Having worked with companies and organisations ranging from the hundreds of thousands to the hundreds of millions and occupying the CFO role in many of them either as an in-house or outsourced resource we are committed to supplying this service as we believe all companies benefit from having this rigour within their organisation. Traditionally however it has been the preserve of larger companies with SMEs struggling to see the benefit and also put off by the costs involved.
As a service we are trying to tailor this to all companies and therefore provide this service on both an executive and non executive level, this should allow any organisation to affordably use this resource, subsequently this should lead to significant impact on the bottom line.
Top 10 Benefits of outsourced CFO
There are numerous benefits to employing the help of an outsourced CFO. Here we share our top 10 reasons you should consider using an outsourced CFO service;
1. Financial savings
Obviously with an in-house CFO the company also has the usual employee benefits to pay such as taxes, and work-related resources.
If you’re a small business (or medium-sized business), hiring an in-house CFO can put a financial strain on your organization. By outsourcing your CFO, you’re able to make savings.
This adds up to significant savings without a sacrifice in the quality of work regarding your company’s financials.
2. Saves Time
An outsourced CFO comes on board handle only their financial data or focus on a specific project. This allows them to step away from other projects and tasks an in-house CFO gets pulled into
3. An independent viewpoint
Consultants are valuable in most areas of business because they bring an experienced yet fresh viewpoint to bear on a company’s difficulties and struggles to help solve problems that your in-house staff may be too close to see solutions.
4. Financial advice
When you don’t know how to increase profitability or secure your company’s financial condition, you need advice from a financial expert. An outsource CFO can provide the guidance and advice you seek.
Outsourced CFO consultants can review your company’s balance sheet will help you find ways to bring your accounts payable up to date and to free up cash. How you use that cash is up to you and your shareholders.
6. Streamline accounting systems
An outsource CFO consultant can objectively and quickly review your processes and help you streamline your processes to achieve cost savings through smarter work practices
7. Financial analysis and consulting
Outsourced CFO services provide up to date, high-level financial analysis of your cost and profits to help you plan strategies to deal with the financial problems or concerns you face.
8. Help with Large Projects
An outsourced CFO has a wealth of experience and knowledge at their fingertips. They can be brought in with the specific skills required and at the right time.
9. Preparation of financial information
When you need financial documents to show any potential investors or regulatory bodied an outsourced CFO service can expertly prepare financial information
10. Day to day business operations
Outsourced CFO services include both day-to-day business operations, as well as long-term financial planning to ensure your company is set up for a profitable future. Outsourced or virtual CFO’s can help with the following:
- Paying your bills
- Processing your payroll
- Handling financial paperwork
- Cash flow forecasting
- Profitability analysis
- Accounting system design and implementation
Need some advice or help with deciding how you can utilise our CFO services? Please contact us on firstname.lastname@example.org