Advanced CFO Solutions: Three Keys to a Great CFO

Advanced CFO Solutions (http://www.advancedcfo.com) is based in Cottonwood Heights, UT.  Advanced CFO Solutions (@AdvancedCFO) provides outsourced CFO’s for companies that don’t want to hire a full-time CFO. Founder and CEO Kent Thomas sat down to talk with Ascent Advisor (@AscentAdvisor).   Ascent Advisor:  What role is your company filling for up and coming companies here in Utah? Kent Thomas:  The short answer is that we are the outsourced controller or CFO for smaller companies [usually under $30 M] that don’t need or can’t afford a full time CFO. We have two basic offerings: The first is a turnkey accounting service that started several years ago when we started to do bookkeeping because we realized our clients couldn’t find a competent bookkeeper for 5 hours a week.  It wasn’t a profit center for us because it’s so labor intensive. When I learned that companies in India were offering bookkeepers for $3 an hour, I thought to myself: “How do you compete with that?” Technology is the answer, so we have integrated a mix of proprietary and third party technologies (all web-based, SAAS technologies that include expense reporting services, bill pay services and others) all done on the cloud, available 24/7, and paperless to provide everything from bookkeeping to reporting to CFO work for a flat monthly fee that is a fraction of the cost of a full time accountant for over 30 clients. The rest of our 100+ clients range from $5 to $50 M in annual revenue and they hire us because they need strategic financial advice, budgeting, and cash flow management but don’t need or can’t afford a...

3Pillar Global: Uniting Innovation and Development

3Pillar Global (http://www.3pillarglobal.com) based in Fairfax, VA  is the 436th Fastest Growing Company in the Inc. 5000.  3Pillar Global (@3PillarGlobal) is a trusted partner in software product development. Founder and CEO David DeWolf chatted with Ascent Advisor (@AscentAdvisor.)   Juan Riboldi- Ascent Advisor:  What was your original vision that led you to found 3Pillar Global? David DeWolf: The phrase “original vision” is, quite frankly, a bit misleading because there was originally no vision. I’d worked for multiple consulting companies and after going through different acquisitions and IPOs, I was done trying to find the next consulting firm.  So when I started 3Pillar it was about being an independent consultant, where I could focus on two things: the types of software products I wanted to develop and the types of people I wanted to work with.  I was passionate about having the freedom to maintain a strong focus on building great products and working with very high-performing teams.  Over the first 6 months as an independent consultant I ended up finding too much work to handle, and I responded by introducing these companies to colleagues who could take on the work.  One of those times the company came back to me and said, “We’d love to use them.  How much do we have to pay you?”  I’d never even thought of that, I was just making a friendly introduction. So that was my first subcontractor and how I started the company.  I used the subcontractor model for a while then I realized I might want to hire some of them.  I’ll never forget, 18 months into starting the company I was on my...