Business Services

CFGI assists business services organizations in assessing their operating model and designing and implementing the people, process, and technology changes necessary to streamline operations, address the challenges of rising costs, and optimize performance and value creation, including:

• Automation & Analytics – Digital transformation leveraging data ecosystems, Robotic Process Automation (RPA), and advanced analytics to develop key performance indicators (KPIs), derive actionable insights, and fuel strategic decisions.
  
  
• Technology Solutions – Helping your organization best leverage technology by aligning with the needs of your business, drawing on vendor selection, program management, and system implementation experience.
  
  
• Financial Planning & Analysis – Maximizing the value of your FP&A function and leveraging industry expertise, data fluency, and a hands-on approach to strategic business partnering.

Analyzing your revenue arrangements and determining the correct recognition methodology under ASC 606 can be a daunting task as service offerings and operating models continually evolve in the business services industry. CFGI has the expertise to help you assess and proactively consider the accounting implications of your different types of revenue arrangements. We work with business services clients to evaluate and structure their contracts with customers to ensure compliance with the complexities introduced by ASC 606 and assist with the implementation of IT systems and other solutions to automate their contract management and revenue recognition processes.

Under ASC 842, both operating and finance leases need to be recognized on the balance sheet. The new accounting has a significant impact on how companies manage their lease portfolios and report their financial statements to stakeholders. Our lease accounting specialists help business services organizations comply with the new requirements by developing accounting policies and implementing new processes, controls, and automation technologies to optimize lease management, accounting, and reporting.

To better adapt to the continually evolving industry and achieve synergies to drive profitability, the business services industry has been experiencing a high level of consolidation and merger and acquisition activity. Whether it’s assessing the accounting for an acquisition or divestiture, integrating or standing up the finance, accounting, or treasury functions of an acquired business, preparing for a carve-out or spin-off transaction, performing valuations of the underlying assets and liabilities acquired, executing buy or sell-side due diligence, or evaluating the tax impacts of a transaction, CFGI has the established expertise to ensure all M&A related implications and challenges are considered.

The Business services industry has been experiencing challenges caused by the transition to a remote work environment and a highly competitive landscape for talent. CFGI provides highly skilled professionals that assist business services organizations in a variety of functions including accounting and finance, FP&A, IT systems implementations, business transformation initiatives, and internal audit and compliance. Our interim resources can partner with your organization for both short-term and long-term functions and project-specific initiatives, and we do this effectively, with minimal ramp-up time, while seamlessly integrating with your internal team.