Every company is different, with different business goals, financial requirements, and company structures. That means there’s no standard answer when you’re wondering if your business needs a chief financial officer (CFO). With an outsourced CFO, companies of all sizes can benefit from the skills and experience of a seasoned financial professional without paying the salary of a full-time CFO. If you are trying to decide if you need the services of a CFO, consider these points:
Are you getting all the financial information you need to make decisions? It’s critical to have the information you need at the point you need it to make sound business decisions. Even companies with good accounting and bookkeeping systems don’t always have the right data available to make decisions about company mergers, capital acquisitions, structuring loans, or increasing headcount.
Is your company growing rapidly? As companies increase in size, their financial needs become more complex. Growth is good, but unmanaged growth can prove risky for young companies, particularly if they overspend or over-commit. A outsourced CFO can establish a business plan, based on your company’s financial projection model, and develop the structure your business needs to manage its growth. A CFO can help manage mergers and acquisitions, providing appropriate due diligence and interpreting the results.
Are your revenues increasing? Rapid revenue growth means that you have funds that must be monitored and managed. A CFO can help manage your company’s current financial condition, factoring in both liquidity and risk. Your CFO can help you develop a capital structure that provides the right balance of debt and equity, making sure you have the appropriate funds on hand for daily operations while not missing opportunities for investment.
If you’re wondering if your company can benefit from the services of an outsourced CFO, make an appointment to speak with a financial professional at CFO Strategic Partners by calling 407-426-8288. We’ll conduct a free business analysis and review your company’s financial structure, and help you decide if your company needs the services of a CFO to help manage your growth.
“Our organization was navigating an intense transition involving our government funding partners and public officials. Without the help of CFOSP, we would have experienced severe financial impacts and certainly lost donor confidence.”
CEO Central Florida Historical Society
“I applaud the stellar support provided by our CFO in embracing and understanding our budget priorities and operations that entail hundreds of financial transactions each month and several millions of dollars in expenditures annually. The nature of our business is very complex, yet your firm did not shy away from the challenge of establishing accounting processes and procedures that will sustain us well into the future.”
Kissimmee Chamber of Commerce, Experience Kissimmee
“…The services they have provided have tripled my bottom line, giving us serious profit levels that have helped fund company growth…”
President, Engineering Firm
“There is no limit to the value of the collective experience that the CFO team brings to the table. Their expertise in debt management, tax reporting, cost of funds, and in-depth analysis has been more than I could have hoped for…”
CEO/President, Hotel Corporation
“Since we began working with CFO Strategic Partners, we’re in the best financial position we’ve ever been in… CFO gives my staff and myself financial peace of mind so we can focus on clients and business at hand.”
CEO, Insurance Agency
“With CFO as our partner, we’re able to see the total picture…. Through their expertise, we’re receiving the highest level of educated financial planning that will propel us into the future.”
President, Florida Architectural Firm