Financial insights

Finance Health Check

Fill in the Finance Health Check by CFOrent and get detailed information for your company

Introduction


Welcome to the Finance Health Check by CFOrent. Before you start this survey, we recommend to have last years closed income statement and balance sheet at hand. If any figures are not immediately available, don't hesitate to make estimations to give a general idea of the financial health of your company.

The survey will take around 10 to 15 minutes to complete.

If you have any additional questions, please contact us via the contact page.

Company information

Please complete the information below.


First name
Please enter your first name.
Last name
Please enter your last name.
E-mail
Please enter your e-mail address.
Phone number
Please enter your phone number

Company Name
Please enter the name of your company.
Function at company
Please enter your job function at the company.
Company VAT
Please enter the VAT number of your company.
Company website
Please enter the company website
Does the company consists of multiple entities?
An entity is defined as a fiscal entity and/or holding structure.

Part 1: Revenue


In the next part of the Finance Health Check, we want to know more about the revenue of your company. This can be used to calculate relevant ratios and is important to accurately assess the financial health of your company.

1.1 Business and Revenue


Please select you customer orientation
Please select your offering
In which industry is your company active?
Please specify in which industry your company is active in
Please enter a brief summary of your business model

How many revenue streams does your company have?
Please provide information for each revenue stream.

Is there seasonality?
Seasonality is referred to as the cyclicity of your business, e.g. peak sales period during winter months.
What seasonality?

Is the order pipeline tracked?
The order pipeline is a database of expected future deals.
What is the unweighted pipeline amount?
The unweighted pipeline is the total amount of expected future deals.
What is the weighted pipeline amount?
By adding a probability of succes to each deal, and multiplying this with each deal amount, the weighted pipeline amount can be calculated.

Is the revenue forecasted?
What is the forecasted period?

What was your revenue in the last 12 months / book year?
What is your average deal size?
For services this can mean the average amount a deal concludes, depending on the length of the project (monthly/quarterly/annual). For product, this can be the average product price or basket size.
How many deals does a client take off per year?
For services, this can be annual (1)/quarterly(4)/monthly(12). For products, this can mean orders per year.
How many active clients do you have currently?
For services, this can be annual (1)/quarterly(4)/monthly(12). For products, this can mean orders per year.

1.2 Other income and subsidies


Did you receive subsidies in the last 12 months?
What was the total amount granted?
Are there reporting formalities?
Reporting formalities refer to periodic reporting about resources regarding the subsidy project.
Are subsidies correctly recognized?
A correct subsidy recognition takes the amounts in result being in line with performed developments for which the subsidy was received.

Part 2: Costs


In the next section, let's dive deeper into the costs to understand the resources on which your company thrive. COGS, OPEX and team composition are the main aspects of getting a clear view on the cost structure.

2.1 COGS

The cost of goods sold (COGS) are those costs that are directly related to providing a product or service to your clients. For a product business, this means production, supplier or logistics costs. For (digital)services, this means, suppliers, staff, IT infrastructure or services,...


Do you have a clear insight in your COGS structure?
Cost of goods sold (COGS) refers to the direct costs of producing the goods sold by a company.
What are your COGS in the last 12 months/ last book year?

Are you tracking cost efficiency?
Tracking cost efficiency is mostly reflected by the gross margin. In development phase this can refer to budget accountability and follow-up.
Is there a budget estimation?

Are there sustainable supplier relationships and/or price agreements?
A sustainable supplier relationship, or price agreements refer to committed contracts for providing products or services.
With which main suppliers are contracts committed?

What is your main COGS driver?
The main COGS driver reflects the largest cost

2.2 OPEX

In the next part, we want to go deeper into the operational expenditures of your company. Operational expenditures (OPEX), also referred to as 'Overhead costs', are the general costs incurred in order to support the business activities. These may include R&D, Sales & Marketing or General & Administrative costs.


Staff Costs

How many FTE's are currently active?
To asses team composition, we refer to full-time employees (FTE's). For example, this can be 0.6, for a freelancer working permanently for the company on a 3/5 basis.
Do you have a FTE reporting system?
For an FTE reporting system, we refer to an overview of current and prior employee details. (Start- and end date | Salary | Benefits | Contract)
Do you have a clear view on the employee's cost to company?
How many employees are in your finance team?
Which of the following profiles are present in your finance team?
Please specify which other profiles are in your finance team
What are your total staff costs in the last 12 months / last book year?

Operational Costs

Do you have a clear insight in your operational expenditures?
What were your OPEX costs in the last 12 months / last book year?
What are your mean OPEX cost drivers?
Which of these costs are the main drivers for your business model?

Part 3: Cash

Monitoring cash is often a difficult exercise. Being based on partial information and assumptions about the future, it may be important to define a clear framework.


How is cash monitored in your company?
Who is the current owner of this process?
Are there any concerns about cash management and/or planning?
What are these concerns?
Is your company currently operating cash flow positive?
What is your monthly gross cash burn?
The gross cash burn refers to the total average monthly cash outflow in the current growth phase. (Please enter negative amount, excl. financial outflows - loans/capital)
What is your monthly net cash burn?
This is the gross burn including income. It refers to the current average monthly cash flow excl. financial inflows (capital/loans).
What is the runway of your company in the current growth phase?
The runway is defined as the expected number of months the company remains in business given the current cash burn assumptions.

