounts Payable and Receivable
- Institutional Relationship Management
- Management Reporting
- Audit File Preparation
- Production Accounting
- Financial Modelling
- Compensation (Payroll and Benefits)
- Asset and Fund Management
- Tax Saving Strategies
- Unrestricted and Restricted Revenue Management
- Corporate Compliance
- Risk Management
- Cost Management
- Internal Controls and Tracking Mechanisms
- Key Performance Indicator Measurement
Representative Case Studies
“We engaged Osborne Interim Management to redesign our outdated website, wanting to modernize the design and make it easier to read and understand. Working with little direction and with a short time frame, Osborne was able to produce a dynamic, fresh and user-friendly website on time and under budget.”
David Dial – VP Corporate Services, Next Hydrogen
“Osborne Interim Management provided invaluable assistance to us as we merged three different operating entities into the new 4-H Alberta. Mark Olson as Interim CEO of the 4-H Foundation and Judy Williams as communications strategist played a significant role in our transformation and I would highly recommend their/Osborne’s services.”
Kim McConnell – Former Interim CEO, 4-H Alberta
“The Osborne Principals assisted us in identifying areas of improvement, then worked with us to make their recommended changes. Their actions have had a positive impact on the way we operate our business.”
Andy McKnight – Partner, Maskell Plenzik & Partners Eng.
“We engaged Osborne Interim Management to assess the capacity of our Canadian Operations in the wake of ambitious five year growth plans. Not only did the Osborne Principals deliver a thorough report, but they provided us with valuable tools to undertake ongoing analysis and forecasting based on a number of Canadian market variables.”
Elias Partyka – Director of Global Marketing, Gowan Company, Yuma Arizona
“As a young charity, early guidance from the Osborne Interim Management team provided timely direction as we developed the YouQuest service in support of younger families living with dementia. It was energizing to learn from each team member and very rewarding to feel their personal interest in our progress and future success.”
Myrla Burlman – Co-founder, YouQuest
“I would recommend Osborne Interim Management’s approach for any organization looking to add coaching and mentorship into their workplace for senior and mid-management staff.”
Randy Williams – President, Premiere Suites Western
“We engaged Osborne to undertake a thorough assessment of our business and the marketplace which involved interviewing multiple stakeholders in the development of a five year strategic plan. We were more than pleased with the results and wouldn’t hesitate to refer the quality of their work to others.”
Dave Hansen – President & CEO, CANTERRA SEEDS
“For organizations looking for interim executive support, I would highly recommend Osborne Interim Management. They provided us with a quality CFO until we could hire a full-time replacement for this position. It was a seamless, effective process.”
Sandip Lalli – CEO, Calgary Chamber of Commerce
“We contracted Osborne Interim Management to help transition our Foundation into the future with stronger processes, plans and leadership. We were very pleased with the results and would highly recommend their work.”
Reiny Kristel – Board Chair, Stockmen’s Memorial Foundation
“The Osborne Principals our business has engaged have delivered important support to our business in a number of areas and provided excellent value.”
Barry Schmitt – President, Barr-Ag
“On behalf of the Chiniki Nation, I would like to express my appreciation and gratitude for the remarkable work you have done in creating the Chiniki Cultural Centre. Your contribution to bringing our culture to the public, in an authentic and respectful way, has been invaluable. We appreciated your approach and your ability to bring people together in creating this special Centre where our people can celebrate their culture. We take great pride in our traditions, our culture and our history. You have created a place where those traditions can be celebrated and shared.”
Chief Aaron Young – Chiniki First Nation
“The interim management resources we brought in for a short time provided an organized overview of our HR functionality, helped to achieve a couple of senior level executive transitions without disruption and generally helped us to build a stronger organization going forward. We feel better prepared for next steps now.”
Peter Joe – CEO, Sunrise Soya Foods
“Mark Olson has completed his work as Interim CEO for Glenbow Ranch Park Foundation. This is his third assignment as an interim CEO for a not-for-profit organization that I am involved with as a Director, so I am familiar with his work. The fact that I have engaged him twice more after the first speaks volumes. You can count on a good result.”
Andy Crooks – Chairman of the Board, Glenbow Ranch Park Foundation
“I want to convey that Osborne would be a valuable resource for entities looking to engage the types of services they offer. I would not hesitate to refer someone to Osborne in the future.”
Heather Gore-Hickman – Trustee & Chair of Audit Committee, Kisoniyaminaw First Nations Heritage Trust Fund
“Osborne provided us with the interim management and business advisory services we needed at a critical juncture for the company. I would highly recommend them.”
Dr. Kevin Maloney – Board Chair, Line of Fire Inc.
“Osborne Interim was able to provide us with a Principal who helped guide us through a technology start-up. His extensive business experience complemented the technical expertise we bring to the table and he continues to provide support and assistance to allow us to smoothly bring our product to market.”
David Lloyd – COO, FREDsense Technologies
“Following the sudden departure of our CEO, Osborne responded immediately with a very qualified interim senior executive on site within days. He was able to hit the ground running, reassuring staff and implementing business processes that greatly assisted our operation. He reached out to stakeholders within the greater Habitat community and communicated recommendations to the Board. Osborne also assigned another executive with experience in recruitment to assist us in attracting and triaging talent for the full time CEO position. The end result was the hiring of a dynamic new leader transitioned in with Osborne’s support. I would highly recommend Osborne Interim Management to any organization finding itself in a similar situation.”
James Wright – Board Chair, Habitat for Humanity-Red Deer
“I have worked with both Mark Olson and Simon Batcup on a number of assignments. I would recommend them to you in any interim management, search mandate, planning mandate or strategic advisory mandate. You will not be disappointed and will regard any and all invoices and costs as both fair and appropriate.”
Andy Crooks – Chairman of the Board, Canadian Constitution Foundation
“With Osborne’s assistance, we validated our business concept in the marketplace and identified potential partners for our social enterprise, giving us more than a kickstart at launch. They listened to our goals and objectives, completed all work on time, and exceeded our expectations and the plan scope. We would recommend their services without reservation.”
Garth Johnson – CEO, Meticulon
“The Calgary International Film Festival contracted Osborne to develop, with senior management support, a capacity expansion plan that was strategic, specific and attainable. Osborne delivered on all counts and on schedule; receiving unanimous Board approval to move forward in the plan’s execution. I would not hesitate in recommending the Osborne team.”
Stephen Schroeder – Executive Director, Calgary International Film Festival