What is a Fractional CFO?
A CFO is a key position within any company, large or small. A CFO reports directly to a President, CEO, COO, and the Board of Directors. Frequently the voice of reason, a CFO can help translate passion into a realistic financial plan that maps out a profitable course for a company. The CFOs measure success for a company and perform the financial analysis that is used to improve viability.
However, it can be costly for a business to hire a CFO. It is not necessarily feasible to have a CFO for small business. However, the economy is shifting. Technology is disrupting a variety of industries and professionals. Finance and Accounting is no exception to this. Data Automation is taking over. After implementing this new technology, many businesses now realize they do not need full time bookkeepers and CFOs, but there are demands for new and different expertise to deal with the automation issues.
In many ways, a CFO is needed more at a small business than a larger corporation. When a small business makes a mistake, the consequences are often more serious to sustainability and profitability than a sizeable company with significant funds and assets.
The answer to this is a Fractional CFO. A Fractional CFO is there on an as-needed basis but can fill the vital advisor role that every business needs.
When using the services of a Fractional CFO, a small business can gain access to years of experience and knowledge that it could not afford to hire. The business will also receive this knowledge and experience for a fraction of the cost. Some of the key benefits are:
Access to understanding and experience of complicated issues and solutions that the smaller business owner could not hire directly.
A key advisor who is proactive and somebody that is motivated to help you succeed and develop your business.
Access to experience with setting up streamlined and efficient accounting systems taking full advantage of software automation and achieving the cost savings associated with a fractional CFO.
Access to a key advisor who can be utilized on projects and tasks that make a profound impact on your bottom line.
Access to an objective voice that can help set reasonable expectations for owners, partners, and boards.
A fractional CFO can provide all of this to small business owners at a fraction of the cost of an in house CFO.
Are you a small business looking to continue expanding and growing? Then a Fractional CFO could be the answer you are looking for.
To find out more, visit CFOShield.com or schedule a meeting.