The CFO'S Perspective

Bill Palmer

Bill Palmer

Bill Palmer has experience with the finances of nonprofits from multiple perspectives. For more than six years, he has acted as the Director of Finance & Operations at a private school where he has a broad range of responsibilities. He is also the founding CFO of a non-profit focused on sustainable agriculture, food, and nutrition where he oversees the accounting staff and also advises the CEO in budgeting and long-range planning. Bill also serves as Board Treasurer for a local charity focused on children’s health issues. Previously, he helped found and served ten years on the governing board of a private school, where he built the business model, led the initial capital campaign which enabled the commencement of the school’s operations, negotiated long term loans, and set pricing policies.

Recent Posts by Bill Palmer:

How a CFO Selects and Manages Vendor Relationships Using the 3 P’s

Among a CFO’s many duties is selecting and managing the company’s key vendors. Typically, these include banks and other capital providers, investment advisors, key software vendors, insurers, benefits and retirement services brokers, HR/payroll service providers, and audit and tax experts. Other than client relationships, these are often among a company’s most important business relationships. How does a CFO look at these key business partners, and how does he decide whether and when to make a change?

Topics: Leadership Vendor Management

Overcoming Supply Chain Difficulties – a CFO’s Perspective

Rapid growth in the US economy and the lingering impact of the pandemic on global supply chains have created problems for almost every industry.

The construction industry has been impacted by shortages of certain glues used to make composite building products leading to escalating construction costs and lengthy project delays.

The automotive industry has been impacted by the well-publicized shortage of computer chips, which is caused by the shortage of chip manufacturing capacity. Underlying causes include shortages of certain critical raw materials and a very small number of chip manufacturing equipment manufacturers.

Even restaurants have been hit with shortages of food containers for to-go orders because of shortages of natural gas feedstock for container manufacturers.

Nearly every business has been beset by delays in the delivery of everyday supplies that can be traced to a shortage of workers in the transportation and distribution industries.

There aren’t enough workers to load trucks at the warehouses or drive them down the highways. If essential supplies are available, they are likely to be higher-priced and available only with extended delivery dates.

Topics: Trends Supply Chain

Responding to the Pandemic – What Should CEOs and CFOs be doing Now?

Who thought 2020 would be like this? We have made it through the lockdown, subsequent economic shock, and the scramble to put it back on track. Stimulus programs (like PPP) are done rolling out and payment deferral programs from lenders are ending soon. More tailored lockdowns are underway but with no certainty this time of any government support for impacted businesses.

You have stabilized the ship. What do you do next?

The COVID-19 impact is not going to be over soon. “Normal life” is likely at least a year away. Even if a vaccine arrives in 2021, it will likely take many months to become ubiquitous and effective.

Topics: Planning

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

Nick Anderson & Bill Palmer - The 3 P’s

Nick Anderson (Columbia Bank) recently invited Bill Palmer (CFO Selections) to be interviewed in a 4-video series. Nick and Bill had an in-depth conversation about the 3 P’s:

  1. Finding the right Partner
  2. Getting the right Products
  3. Negotiating a fair Price.

The series was shared via LinkedIn but in case you missed it, we have the four-video series wrapped up into one.

Topics: Planning CFO Selections Video

How Do I Choose the Right Bank for My Company?

For many owners of growing companies, the choice of a bank is a crucial decision.  A solid relationship with a bank can make or break a company.  Banks provide relatively cheap capital to fund expansion as well as the everyday transactional and payment services that enable everyday operations. 

A poor relationship with your bank can hinder growth plans and even put you out of business.  Still, many business owners simply stumble into doing business with a bank because of convenience or with the mistaken assumption that all banks are all the same.  A wise business owner puts effort into developing and maintaining a relationship with their bank, just like they do with key customers and suppliers, to ensure their long term success. 

Topics: Finance Resources Financing

Planning for Next Year's Raises in Today's Competitive Business Environment

How do you plan or budget raises for your employees? As you create next year's budgets and update your strategic plans, you also need to take several vital steps.

These include looking at the big picture, understanding and limiting your risk, getting help if you need it, and utilizing a financial planning tool to provide the right raises to retain and attract talent.  This may seem like a tall order, but a systematic approach will help your organization achieve its staffing and budget goals.

Topics: Planning HR Budgeting Salaries