What does GFBS mean in FINANCE

GFBS provides a range of specialized financial functions or services such as providing financial advice, preparing budgets, conducting investments or financial analysis, or setting up accounting systems. It can also provide support functions related to taxation and other finance-related topics.

If your organization struggles with budgeting and forecasting, identifying areas for cost savings, managing cash flow and working capital management, evaluating investments or complying with regulatory requirements then it might need the help of GFBS specialists.

There is always some level of risk whenever dealing with finances but that isn't necessarily exclusive to using GFBS. By engaging experienced professionals and making sure your chosen service provider meets all relevant regulatory requirements you should be able to minimize any risks you take on when utilizing their services.

Yes, you can manage the cost however you will have to weigh up the cost against the benefit that could be achieved from using their specialist skillsets. You may even use a third-party vendor rather than an internal resource which can offer cost savings in certain circumstances.

Yes, while GFSB provides many of the same services as consulting firms they are usually only hired internally within an organization rather than externally like most consulting firms are hired.