One in Three U.S. CFOs Turn to Proformative For Real-Time Financial and Regulatory Advice

SAN JOSE, Calif., Oct. 11, 2011 /PRNewswire/ -- Proformative, the fastest-growing network for corporate finance professionals, today announced that more than 40,000 chief financial officers are now engaged on its site. The growth comes amidst rising demand for contemporaneous news, information and advice on operational challenges and regulatory and compliance standards such as Dodd-Frank, Sarbanes-Oxley, and IFRS. An estimated 150,000(1) executives hold the title "CFO" at U.S.-based public and private companies.

"More than $6 billion is spent per year on technology and counsel to meet government finance regulations and standards, yet many finance executives are still frustrated by the lack of answers to basic problems," said John Kogan, CEO of Proformative. "This demand for fresh perspectives and expert advice on both regulatory and operational problems is driving nearly one in three U.S. CFOs to Proformative."

Launched in 2009, Proformative is the only social network for corporate finance professionals that provides real-time access to tens of thousands of senior financial experts. Corporate finance executives from companies like Citibank, Coca-Cola, Apple and General Electric Co. use the Proformative network for daily advice, counsel, news and information.

The CFOs, executives, and corporate finance experts on Proformative provide real-time advice across a wide range of regulatory and operational topics. Issues include corporate governance, M&A, risk management, IPOs, accounting concepts, standards and practice, treasury policy, tech risk and security and operations and more.  

"Proformative is the most powerful network of finance executives in the world," said Glenn Robertson, senior vice president of internal audit for Wyndham Worldwide. "Where else can you find thousands of finance experts and thought leaders participating in discussions about the stuff that keeps CFOs up at night? There's no alternative for Proformative – I couldn't get the same value from a thousand paid consultants."

Recently, Proformative launched enhancements to its entire network including:

• Proformative Peer Community: peer-to-peer forum for wide-ranging discussions amongst Proformative's community members
• Proformative Ask The Experts: open forum for posting questions and getting answers from subject matter experts
• Proformative B2B Directory: industry's richest directory of finance product and service providers
• Proformative Career Center: a career resource for corporate finance professionals seeking new opportunities or looking to hire talent
• Proformative News and Bloggers: daily doses of finance news, articles and expert blogs from network contributors
• Proformative Expert Webinar Series: monthly live and interactive webinars on hot finance topics like SOX compliance, 2012 budgets, and Cloud Computing for finance
• Proformative Network Newsletter: weekly newsletter highlighting the news, blogs, and hot topics being discussed across the network

About Proformative

Proformative connects the world's corporate finance leaders to provide instant advice and insights on the tough financial and strategic challenges they face everyday. Proformative is the first social network specifically designed to help corporate finance professionals be successful in their jobs and careers. Proformative is used by more than 40,000 CFOs and has more than 400,000 corporate finance and business professionals in its fast growing network. Proformative is headquartered in Silicon Valley and funded by Floodgate, Bullpen Capital, and Inspiration Ventures.

(1) KB Resources Group, a boutique consulting and analytics firm, has reviewed many sources of information to aggregate a standing count of U.S. based public and private companies CFOs annually. For more information on KB Resources Group please visit www.kbresourcesgroup.com.

SOURCE Proformative