Finance

How a CFO on-call transformed this business

- January 10, 2020 2 MIN READ

Jenny Marsh is the owner of a successful franchise business ATM2GO, which since 2011 has been providing the convenience of cash to events and businesses through ATM services. With 17 ATM2GO franchisees based all over Australia, Jenny says that she was finding it difficult to keep track of and properly understand her business’s numbers due to the complex nature of its structure.

All that changed after a fortuitous conversation with her lawyer led her to someone who would help her to make sense of it all.

“I came across Michael [Mee] through my lawyer. I told him that I needed a business coach to help tidy things up and he suggested Michael’s services,” said Jenny.

Michael Mee is a Partner of CFO On-Call, a company which connects small and medium business owners with experienced Chief Financial Officers to help manage (and improve) their business numbers.

An experienced Chief Financial Officer with strong commercial acumen, Michael worked with Jenny to implement a streamlined reporting system for ATM2GO that would prove invaluable for future management.

“Michael came in and implemented a range of new systems and reports that we still use today,” said Jenny.

“I now have a P&L which I can read and actually understand!” she added.

Jenny says that having someone like Michael available to chat to is a great relief to her as a business owner.

“Michael’s great at putting things into layman’s terms and helping us make sense of complex concepts,” said Jenny.

“And his value doesn’t just stop at numbers – due to his commercial background he has also been a great asset to us in terms of recruitment and managing staff.

“Michael has acted as a great sounding board for me for all sorts of things. For example, I recently bought a new business but before I made the decision, I wanted to run it by him to ensure everything was up to scratch,” she added.

While Jenny doesn’t rely on her CFO On-Call’s services as much as she used to, she jokes that it’s a sign that Michael has done his job well.

“I still meet with Michael once every few months to go over the bigger picture, but he has done such as great job of getting us running smoothly that we don’t need him as much as we used to,” said Jenny.

“And I think that’s what people need to understand about using a service like CFO On-Call – it’s not necessarily a lifetime commitment, but an investment into getting your business running smoothly.

“When I first met Michael, we had very little understanding of how we were performing and how we could improve. Now we can make informed decisions about our business and see what’s working, and what’s not,” she added.

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