Small to Mid-size Companies Gain Big Company Insight with CFO Expertise
Whether an organization is going through a growth spurt or growing pains, a part time CFO can help develop strategic financial support for a variety of organizations.
Financial leadership is often ignored by small to mid-size companies in this new business world. Yet, the experience of a high-level visionary can lead companies to unparalleled success and growth.
The CFO is just the person to provide the vision needed. And although the traditional full time CFO may be cost prohibitive for smaller organizations, there is another option—the on-call part time CFO.
Outsourcing the CFO functions to a part-time CFO provides company leadership teams with a flexible and affordable alternative—they get all the expertise needed without the expense.
There are five ways organizations benefit from outsourcing CFO functions to a part time CFO:
- Extensive Knowledge. The part time CFO is a senior manager with extensive financial management experience. Today’s part time CFO considers data, decisions and people, not just budgets and reporting.
- Management Leadership. The part time CFO partners with an organization as an advisor to management teams, executives and boards of directors with the objective of cultivating competitiveness and efficiency.
- Flexibility & Cost Effectiveness. The part time CFO has the expertise of a full time CFO executive. The key difference is that the part time CFO offers on-call full time support on a part time budget.
- Business Growth. The part time CFO is responsible for developing results-oriented strategies to lower costs, reduce risks and achieve business growth objectives.
- Funds Acquisition. Financial forecasting by a CFO is essential when organizations prepare to raise more capital. The part time CFO can also introduce CEOs to potential investors, and help manage banking and investor relations.c
It’s time to hire a part time CFO when sales have grown rapidly over a short period of time, a third party audit is required, or an organization is considering an IPO, sale, merger or acquisition.
Cash strapped companies can benefit from a part time CFO as well. When an organization has overdue receivables or is losing customers, the part time CFO can develop solutions to get back on track.
Hiring a part time CFO is an affordable and beneficial solution for non-profits, new start-ups and organizations that are restructuring or expanding. Outsourcing this important role to a skilled, experienced professional can help to ensure successful business growth.
How Can We Help?
Are you working with organizations that could benefit from part time CFO expertise? We offer a complimentary assessment to identify fresh solutions to jump start growth.
Email The CFO Connection today to learn more about how we work and how we can help.