CFO of the Month OCRA - On-Call Restaurant Accounting - Mark Rubinstein
As the name suggests, On-Call Restaurant Accounting provides accounting and business consulting services to restaurants. Mark Rubinstein, CFO of OCRA, reveals how they provide the utmost accountancy services for restaurateurs.
As CFO, I focus my efforts on the overall financial picture of the firm. The goal is not only to be profitable, but to make sure we reinvest wisely in ways to make our people more efficient and our clients more satisfied.
In order to ensure that this process is achieved, I attempt to present a clear direction. I simply demonstrate: here are our goals and here is the strategy to get there. I also solicit input from the team so that not only do we gain the benefit of different perspectives on the way to any solution, but the team also feels a part of the decision making process so there is more buy-in.
Furthermore, I’m a firm believer in learning from the lessons of the past. Throughout my experience, I have seen a lot of good and bad financial and human capital management and try to learn from those experiences. When presented with a decision or an obstacle, I take all of the information at hand and reference back to any previous experiences that could be related.
Due to the nature of our business, our mission is tied closely to financial performance as a whole since we provide accounting, bookkeeping and financial reporting services to our clients. As such, our mission is to provide accurate, timely and easy to use financial reporting to the restaurant industry so our clients can run a more successful business.
Much like any other successful business, our results come down to a team effort. The people in our firm are our most important asset, and we are service based so our staff has direct contact with each client every week which can make or break the relationship. As a result, they need to be empowered to make decisions, have the knowledge to answer any questions and the personality to make a client feel that they are important.
Alongside our client-centred approach, one of our key differentiating factors is that we are focused on a specific industry – restaurants. While many companies provide accounting, bookkeeping, payroll and financial reporting services, not many focus on the specific needs of the restaurateur.
Additionally, we strive to make our culture one that focuses on our people as an extension of our clients’ team. Furthermore, we are hands on with data entry, offering opinions about financial statements, identifying possible areas of opportunity, and genuinely caring about our customers’ businesses.
Although the emphasis in our industry is constantly try new things, I find this to be difficult as there are always new technologies that may seem ‘cool’ or ‘slick’, but a focus must be held to fiscal responsibility and the overall benefit from any change to the goals of the firm. That said, I always keep my ears and eyes open for innovations that can help our productivity, offering, or bottom line.
Looking towards the second half of 2016 and beyond, we plan to continue our growth while increasing our service offerings to our clients. Further utilising technology to increase our efficiency will enable us to serve more clients without compromising our service levels. Over the past seven years, we have averaged 40% annual growth and we look forward to the challenge of not only maintaining that growth but even more importantly doing so while maintaining the same high standards for our clients.
On-Call Restaurant Accounting
Name: Mark Rubinstein
Address: 1660 Gilpin Street;
Denver, CO 80218