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PKF Texas Video Vignette - Economic Challenges

Greg Price

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Greg Price and Byron Hebert discuss economic challenges and options for owner/operators.

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Greg: This is PKF Texas, The Entrepreneur's Playbook®. I'm Greg Price, Director of Consulting Solutions and I'm here with Byron Hebert, Director of Entrepreneurial Advisory Services at PKF Texas. Byron, welcome back to the Playbook®.

Byron: Thanks Greg. Good to be here again.

Greg: So Byron, one of the things that we hear in the community today is there are economic challenges and all kinds of things that keep people up at night. So for owner/operators, are you seeing any trends out there that maybe our audience would like to learn about today?

Byron: You know Greg, what we've seen an increase in is companies wanting to outsource their Accounting Department, whether it's outsourcing the complete department or having us come out once a month to go over the numbers, reconcile the balance sheet and look for key performance indicators in their business.

Greg: You know the accounting function's pretty critical. Why would someone want to outsource that function?

Byron: It's the world we live in, right? But for entrepreneurs it's a bit of a black box. So a lot of times, what they want to do is having someone in there that they trust, they know will be there for them. They may be concerned that their Controller's gonna leave, win the lottery and go somewhere else. We can provide that stability for them. And besides, with the expertise we have, we can start identifying key performance indicators for them; help them measure the things that matter in their business.

Greg: You know stability and reliability are certainly critical for great financial reporting. Byron, thanks for sharing that information with us today and we'll get you back on the Playbook® another time in the future.

Byron: I look forward to it. Thanks Greg.

Greg: This has been a Thought Leader Production brought to you by PKF Texas, The Entrepreneur's Playbook®. Tune in next week for another chapter. And remember, debits are on the left and credits are on the right.

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