If your growing business has reached a point where professional financial advice is essential but hiring a full-time CFO or controller is not yet feasible, we have the perfect solution for you. Our fractional CFO service offers you a professional financial manager who will work closely with you to guide your business to success.
The cost of hiring a full-time CFO can range from $75,000 to over $125,000 per year, in addition to bonuses and benefits. In contrast, our part-time CFO service provides you with experienced support at a small fraction of that cost.
Here's what you can expect from our fractional CFO services:
- Gain a better understanding of the financial aspects of your business, leading to fewer surprises and greater control over your finances.
- Developing financial strategies, forecasts, and budgets to support business goals.
- Providing accurate and timely financial reports to stakeholders, management, and investors.
- Monitoring cash flow, managing working capital, and ensuring adequate liquidity.
- Identifying and mitigating financial risks that could impact the business.
- Tracking key performance indicators (KPIs) to assess business performance and identify areas for improvement.
- Ensuring compliance with financial regulations and best practices, as well as overseeing audits and internal controls.
- Collaborating with the leadership team to develop and execute strategic plans for growth and profitability.
- Benefit from the reassurance of having a professional oversee, protect, and continually enhance the financial aspects of your business.
- Training and managing your accounting staff.
- Budget preparation and monitoring.
- Conduct profitability analysis by service or product line to identify which areas of your business are most profitable and where improvements can be made.
- Perform trend analysis to identify patterns and changes over time in key financial metrics, helping to forecast future performance and make informed decisions.
- Serve as a liaison with bankers, attorneys, vendors, insurance agents, and other stakeholders to ensure smooth communication and effective management of financial relationships.
- Assistance in obtaining financing from banks by preparing financial documents, providing financial analysis, and negotiating terms to secure the best possible financing arrangements for your business.
- Development of company accounting policies and procedure manuals to establish standardized processes for financial reporting, record-keeping, and compliance.
- Analyze equipment purchases, expansions, and other capital expenditures to assess their financial impact, evaluate the return on investment, and make informed decisions about the allocation of resources.
- Design custom collection policies and procedures to streamline the accounts receivable process, improve cash flow, and reduce bad debt risk.
If you'd like to learn more about our fractional CFO services please complete this form to get a free consultation.