Fear-Free Finance
Great financial management is the lifeblood of a successful business. Understanding the fiscal pulse of your enterprise is essential for making informed strategic decisions, managing risk, and driving sustainable growth. While many entrepreneurs are adept at running their businesses, they often seek the expertise and financial acumen that a virtual Chief Financial Officer (CFO) offers.
CFOs oversee the financial health of an organization, acting as trusted advisors to the CEO and the rest of the leadership team. They ask the difficult questions, solve complex problems, and recommend decisions that drive company growth. And now the availability of a part-time CFO enables experienced professionals to provide critical financial insights to emerging and mid-sized businesses when they need it most.
Enter Alan Beaulieu, a proven corporate financial services leader with extensive experience in the oil and gas sector, not-for-profit organizations and ecommerce. He brings a road-tested understanding of financial and corporate controls, reporting, compliance, systems, and leadership. Well-versed in the cultural, business, and statutory nuances of international ventures, his role at Guildstreet is to assist emerging, small, and mid-sized businesses with financial and corporate guidance, system implementation, and to cultivate sustainable relationships with business partners and external stakeholders. In this role, he leverages his wealth of experience with industry giants and complex regulatory bodies to drive growth and success for Guildstreet’s clients.
From CPA to Controller
Alan’s first financial leadership role began in 2002 as Controller of the International Exploration Division of Encana where he oversaw financial operations in five countries across the globe, and one province in Atlantic Canada. Here he led a team of 15 within his home office headquartered in Calgary and the same number abroad, frequently travelling to Oman, Yemen, Qatar, Chad and Brazil.
In these countries, he was tasked with collaborating with the country manager who ran the day-to-day operations within each office. Hiring a lead accountant to support the country manager was a priority and sourcing local talent was his preferred strategy. “Where practical, I always looked to hire national or regional professionals who would give me an informed, honest, localized opinion. They were the people who understood the local culture and staff.”
Here he grew his experience, leading a strong accounting division, “There was a lot of people-management and cultural adaptation. Establishing strong international working relationships with external stakeholders was key. Outside of North America the energy business is very different in countries where hydrocarbon resources are controlled by national oil companies.”
Not only did he gain the ability to lead international teams and to work well with critical international partners, he also worked collaboratively with his own leadership, ensuring respective VPs were kept informed of their budgets – and most importantly – forecasts on where their costs were heading for a particular project. This experience paved the way for future roles, where he gained responsibility and a direct line to the CEO, acting as a trusted advisor to navigate financial and operational issues as they presented themselves.
This experience instilled in him a strong commitment to the importance of entrepreneurial accounting in the role of a corporate controller. He emphasizes the need for timely, accurate, and complete accounting data for every client; data that enables him to address complex accounting issues effectively.
Controller to CFO
Alan progressed to Vice President Finance in 2007, moving away from massive enterprises to focus on smaller companies, roles that allowed a more complete view and involvement in the business. His new role involved transitioning a company in Algeria from exploration to development—a phase significantly more expensive than exploration. As other key players raised capital, Alan stepped into an operational CFO position, which required a holistic understanding of the company's systems, processes, operational risks, reporting, and additional accounting functions.
Publicly traded on the TSX and on a subsidiary exchange to the London Stock Exchange, the company faced heavy regulatory scrutiny. Alan’s role as an officer of a company listed on these exchanges was to ensure compliance and maintain the strategic vision of the leadership team. This he expected; what he hadn’t expected was the amount of clarity he would provide the company on the state of its financial affairs.
“When I first joined the company, I learned they had spent millions of dollars without consistent corporate budgets or forecasts.” A big problem. He immediately flew to Algeria to get a comprehensive lay of the land and understand their current state of business. As a result, he developed their first quarterly cash flow schedules that provided that much-needed clarity.
“My belief is that reporting on the financial aspects of a company needs to involve more than just issuing financial statements for regulatory purposes. You show the organization where it is going financially, not just where it has been. You need to let leadership know what has occurred and show them where they can go. To demonstrate where the money will come from and when you will run out of it.”
