Today we’d like to introduce you to Connie Wright.
So, before we jump into specific questions about the business, why don’t you give us some details about you and your story.
Ann and I have worked separately in our industry for 20 years. 4 years ago, we joined forces and took her existing company and rebranded and tweaked our business model to address the market place needs. We have focused on 3 key market place needs: 1) addressing the startup and emerging company issue of needing superior accounting and financing talent on a fractional basis providing CFO, Controller and staff teams to our clients, the team approach allows our clients to access in a cost-effective fashion the full spectrum of skill sets at the appropriate price points; 2) technical accounting at a Big 4 caliber on an as needed basis. Our clients might only need this quarterly or at year end and have access on a just needed basis; 3) hiring a permanent workforce to provide stability to address long term client needs. This workforce includes full time and part time permanent staff.
By focusing on both hiring and client needs, we’ve been able to grow yet keep high professional standards. Ann and I made strategic hiring decisions to provide top talent to our clients. In addition to former Big 4 CPA’s we work with parents re-entering the workforce seeking to refresh skill sets, juggle schedules and manage work/life balance. With highly competitive benefits, we can bring best of breed/practice talent in our teams; because serving client is really all about the right talent.
Ann and I both come from Big 4 accounting backgrounds, and brought different approaches to our business. We are a bit opposite that balance each other out. From this we have developed the CRCFO team protocols as a client service model. This means out clients get a consistent approach and aren’t subject to a haphazard service delivery. There is no luck of the draw. It might make Ann’s and my job harder, but we keep our clients longer and create stronger CRCFO teams.
Has it been a smooth road?
Of course we had speed bumps. Two issues have been in hires and lack of marketing. One was unintentional, the other while strategic has its own consequences.
In regards to the former; we had a few mis-hires. Mostly wrong personalities. Our work requires a very client centric mindset. And because we are fractional, our team might have multiple client assignments, meaning any given week they might have 3 to 10 client responsibilities. This juggle isn’t for everyone, and we need to “provide service with a smile” even when our clients are gruff. A wrong hire in a small business is not just dollars out the door, but disrupts the team. Today, we have a high-quality team in place, but we had few bruises getting there!
Marketing (or rather lack thereof) was intentional in the beginning. We were focusing on our service model. Providing outsourced accounting to our clients, with technical accounting assistance support and then throw in tax services; which service was going to be the lead? We also moved from providing clients individuals to a team approach (which is unique in this market, most firms present individuals to their clients). And we also developed and incorporated our unique protocols to client service. As these were all being tweaked and sorted out, keeping client service as our first and foremost requirement; let’s just say that while we grew in excess of 35% last year, we were a really well-kept secret to the market place. The VCs and private equity firms don’t really know us, even though we are their CFO and accounting team in their portfolio companies.
Marketing is our big initiative this year. Ann has undertaken working on our website while I’m at undertaking pushing our physical presence, both in speaking and attendance to industry based events.
So, as you know, we’re impressed with Charles River CFO (CRCFO) – tell our readers more, for example what you’re most proud of as a company and what sets you apart from others.
CRCFO is the outsourced accounting and finance team to startup, emerging and small businesses who seek high caliber talent but only require this service on a fractional basis. Because we provide a team based approach, our clients might use us 8 hours this week. 5 hours next week and 20 hours the following week. That might include strategic discussions with the assigned CFO, working with a member of the tax team, general bookkeeping and a special project on equity accounting or revenue recognition. Our clients have access to top accounting, finance and tax talent on an as needed basis for recurring and one-off projects.
We operate as a professional services firm. Our team are not temps, rather, our employees whom we train and manage. Our senior management are 90% former Big 4 trained CPAs with strong client service skills. As a wholly owned women firm with over 90% female employees, we focus on meeting our teams personal and professional goals.
This might seem cliché, but we provide top benefits and pay competitive salaries, allowing us to hire some of the best talent and meet their schedule requirements. It makes a difference. Many of our clients are in the life science and technology industries where complex accounting and industry knowledge is key. We are proud to hire the best, meet their needs, which in turn means we can meet our client’s needs.
Let’s touch on your thoughts about our city – what do you like the most and least?
Boston is a city of firsts and superlatives. This includes top universities that makes for a fertile start up environment. It’s a great city to work and play in. Nothing beats stepping out to lunch to get a quick bite at a food truck or dining at a top restaurant. Walking around the greenway or common, playing tourist and going to one of our world glass museums, yet having a full-service business community right at our finger tips. When we help our client’s s raise capital, we just cross the street to sit with a VCs, great banks (local and international) and any other myriad of financing sources. When our clients need an IP attorney or audited financials, we have world class firms to refer them to….
I do wish we had a more robust and up to date public transportation system. Better service and parking to our trains with better connections around our cities.
Contact Info:
- Website: CRCFO.com
- Phone: General 781.431.0420 cell 617.634.2982
- Email: cwright@crcfo.com
Image Credit:
Bernadette Markey
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