Part 4: Financial Metrics

In the next part we will present you with some financial metrics based on your input. These metrics are an important indicator of the financial health of your company. If you have additional questions about these metrics, feel free to reach out at any time.


4.1 Gross Margin %


Based on your input, your % Gross Margin is:

%
This percentage represents the cost efficiency of the business model. It is calculated by dividing the Gross Margin (Revenue - COGS) by the total Revenue.
How do you track your Gross Margin?
How accurate is the % Gross Margin presented above?

4.2 OPEX %


Based on your input, your % OPEX is:

%
This percentage represents the operational efficiency of the company. It is calculated by dividing total OPEX by total Revenue.
How do you track your OPEX Base?
How accurate is the % OPEX presented above?

4.3 EBITDA %


Based on your input, your % EBITDA is:

%

What is your EBITDA in the last book year / 12 months?
The EBITDA is the most widely used metric to assess the overall profitability of a company. It is calculated by taking all operational income and costs into account. (EBITDA = Earnings Before Interest, Taxes, Depreciation and Amortisation)

Part 5: Liquidity


Is the net working capital monitored?
The Net Working Capital (NWC) is the net required balance for maintaining amounts receivable, payable and inventory.
What is the process of monitoring NWC?
Who is the current owner of this process?

What is your average Balance Accounts Receivable for the last 12 months / last book year?
Accounts receivable (AR) refer to the total amount of invoices to be paid by customers at a certain point. To answer the question below, please estimate the average balance over the referred accounting year.

Based on your input, 'Days Sales Outstanding (DSO)' is:

Day Sales Outstanding (DSO) is a measurement of the average number of days a company typically takes to collect revenue once a sale has been completed.
Do you track your DSO?

What is your average Balance Accounts Payable for the last 12 months / last book year?
Accounts receivable (AR) refer to the total amount of invoices yet to be paid by your company at a certain point. To answer the question below, please estimate the average balance over the refered accounting year.

Based on your input, your 'Days Payable Outstanding (DPO)' is:

Day Payables Outstanding (DPO) is a measurement of the average number of days a company typically takes to pay its invoices.
Do you track your DPO?

Do you have inventory?
What is the Average Inventory Value?

Based on your input, your 'Days Inventory Outstanding (DIO)' is:

Days inventory outstanding (DIO) measures the average amount of days inventory a company has in terms of COGS. In other words, how many days a company can sell on average before running out of stock.
Do you track your DIO?

Part 6: Solvability


Is the company funded by debt?
Which type of funding?
Are there committed credit lines active?
A committed credit line is a formal contract with a credit institution in which an amount of capital is available upon request.
What is the committed amount?
How much of the committed amount has been taken up?
Is the company funded by external capital?
Funding by external capital means a direct investment of third parties.
How many funding rounds have there been?
What is the amount of external capital attracted?

Part 7: Accounting principles & processes


Is your Statutory accounting aligned with your Management reporting?
Statutory accounting refers to the closed accounting data.

Is revenue recognized?
Revenue recognition is the principle of matching the revenue to the period in which the goods or service is delivered. For example, this may be recognising an annual subscription income over 12 months.
How is revenue recognized?
How is your revenue recognition process organized?
Who is owner of this process?
How are subsidies recognized? (select what is applicable)

Are costs provisioned?
Costs provisions are registered to include costs incurred in a certain period, but for which no invoice is included in the statutory accounting.
How frequently are costs provisioned?

Is there an accounting closing process?
How frequently do you execute the accounting closing process?
How is your closing process organized?
Who is owner of this process?

Are there (in)tangible assets activated?
Activating costs refers to booking costs as investments on the balance sheet, on which depreciation is accounted as periodic costs in the income statement.
Are there any current accounts?
A current account exists when an amount payable or receivable with an affiliated actor.

Invoicing

How is your outgoing invoicing process organized?
Who is the owner of this process (job function)?

Collection

How is your collection process organized?
Who is the owner of this process (job function)?

Recognition

How is your recognition process?
Who is the owner of this process (job function)?

Closing

Who is the owner of the closing process (job function)?
Is there a forecasting/budgeting process?
Who is the owner of the forecasting process (job function)?

Conclusion

Thank you for providing all information. We will process this information and contact you to discuss a detailed analysis of the results. If you have any additional questions or remarks, please contact us via the contact page.


Overview of the calculated financial metrics:

Based on your input, your % Gross Margin is:

%

Based on your input, your % OPEX is:

%

Based on your input, your % EBITDA is:

%

Based on your input, 'Days Sales Outstanding (DSO)' is:


Based on your input, your 'Days Payable Outstanding (DPO)' is:


Based on your input, your 'Days Inventory Outstanding (DIO)' is:


What is your reason for filling in the Finance Health Check?
Please specify the other reason for filling in the Finance Health Check.

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