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.
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.