Service Option 1
Integrated, Ongoing, Fractional CFO Service
You and your small to medium-sized business will benefit from having a CFO in your corner. However, given your business's size, a full-time CFO doesn't make sense. We can come together to discuss your business and create a custom part-time plan where we can help you on a fixed weekly or monthly schedule.
Our relationship starts by addressing your pressing needs first and then moving on to other valuable steps that will help your business scale and thrive. Our primary objective is to help your business grow and become more profitable. At the same time, we relieve stress and improve operations by helping you manage the overall finance and accounting functions of your business. We're available to help answer all your questions and we can support you with hands on service and attention.
Read more about how a Fractional CFO can help you and your business below.
Contact Us to find out more.
Financial projections for raising capital or for business scaling and growth.
In-depth financial analysis, ie, pricing decisions, cost analysis, and profitability assessments.
Budgeting and cash flow models.
Financial oversight and management of your accounting / bookkeeping functions.
Assessing and improving financial controls and processes.
Help looking for financial process efficiencies and implementing new accounting technology and apps.
Month end reporting, including Key Performance Indicator (KPI) assessments.
Business strategy , financial planning and trend analysis.
Assisting with bank financing or grant applications.
Helping you manage your existing accounting firm to ensure year end taxes and reporting are done properly and efficiently.
Assistance in year end financial statement or working paper preparation for your audit/accounting firm.
Mentorship and corporate leadership.
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8 Key Ways a Fractional CFO
(Part Time CFO) Can Help Your Business
Help Steering the Ship
Having a fractional CFO as a trusted business advisor to complement your skills and management team can help steer you and your team into sound strategies and decisions that minimize risk and improve outcomes. According to Fundera, 50% of all new small businesses fail in the first 5 years and 70% fail within 10 years. A fractional CFO helping you and your team on a part time basis can improve your businesses chance of success. In addition, a fractional CFO can help reduce stress and also be useful in pointing out things that you and your team may not be aware of.
Helping Tell the Story Through Numbers
Financial projections and modelling are critical to businesses both new and old. Where has your business been, but more importantly where is it going based on your strategy? A fractional CFO can help tell your story through projections 2 to 5 years out at an expert level. A fractional CFO's projections will be supported through reasonable assumptions and will also encompass thoughts and experiences from the entire management team. A good financial projection and model is also updated routinely and actual results are compared against it as a budget.
Improved Cash Management
A fractional CFO can greatly improve your businesses cash management. This is especially true if your business is small or new and lacks key accounting department staff such as a controller. CFO's typically have vast experience working with businesses in a variety of industries so they can help implement and manage best practices and tools regarding cash management. A good fractional CFO, among other things, will ensure that a smart spending policy is adopted, accounts receivable is collected efficiently, and cash needs for the business are known in advance.
Shaking Up Group Think and A Trusted Sounding Board
Group think is when you have executive or management teams that have been working together for a while and ideas and strategic thinking are starting to be formed collectively. Group think begins to affect critical thinking and individual responsibility in a negative way. Group think can also limit strategic planning and risk management. A fractional CFO can help break up group think by injecting new ideas and questioning strategic direction. In addition, a fractional CFO can be a very useful sounding board for all things business and strategy and often become the CEO or owners most trusted advisor.
Improving Your Accounting Department and Function
Your finance department should be accurately measuring, understanding, and improving your businesses capital flows. Unfortunately, a lot of finance departments don't go further than accurately measuring capital flows, and some don't even do that. In other words, they don't help business owners or management teams understand and most importantly improve capital flows. A fractional CFO can help proactively improve finances through insightful recommendations, trend analysis and action plans.
Improved Processes, Controls and Risk Management
In fast paced organizations or in challenging times, often risk management, processes, controls, compliance, regulatory, or legal matters get left to be dealt with later or are ignored altogether. A fractional CFO can help catch the things that shouldn't be skipped or left for another day because the consequences could be dire. In a addition, a fractional CFO will ensure the business has appropriate accounting processes and controls suitable to its stage, complexity and needs.
Increased Credibility and Sophistication for Raising Capital or Financing
CFO's are highly educated and experienced financial professionals. When raising capital or securing financing, they can help you tremendously with the process, however, their presence alone can also increase the potential for success. This is because potential investors and financers can feel more comfortable when they know a CFO has helped you out as a trusted advisor along the way. In addition, capital or financing success can be bolstered when financial projections and funding applications are more professionally laid out with the help of an expert.
Improved Strategy, Business Performance and Growth
In its simplest form, a fractional CFO, or part time CFO will help you better manage and grow your business while increasing profits. Having a financial expert on your team will help you develop and maintain better strategy and will improve your business performance and management. A good fractional CFO will accomplish this through all sorts of tools such as key performance indicators, budgeting, financial analysis, using technology, and good communication.