Your small but growing company is ready for the next level: you’ve built a strong customer base and you are diversifying your markets and revenue sources. Now it’s time to upgrade your accounting and finance know-how.
Your first reaction may be to transition from part-time bookkeeping help to a full-time controller. Or, you may decide to retain the bookkeeper in a full-time role to cover the higher volume of accounting work. This approach, however, only increases capacity. It doesn’t add sophistication or enhance your accounting capabilities.
Your best bet may be an outsourced chief finance officer (CFO):
- You gain expertise earlier in the life of your business. By purchasing fractional CFO services, you gain access to a seasoned CFO expert in the early days of your business.
- You avoid building a team that is oversized or poorly configured. Rather than putting constraints on your budget and flexibility by hiring an accounting manager and laying off the bookkeeper, don’t risk damaging your company culture and employee morale by letting go of lower-level positions.
- You can see the addition of an outsourced CFA as strategic, rather than delaying the hiring of a CFO because it seems like a luxury. You get someone to help you make better decisions, avoid mistakes and overcome challenges today.
- You can let an outsourced CFO help you see beyond the compliance function and leverage a strategic management tool.
- You will be able to migrate accounting systems and strategies. Are you preparing to apply for bank financing? Your outsourced CFO can advise you on negotiating or evaluating offers, running multiple what-if scenarios to give you the hard data so you can make the right decision.
An outsourced CFO solution may be exactly what you need to clarify your financial situation. Give us a call and we’ll review the details and explain how an outsourced CFO can help your company.