CFO
WHAT DOES A CFO DO?
The main responsibilities of a CFO are to:
- oversee & manage the company's financial reporting
- build and maintain projections and budget
- orchestrate capital raises such as venture capital rounds
- manage negotiations for the CEO, such as leases, insurance, etc
The CFO should be helping translate the financial metrics into insight that management can use to make strategic decisions such as when to make additional hires, when to ramp up sales or marketing budgets, how potential contracts will impact unit economics, etc.
WHAT TO LOOK FOR IN AN OUTSOURCED CFO?
Get someone who can provide the right amount of attention for the foreseeable future. Fractional CFOs are in high demand, and finding someone who has enough time to dedicate to your business can be a challenge. Working with someone who doesn’t have the bandwidth to give you the attention you probably need may be a mistake. Choose a partner who will compliment your leadership and management style. For example, if you’re not a details-oriented CEO, finding a finance leader who is comfortable diving into the details may be best.
Cost-effective
As a small business, you likely don’t need a full-time CFO. Remote CFOs generally offer part-time services that will meet your needs.
Objective
An outside CFO provides a fresh and unbiased perspective on your financial situation, providing you with alternatives and options you may not have considered.
Professional
As an established remote firm, we have a diverse client base, which means you’ll have an experienced team behind you at every step.
Flexible
An off-site CFO can adjust to your needs and respond to your requests quickly and effectively when you need it
Efficient
Financial management & planning can be time-consuming & difficult, and outsourcing your financial oversight allows you to focus on growing your business.
Organized
An off-site CFO can help monitor your accounting team & tasks, provide financial oversight, help plan for the future, and assist the CEO/Owner with high-level needs such as capital raise or presentations.
Accurate
You can’t effectively manage your business without accurate information, and a CFO can provide you with the means to use your financial data effectively to help you reduce inefficient spending, increase your productivity, and prepare for growth. Outsourcing your CFO needs can be essential to growing your business, and accurate financial oversight gives you a basis to improve your cash management, monitor your financial position, and provide accurate reports to your board and investors.