The CFO'S Perspective

Spotlight on Preventing Waste: Leanpath – Pioneering Food Waste Reduction Technology

Editor’s Note: We are fortunate to have many exceptional clients. From time to time, we include “Company Spotlight” posts in our blog to express our gratitude and appreciation for the awesome work they do and the accomplishments they achieve. Enjoy!

Leanpath understands that what gets measured gets managed, and what gets managed gets improved.

Traditionally, food waste in high-production kitchens was “invisible.” It would be thrown away throughout the day with no one aware of its accumulated weight and cost. Food waste needed to be measured so kitchens could manage it and improve it. So, they could finally “see” it. But how to make that tracking easy? Leanpath CEO Andrew Shakman asked that question 16 years ago.

The answer was a technology suite introduced in 2004 that, today, represents a complete food waste prevention platform consisting of in-kitchen tracking devices, analytics software that crunches food waste data, and coaching programs that help kitchens understand their data and act on it to prevent food waste.

Leanpath cuts its clients’ food waste by 50% or more. Since 2014 alone, working with thousands of kitchens across 40 countries--with clients including Google, IKEA, Aramark and Sodexo--Leanpath has empowered culinary teams to prevent over 55 million pounds of food from being wasted.

Topics: Success Story client spotlight

Certainty in Uncertain Times

In uncertain times businesses need continued access to experienced bookkeepers and accountants to keep cash flowing. Whether the need is part-time, interim, or project-based, a third-party financial professional can offer the information needed to make strategic business decisions. This need does not change when people are working remotely. In fact, with so many businesses temporarily pausing operations, the need for bookkeepers and accountants is likely greater than ever before.

While the future may be uncertain, there is one immutable certainty – businesses still have access to the reputable, qualified bookkeepers and accountants that they need to keep their organizations afloat. These kinds of key personnel aren’t going anywhere and are available to help businesses navigate today’s unique challenges.

Topics: Finance Accounting Hiring Change Management Transition COVID-19

How Can a CFO Help in a Time of Crisis?

The current economic uncertainty has many businesses closely evaluating their current and future staffing needs. While some positions are being cut, especially in the hospitality and travel sectors, many businesses are strategically hiring financial professionals into executive leadership positions during the downturn.

Companies that previously had tasked their CEOs with handling finance functions are now hiring dedicated CFOs (or outsourcing CFO roles to reputable third parties) to ensure they will be able to weather the new economic storm. With ambiguity over how long businesses will need to keep their offices and storefronts closed paired with unpredictability in the stock market, business owners and CEOs are feeling increased pressure to make critical strategic financial decisions for the health of their organizations.

Topics: Finance CFO Leadership CFO Responsibilities Interim CFO Strategy

2020 Pandemic Crisis – What to Focus on Right Now

This is an uncertain time for business owners.

Difficult questions like deciding whether to pause operations, continue a lease, apply for a loan, or lay off employees, are on the minds of business owners across the country. Many are confused about their tax obligations in the face of new legislation. Most are worried about maintaining proper security and managing communications effectively with a larger percentage of their employees working remotely. Some are concerned about how they will repair the brand damage that is occurring as a result of not being able to fulfill their brand promise to their customers.

Frequently shifting state and local regulations have left the waters murky for many businesses, especially in highly seasonal industries. Some business owners may be wrestling with the question of whether their businesses will be able to reopen at all after the shelter in place orders and social distancing recommendations have been lifted.

Topics: Change Management Transition Strategy COVID-19

Where to Get CARES Act Resources

The recently signed Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") contains over 800 pages of legislation to provide financial relief during this time of crisis. The bill provides emergency assistance and health care response for individuals, families, and businesses affected by the 2020 coronavirus pandemic.

In response to numerous requests, we are providing resources to help you understand the CARES Act. To the best of our knowledge, these resources are current, but please check with the appropriate agencies to confirm the details.

Find out what the CARES Act means for you, your family, and your business.

Topics: Economic Trends News Planning Resources