Frequently Asked Questions
How many time periods can I analyze?
The CFO Scoreboard has the ability to analyze as many time periods as you would like to upload. We suggest starting with 3 years' worth of data in order to spot trends. The periods of time you measure should be exported from you accounting software in a monthly format.
Can I use the CFO Scoreboard to project or budget future time periods?
Yes. With this software package, you have the ability to model different financial activities and decisions without have to be a financing expert. For example, you can see the financial impact of growing sales or cutting expenses or borrowing money. You have the ability to project varying receivable or inventory days. Probably the most powerful aspect of CFO Scoreboard is its ability to project cash flow. Sadly, most business owners only project an income statement.
Is the CFO Scoreboard compatible with both Microsoft and Apple?
CFO Scoreboard is a cloud based application. All you need is access to the internet.
What information has to be entered into the software to get started?
CFO Scoreboard requires that you upload at least one month's worth of data from your income statement and one month's worth of data from your balance sheet.
How long will it take to set up CFO Scoreboard and start using it?
Typically, the set up is less than 15-20 minutes. The CFO Scoreboard also has a very robust video support section which reviews each section of the software. The Support section may be accessed at any time by clicking on your name in the upper right hand corner of your screen and selecting Support in the dropdown menu.
What if I have questions?
The CFO Scoreboard Software has a 2+ hour Buyer's Tour and Support section. Most questions can be answered by watching the corresponding video. In addition, our support team is ready to assist you with any issues or questions you may have.
What if I know nothing about reading financial statements?
The reason Keith created the CFO Scoreboard Software was because so many business owners, executives and entrepreneurs did not understand basic financial statement analysis. The software takes the mystery and the math out of the process so that your time can be spent looking at trends, discovering problems and designing solutions and strategies which will improve your financial performance. Regardless of your financial acumen, the CFO Scoreboard is easy to understand, simple to use and thorough in the results you will receive.
Does the size of the business matter?
No! The CFO Scoreboard is designed to work on any business regardless of size. Whether your business has $25,000/year in annual sales or $250,000,000, the software will direct your attention to the problem areas and save you weeks of time and frustration.
What if I have a service business?
Great question! Some businesses have a different set of financial measure. For example, some businesses have inventory and costs of goods sold. Other businesses don't. The ones that don't are usually service-based businesses. The software provides you with the same incredibly useful information, regardless of the industry you happen to be in. In addition, some of the calculations are even tailored specifically for service-type businesses so that you have the ability to measure ALL the financial information and Key Performance Indicators ("KPIs").
Can I share my company with another CFO Scoreboard user?
Yes. As long as the other CFO Scoreboard user has a current subscription, you may share your company information with that user.
What accounting systems does CFO Scoreboard support?
All accounting systems are supported.
Can I use CFO Scoreboard if I don't have Quickbooks?
Yes, you can. We have templates available to show you how to convert your data so that it is easily uploadable. We also have a support desk that you help you with the initial upload if you have issues or questions.
How many companies or businesses can I analyze?
Each subscription allows you to analyze 1 company. Additional companies may be purchased. And if you are a professional services firm such as an accountant or business coach, we have packages available for you. Just contact our office for more details.
What if I have multiple users or want multiple copies?
Each subscription comes with 1 company file, 1 primary user and 1 helper. You may purchase as many subscriptions as you need.
How is the CFO Scoreboard Software delivered to me?
Once your payment is processed, you will receive a welcome email from CFO Scoreboard instructing you to set up your account by adding your password. Once you have done so, that's it. You are then able to upload your files and begin using CFO Scoreboard.
Is there an annual subscription fee?
Yes. CFO Scoreboard is a yearly subscription based software package. You may purchase it for $2,495. The annual fee is billed on the anniversary date of the renewal.
Are there instructions with CFO Scoreboard?
Yes! The CFO Scoreboard Software has a very robust, indexed video instruction and teaching section included. The video can be accessed on demand simply by going to the Support area of the software.
What if my numbers are formatted differently from the input worksheets in the CFO Scoreboard Software?
No problem. Your accountant or bookkeeper should be able to easily help you format and classify your data for upload into the CFO Scoreboard.
Does the CFO Scoreboard Software interface with my accounting system to allow me to automatically upload my financial statements into the Software?
No. There are numerous accounting systems available to business owners and attempting to interface with all of them would be virtually impossible. Furthermore, the CFO Scoreboard Software is NOT designed to be an accounting tool. The software is a financial analysis tool which relies on the accounting information provided to measure, analyze and diagnose your financial results so that you can proactively manage your business to create the best sustainable financial performance possible.
Does the CFO Scoreboard work in countries other than the United States?
Of course! Financial statements serve the same purpose and work the same way regardless of the country. Financial analysis does, too. Cash flow is cash flow. Net Income is net income. Return on Assets… You get the picture. Some countries do have differences in certain descriptions or labels. For example, in some countries, Sales is referred to as "Turnover". CFO Scoreboard is currency neutral, which means you can use any currency in the world and the results will be unaffected.
What if I need coaching?
Advanced coaching is available which will support you on understanding and analyzing your business CFO Scoreboard optics. Please contact us for details and pricing.
What if I have difficulty uploading my numbers?
Our support team is ready to help with any issues you may have.
