Hiring A Fractional CFO Will Boost Your Company’s Success
Added on June 10, 2018
Successful companies have significant financial requirements that include but are not limited to business planning, cash flow management, financial reporting, analysis, lending requirements, and fiscal administration. An experienced financial expert should manage these responsibilities; however, you may not need to employ a full time chief financial officer. Hiring a fractional CFO is a significantly less expensive investment for up and coming companies. You will not need to pay a full-time salary, provide costly health care insurance, negotiate stock options, or offer the other perks and benefits that most in-house CFOs expect these days. The fractional CFO model is perfect for organizations that have limited budgets. It is also an equitable way to allocate additional funds to departments that generate revenue such as advertising, marketing, and sales. A fractional CFO can certainly be a strategic option to growing the business. The following information will provide you with more reasons why hiring a fractional CFO will boost your company’s success.
Hiring A Fractional CFO Will Save You Time
As the leader of your company, you do not have the time to complete the daily financial tasks that the business requires. Accounting and booking can encompass multiple hours each and every day. You are better served spending that time running your organizations and focusing on the big picture. An experienced fractional CFO will provide you with the peace of mind that an expert is handling your company’s finances so that you can do what you do best.
Hiring A Fractional CFO Will Save You Money
Sometimes the bottom line is your bottom line. Hiring a full time CFO is an expensive proposition; they certainly do not come cheap. In fact, a full time CFO may be one of your highest paid employees between their salary, bonus structure, and benefits package. In addition, you will need to spend a significant amount of time searching for candidates that are the perfect fit. There are no guarantees that they will blend into your business culture or stick around for the long term. A fractional CFO has the ability to perform all of the functions required of a CFO at a growing company at a lower cost. Experienced outsourced CFO’s know how to blend right in to any company culture and become trusted advisors very quickly in a variety of industries.
Hiring A Fractional CFO Will Present Your Business With A Fresh Point Of View
Many businesses follow the same financial practices year after year. They are either unaware of the newest and most effective processes or are simply too set in their ways to make changes. An outsourced fractional CFO will bring a tremendous amount of knowledge to the table. They are typically trained and experienced in the latest financial technology and methodology. A fractional CFO will apply those incredibly important aspects to your company. In addition, a fractional CFO has the ability to view your business with a fresh set of eyes. This will go a long way in reorganizing your overall financial strategy. It will also put your team members and your business on the best path to success.
Navera Group is the interim CFO expert to the middle market and also provides fractional CFO services to growing companies when appropriate. We have helped numerous clients over the past twenty plus years. Our team of experts will work hand in hand with your leadership team to ensure the best overall outcome for your company. If you have any questions or would like more general information about our array of services, please contact us today. Phone: 617-356-7516; Email: Info@Naveragroup.com; Website: www.NaveraGroup.com