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 realize social impact. OCFO looks forward to helping them to make an even greater contribution to South Africa’s economic future.”

About OFCO
Founded in 2013, Outsourced CFO is an award-winning CFO Services, Cloud Accounting and Automation company. We serve rapidly growing organizations, helping them to realize the impact of their vision. Our team consists of sixty plus innovative finance professionals and has served over 900 companies in 21 countries around the world. Drawing from deep technical and professional wells of expertise, we help founder and management teams build world-class finance functions to support their growth. For more information about Outsourced CFO, visit www.ocfo.com

About Entrepreneurs’ Organization (EO)
The Entrepreneurs’ Organization (EO) is a high-quality support network of 16,000+ like-minded leaders across more than 60 countries. EO helps entrepreneurs achieve their full potential through the power of life-enhancing connections, shared experiences, and collaborative learning. EO has been helping entrepreneurs achieve transformational growth since 1987 and its member network is committed to learning and helping each other succeed. For more information or to get involved, visit www.eonetwork.org

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