INTERVIEW: Amanda Govaere, CFO Consultant
Amanda Govaere, CEO and Founder of AMG Accounting, has been appointed CFO consultant for Roos Advisors. She will work closely with the Roos Advisors team to help them strengthen their service offerings. Partnering with a reliable and professional financial expert like Govaere, Roos Advisors will provide financial support and consultancy to their clients throughout every growth stage.
“AMG Accounting has a drive to help businesses to continue to grow and expand,” said AMG Accounting CEO Amanda Govaere. “Many times, the financial aspect is overlooked, though it is an important key factor in running and expanding a business. The financial side of business is our passion, and we enjoy figuring it out and helping clients understand it. Bringing a client-centered approach is important, and we believe Roos Advisors is on the same page. We look forward to the future endeavours and opportunities this partnership will allow for Roos Advisors and AMG Accounting, as well as for each client,” added Govaere.
How did you begin your career in Finance?
I was actually pursuing a degree in engineering when I took an accounting class as an elective. I enjoyed it so much that I took another and then, well, I changed my major.
When did you decide to get into consulting?
After working in the corporate world, I decided I wanted to do things a little differently and make it more client-focused, so I decided it was time to go off on my own.
What do you prefer: working for a firm or as a consultant? Why?
I prefer working as a consultant because I enjoy getting to speak with each client and creating a custom package to help them and their company to reach their goals. In the corporate world I often didn’t connect with clients or get to hear how they have grown or where they want to go. Every company had the same process and the same procedure applied. In my personal opinion, that isn’t the best way. I enjoy being able to apply my belief that connecting with the client and creating that custom package is the most important thing.
How would you describe the importance of financial reporting/accounting to a new business owner?
Keeping up with your finances is vital to the success of your business. Whether it is paying your vendors, employees or the IRS, you need to know your cash flow is there. You also cannot plan for the future if you do not know where you are and where you have been. Finances are the glue to continue holding it all together.
What could happen if a business owner overlooked their financials? How could they fix it?
By overlooking your finances, you can run into cash flow problems. This can mean a delay in product for your customers, or worse – trouble with the IRS. You may have goals you want your company to reach, however, if you are overlooking your financials, you may have a hard time planning the path to take to reach your goals. The way to best fix it is time and a great financial team. You should have an accountant working on your books; however, you should also have an understanding of the financials and where your company stands.
At what growth stage should a small business owner consider bringing someone in to manage the business’ financials?
This depends on the owner and how comfortable they are with accounting and finances. It also depends on where they want to go with the business. If you are someone who only wants to take on 3 or 4 clients and is comfortable with Profit & Loss Statements, you honestly may not need to bring in someone. On the other hand, if you want to grow and expand while having solid or limited knowledge of finances, then I would bring someone in from the beginning. However, it is never too late to bring someone in if you have not yet.
Describe your passion for your career in one word.
Who is your mentor in your industry?
Rowena Reyes, she is someone who taught me the basics at my very first position in Washington, D.C. She also was the one to help me get back into school and work on my master’s degree.
How did you find Roos Advisors?
By expanding my network of fellow professionals on LinkedIn I came across Roos Advisors.
What are you looking forward to the most in partnering with Roos Advisors?
Continuing to help companies that are in the stage of expansion to get their finances straight, plan their goal’s path, and follow it through. I enjoy helping others understand their positions and working out strategies to obtain their goals.