As part-time CFOs, our role places us at the heart of the financial management of numerous companies. From fledgling startups to well-established mid-sized companies and rapidly expanding small and medium-sized enterprises, it’s safe to say we see it all. The year 2024 was particularly rich in insights and lessons learned. In this article, we share the 20 key takeaways from this year of working with more than 50 clients.
1
Political uncertainty has a direct impact on business
Between the dissolution of the National Assembly and the formation of the new government—which has (already) faced a motion of no confidence—there is a degree of uncertainty that is significantly hindering many investment projects.
2
Access to financing has become more complicated
With a record number of bankruptcies this year, banks are being much more selective about what they finance. We have seen some banks turn down applications even with very strong collateral.
3
The government's presence has grown stronger
With the multitude of taxes, tax credits, and subsidies, dealing with the government becomes increasingly burdensome as a company grows. This requires rigorous organization to effectively meet these obligations.
4
Crowdfunding is becoming a viable solution
With rising bank interest rates and limited access to credit, crowdfunding is increasingly emerging as a viable alternative. We successfully used it for one of our clients. Crowdfunding also helps build a community around the brand or company, which is particularly important in the B2C sector.
5
Private equity remains a powerful tool
But funds are now prioritizing projects with proven market viability, marking the end of the blind investments of the early 2020s.
6
Fintech companies offer effective alternatives
The non-traditional solutions offered by fintech companies, such as digital factoring and quick loans, provide ever-greater flexibility.
7
Cryptocurrencies are now part of the conversation
With an uncertain and fluctuating economic climate leading to currency volatility, more and more international transactions are now being conducted in cryptocurrencies (BTC, ETH).
8
Investor scams are on the rise
The number of fake family offices demanding commissions in cryptocurrency is on the rise. It is more important than ever to remain vigilant.
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9
AI Is Transforming Businesses
80% of our clients use an AI tool. And yet, we’re only just getting started. We’ve helped implement AI solutions at more than a dozen companies, and demand is growing.
10
Digitizing financial processes is a necessity
We have implemented cloud solutions for our clients, thereby reducing their administrative costs and enhancing their real-time analytics capabilities.
11
Cybersecurity is an essential investment
With the rise in cyberattacks, we have emphasized to our clients the importance of securing their data, particularly their financial data.
12
Cost optimization remains a priority
Whether it involves renegotiating supplier contracts or streamlining expenses, optimizing margins in an inflationary environment is essential.
13
Recruiting costs far too much money
A poor hire, training the new employee, payroll expenses, fees charged by specialized firms (which cannot guarantee a successful hire) … Even the slightest hiring mistake can quickly cost €100,000.
14
France remains an attractive destination
We have helped four foreign brands establish a presence in France. For all of these brands, the stakes in the French market are enormous.
15
Being extremely successful doesn't guarantee that you'll move forward without making mistakes
We have seen how past successes are not enough to guarantee future success. Simply replicating old methods rarely works in a new context.
16
You can learn from jerks, too
Dealing with toxic people is a common occurrence in the world of entrepreneurship. But there are always lessons to be learned.
17
Preferred business partners could improve their customer experience
In some cases, the focus on acquiring new customers seems to divert attention from the needs of existing customers. This is particularly true in industries such as banking and accounting, where a customer retention approach would be appreciated.
18
Training leaders is essential
Thanks to our Qualiopi certification, we have been able to train some of our clients to better manage financial and human resources, ensuring more effective oversight of their work.
19
Innovation is the driving force behind differentiation
We have encouraged our clients to invest in innovative technologies and business models to remain competitive in a constantly changing environment.
20
Risk analysis can no longer be overlooked
We have helped our clients incorporate stress-testing scenarios to better anticipate the impacts of crises.
At Kashflo, we’ve been supporting companies with annual revenue ranging from €300,000 to €25 million for the past five years. Every year, we gain significant new insights. For our clients, this is also the value of a part-time CFO: each of them benefits from the lessons learned through the experiences of others. It’s the power of the collective, so to speak.