Since the Trump tariffs started early this year, companies with global supply chains have been working to understand and manage the real-world impact.
At 8020 Consulting, we’ve worked with a variety of companies that want more visibility and greater control of their expenses. Those companies might start with obvious questions:
While M&A transactions can be daunting tasks for both buyers and sellers, generally the management of the seller (i.e., the “Target”) faces the most stressful phase of the process: the initial financial due diligence.
Written documentation of accounting procedures is often given a low priority in the accounting department. Many companies have seasoned employees, who may not need step-by-step directions to complete the monthly close process, prepare account analysis, or complete account reconciliations. In the interest of completing other business-critical tasks, they push updating written procedures to the back burner.
And they drastically increase their risk should a key employee abruptly leave.
Many owners dream of growing scalable businesses and have worked hard to achieve “optimal readiness.” Now there’s an offer on the table. This is the moment to rally the finance and accounting teams and round-up the typical A-Team transactional advisors, including the investment bankers, CPAs, M&A attorneys, and tax specialists.
Years ago, I led the financial team at Overture Films. Overture was imagined and run as a filmmaker-friendly studio, and it was built by experienced executives from the MGM of yore. It ran similar to a startup in that we operated lean, independently, and flexibly, but as a subsidiary of Liberty Media, we had the benefits of access to capital.
In reflecting on my experience, I can’t stress enough that finance needs to be a business partner within the organization, especially for entertainment startups, in order to achieve and sustain business growth.
Preparing for your first financial statement audit can be a daunting and nerve-wrecking task. Some companies often don’t know where to begin, so they spend countless hours preparing things that are not applicable for the audit and put unnecessary strain on their time and resources. If your company is not properly prepared, your first financial audit can be a very arduous and expensive task.
Even if you’ve done your shopping and selected NetSuite as your preferred Enterprise Resource Planning (ERP) platform, it’s likely you still have concerns about migrating your data from your current systems into the cloud. We’ve worked with a lot of companies through the migration process, and we want to share some best practices we’ve picked up along the way. Let’s cover what you should consider when switching to NetSuite.
Distribution finance in entertainment is about quantifying and maximizing the value of opportunities. Sounds straightforward enough, but in a field so complex and fluid, it’s not always easy to stay ahead of the knowledge curve. Distribution deal-making can be a particularly thorny area, with even seemingly small decisions having dramatic effects on profits. How can content producers work with their distribution teams to build the most effective deals possible – and get buyers interested?
NetSuite’s flexibility and wide range of capabilities have contributed to its increasing popularity as an Enterprise Resource Planning (ERP) platform. If you’re interested in automating financial processes with NetSuite, but aren’t quite sure how to get started, here are a few big ideas to consider.