Outsourcing Your Financial Right Hand - Cyber CFO

1. Outsourcing Your Financial Right Hand - Cyber CFO • Access to a professional team with a wider range of skills and experiences. • Cost savings. • Timely and accurate internally generated information to help manage your business. • Strategic planning for growth and profit. • Candid advice without employee bias.

2. TR Cyber CFO Joseph F. Hannan, CPA 21st Century Service Model Used By: Trien Rosenberg

3. Tradition • Business owners need timely and accurate management information, but traditional accountants focus on history, emphasizing reporting to banks, tax authorities and regulators. • Emphasis on information demanded by outsiders diverts resources from planning and consultative services.

4. Came the Revolution • CPA’s began using specialized microcomputer based productivity tools. • Early adopting clients saw an opportunity to control costs using inexpensive, feature rich accounting packages using plain English.

5. Came the Revolution • Innovative entrepreneurs saw the advantage of knowing “How am I doing?” RIGHTNOW rather than being told in the middle of next month. • Owners gained a better day to day feel for CASH FLOWS and other financial aspects of their businesses.

6. What Went Wrong • User benefits were lost - the typical CPA had to spend time adjusting records and linking or reentering information. • Plain English accounting records are confusing to most CPAs. • Links between these accounting packages and the CPAs’ software were either missing or difficult to use.

7. Avoid Mistakes • Demand your CPA’s involvement in process reengineering your accounting function - building the analysis and filing systems that support accounting records. • Involve your CPA in the selection, installation and configuration of your accounting software.

8. Maximize User Benefits • Money spent planning the architecture of your accounting system will reduce the annual cost of your bookkeeping and compliance services. • Learn from your CPA /Advisor - insist on GOING OVER THE NUMBERS until both of you are confident they are reliable and YOU know what they mean.

9. Cyber CFO Services • We reengineer the client’s plain English accounting records to produce instant, accurate internal financial statements - reusing the same data to create tax returns and financial statements for third parties. • Time is money - e-mail, remote access and file transfer reduce the need for inefficient “face time” in the record keeping process.

10. Cyber CFO’s Additional Benefits • Electronic transfer of data avoids inefficient data reentry. • Having the details of the client’s records (received electronically) reduces the need for personal inquiries (What was the date of that state tax payment?). • Telecommuting allows time efficient consultation and support on the client’s schedule.

11. Cyber CFO’s Added Value • Clients retain up-to-date accounting records, and have immediate access to accurate financial information. • Face to face meetings are for planning long-term growth and profit. • The early stage business acquires future oriented consulting services.

12. Trien Rosenberg’s Cyber CFO Services Provide: • A well developed network of bankers, angel investors, venture capitalists and others who bring capital and valuable experience to early stage businesses. • Proven track record helping early stage businesses grow. • Up-to-date knowledge of Information Technology plus traditional tax and accounting services.

13. How to ContactTrien Rosenberg: Joe Hannan at Extension 110 Jay Trien at Extension 123 Certified Public Accountants and Business Consultants 177 Madison Ave 120 Broadway - 36th. Floor Morristown, NJ 07962-1982 New York, NY 10271-0002 TEL. (973) 267-4200 TEL. (212) 619-0525 FAX (973) 984-9634 FAX (212) 385-0215 jay@trienrosenberg.com TRIEN ROSENBERG ROSENBERG WEINBERG CIULLO & FAZZARI, LLP