Small- and mid-market businesses often face financial and accounting challenges that are outside their core businesses. Sudden increases in expenses, fluctuations in cash flow, lack of internal resources – these are the kinds of problems that a professional Chief Financial Officer (CFO) can help anticipate and manage. That kind of expertise comes with a price, but there’s a way that smaller companies can take advantage of that type of experience. Outsourcing your company’s CFO position can provide you with access to high-level talent without the full-time cost, providing you with:
Help with financial information. An outsourced CFO can provide small- and medium-sized business owners with the sound advice and information they need to navigate through unfamiliar financial terrain. Balance sheet analysis, financial ratios, cash flow analysis, business plans – these may be a blur to many business owners. A part-time CFO can help the company’s management make sense of these management tools. As the company grows, an outsourced CFO can help with other issues, like employee benefits, raising capital or attracting investors, or profit management.
Access to a larger organization. An outsourced CFO also provides access to a larger organization, with the right experts for specific situations. In addition to qualified accounting and bookkeeping staff, an outsourced CFO can connect a young business with tax consultants, legal experts, and other specialists who can help the company address complex financial matters. This flexibility lets the part-time CFO find the right resources to address unusual circumstances, while a company relying solely on its internal resources may not be able to respond as quickly.
Compliance with regulations. The regulatory and tax environment keeps moving and changing, and compliance is critical for any business. An outsourced CFO provides a wider perspective and broader experience, and makes sure that your regulatory, tax, and accounting compliance is up-to-date and accurate.
No single solution can fit every company, and that’s the advantage of outsourcing your CFO services. You can benefit from a range of customized and cost-effective options. To learn more about what CFO Strategic Partners can bring to your organization, contact us a 407-426-8288 for a free business analysis.
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