Global Partnership To Scale Companies Announced

Cape Town, 22 August 2022. Entrepreneur Organization (EO), a global peer-to-peer network exclusively for entrepreneurs, has announced a new partnership with Outsourced CFO (OCFO) to enable more South African entrepreneurs to successfully scale up their companies to drive economic growth and social impact.

OCFO uses expert CFO services, Cloud Accounting, and Automation software to help scaling companies build world-class finance functions that can support the growth of their business.

Louw Barnardt, Co-Founder and Managing Director of OCFO, says the partnership highlights a global trend wherein entrepreneurs are starting to recognise the power and importance of leveraging cloud technology and business automation to successfully scale their businesses. “Entrepreneurs are waking up to the megatrend of outsourcing and this really applies to the accounting and financial advisory function in the company. Therefore more and more entrepreneurs are outsourcing their CFO and book keeping / accounting functions to rapidly scale their companies.”

Barnardt says OCFO has a long standing relationship with EO, which started when OCFO joined the EO’s first Global Accelerator Programme, launched in Cape Town in 2017. This programme provides support to companies with an annual turnover of over US$250 000 as they grow to meet the requirement of generating US$1 million in annual turnover to become an EO member. Barnardt says this programme has been invaluable on OCFO’s own growth journey and the two organizations are well-aligned. “EO supports scaling entrepreneurs as a network and OCFO supports the growth and finance function of the same kind of entrepreneurs: ambitious, multi-founders who are building businesses that employ dozens of people. Our team knows that working with them is where we can add maximum value and can help to unlock the greatest number of new opportunities.”

Ryan Wintle, EO Cape Town Strategic Alliances Chair, says their long standing relationship also means that OCFO and EO subscribe to the same principles, making the partnership an easy decision. “OCFO embraces technology in an industry that has been slow to adopt tech. They bring innovative solutions that not only manage risk and financial reporting but also save time and costs within your business.”

EO has over 250 members in South Africa and Barnardt says the power and reach of this network in the South African business landscape are substantial. “This group of entrepreneurs are really in charge of a large portion of the economy and are doing great things to drive economic growth, create much-needed job opportunities, and realise social impact. OCFO looks forward to helping them to make an even greater contribution to South Africa’s economic future.”

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