Many times throughout Alan’s career he was asked to step into similar situations, providing transparency and accountability where none had existed before. In each instance, he found that cash flow reporting should be easy for everyone to understand, so that the leadership can create an effective and flexible roadmap. This roadmap then can be used to lead organizations out of dire straits and to uncover opportunities for significant returns.
“Every company, from large enterprises to small businesses needs to understand their cash flows. Money and numbers scare people, so they avoid it. That’s understandable, almost all of us have been traumatized by a math class at some point in our lives. But most business owners have responsibilities to their staff, suppliers, and customers, and seeking out professionals will help them understand their numbers.”
Through 2009 - 2014 Alan stepped into the CFO position with various companies exploring oil and gas opportunities in the Middle East and South America. Through this time, he saw companies repeat the same mistakes by employing a ‘wait and see’ attitude towards their finances.
Alan’s roles in companies of varying size and scope whose operations required global business acumen and relationship-building skills beyond the typical financial statement expertise means that he brings the gift of a broad wealth of experience to Guildstreet clients when they need financial guidance the most.
Financial Guidance With Guildstreet
“Clients often come to us in a situation where their financial records and processes are not ideal” he notes. The reason? Not investing in capable accounting support when it matters most, particularly when it comes to accurate and verifiable tax reporting.
“In order for a company to pass an audit from any tax authority they must prove their revenue and expenses are valid, otherwise there is potential for an unpleasant and expensive tax audit at some point in the future.”
Guildstreet’s priority when working with clients who are dedicated to getting their financial house in order is to ensure that the objective external sources, such as sales and bank records, match the client’s internal financial ledgers. We are all familiar with the process of reconciling a bank statement. The process of verifying sales for e-commerce businesses channels like Shopify or Amazon can be more complex, but critical in verifying revenues for tax authorities. Then the next step is to evaluate invoices and receipts to verify they are all valid business expenses.
When accounting data is clean, tax reviews are straightforward, and cash flow projections and key performance indicators are structured on a solid foundation. “Guildstreet and its owner Keren Houlgate’s focus on this high standard of quality is key to why I joined the company.”
Alan takes a 360 view of the client’s business as a whole, making recommendations on changes to systems, processes, technology, and communication channels as needed. This ensures the success of the accounting function, and provides business owners with an objective, strategic partner in driving growth and improving scalability for their venture.
While numbers and dollar amounts may be scary to some, Alan considers them a gift. “I give people the gift of time to act on things.” These things are typically the regular ebbs and flows that come with running a business. “Businesses have seasonal and operational fluctuations, there might be large upfront drains on financial resources for selling certain products, the business has to know what’s coming.”
The other gift he gives business owners is peace of mind, but it comes with a caveat. “Fear-free finance means that you ultimately trust the professionals, listen to their advice and act on it.” He feels fortunate to have worked with open-minded and agile clients in his time with Guildstreet, attributing their successful working relationships and their ability to take on the partnership wholeheartedly with his ability to identify real and actionable change. “None of us are experts in everything. I think it’s liberating at times to be able to say, ‘I don’t have an informed opinion on that, what do you think?’”
Working with a seasoned financial expert like Alan Beaulieu can make all the difference for many business owners. His background bringing clarity and accountability to international teams as CFO, highlights the critical role of financial leadership in navigating complex challenges and the benefits of seizing opportunities for growth. Alan's ability to provide fiscal acumen, scalability, and strategic insight is invaluable to his clients at Guildstreet. By providing fractional CFO services, Alan ensures that small and mid-sized businesses can also benefit from top-tier financial management. His approach helps stabilize companies in distress and equips them with the tools and knowledge to thrive.
In a world where financial acumen is a key driver of success, having a trusted advisor like Alan can transform a company's trajectory, fostering sustainable and realistic growth.
Written by Justine Beaulieu.
We’ve compiled an ebook, Seven Questions for your Small Business CFO, detailing examples of practical financial guidance that will help your business thrive. It’s free! Download our e-book, Seven Questions for your Small Business CFO by clicking here.
Do you need help making your business thrive? Contact us at info@guildstreet.ca or at 403-807-2075.
