Outsourced CFO
The lifeblood of your company is cash. The measure of success is profit margin. Sadly, many business leaders do not know their profit margin or a good margin for the industry the company competes.
Our outsourced CFOs are equipped to help you make better decisions toward optimal growth, define your margins, maximize cash flow, double profitability, and eliminate the waste of excess tax payments in your company now.
Gain full access to the knowledge and financial expertise of an in-house Chief Financial Officer, without any of the unnecessary overhead costs.
Stop overpaying for generic solutions that aren’t meeting your needs and losing your money. Stop hiring the expensive full-time CFO or in-house solution that will not have the resources to fully maximize results as an expert for your company.
What does a fractional or outsourced CFO do?
Our expert CFOs utilize financial data compiled by our accounting and finance team to better inform and guide you with customized solutions, and establish a solid growth strategy. In turn, this will help your company to increase profitability, obtain financing, and attract investors.
We utilize our real-world experience, industry knowledge, and expertise to implement strategic solutions that address a full range of financial challenges and opportunities.
Your CFO experts. Take control of your finances with an outsourced Chief Financial Officer. Your CFO will be in charge of providing your business with strategic financial insights and guidance.
We will provide recommendations to help your business with:
- Cash flow
- Analyzing financial reporting
- Create strategies based on your finances
With a CFO, you’ll receive financial reporting that forecasts your business performance so that you can accurately increase your profits and bottom line.
Be knowledgeable of your business past, present, and future financial health backed by hard-numbers and reports that pinpoint areas to boost your business efficiency and discover room for growth.
Your CFO will be responsible for protecting and growing your Company’s bottom line and profit margin. They will be involved in your business planning, implementation, managing, and running of each area of your financial activities.
Financial analysis and strategy
Our job as your CFO is to perform regular in-depth reviews of your finances. Your outsourced CFO will always be looking for trends and processes that are inefficient, and opportunities for you to make more informed decisions for your business.
Your CFO has access to our full team of experts here at Fully Accountable, and together, we will develop a strategic framework to add value and improve the financial performance of your business. Our in-depth competitive benchmarking and analysis will evaluate your business’ current performance and sustainability. By providing a strategic focus, we are able to gain a competitive edge for your company in its industry.
You can expect:
- Strategic financial decisions for profitability
- KPI and Benchmark reporting objective metrics
- Managing a budget and forecast
- Cash flow forecasting
- Evaluate business risks and opportunities
- Financial reporting built for your business
Our CFO’s measure your company’s performance and provide unbiased feedback with real-time numbers and stats to help your business grow.
Opportunity and risk analysis
We provide an expert analysis of both your current business, and the overall industry. With that information in hand, we can identify risks and opportunities that can affect your business now, and in the future. We’ll then work with you and your team to create a plan of action to navigate around the risks, seizing every opportunity available to you.
Our CFOs identify risks in your business, such as:
- Compliance risk
- Debt risk
- Liquidity risk
- M&A risk
- Process risk
- Personnel risk
- Contract risk
- Security risk
Without a CFO managing and mitigating your business’ risk and opportunities, you can damage your business’ bottom line and overall reputation.
With our team of financial experts at Fully Accountable, you will receive carefully constructed estimates and reports that calculate the probabilities of risk, and an evaluation of how certain risks might have financial consequences.
Cash flow projections
We’ll work with you to create financial and cash flow projections that will allow you to determine your current cash flow and what is expected in the future. This type of information gives you insight into when it may be time to:
- Hire additional employees,
- Increase your marketing spend,
- Purchase additional inventory,
- Invest in new initiatives for your business
As a business owner, you should have confidence knowing that your Company’s financials are on track to hit your business’ growth and performance goals.
Reduce stress and let your CFO provide you peace of mind with careful planning, analysis, and reporting. Cash flow projections enable your business to manage all your cash outflow to ensure your business’s long-term stability.
Your CFO will take these projections and make sure that cash is available for payroll, operating costs, and more.
Strategic financial planning
We dig deep into the inner workings of your business. Together, with you and your team, we’ll work to identify factors that influence your business’ growth and overall success. Next, we’ll put together detailed financial projections to plan the future of your company strategically.
Our team of qualified CFOs are here to put the most effective financial strategy in place. We are here to ensure that your business can grow based on objective data that will lead to proper decision making.
Frequently Asked Questions
Why Hire an Outsourced CFO Over an In-House CFO?
There are six primary reasons to outsource your CFO rather than hiring an in-house accountant.
- Cost savings
- Scalability
- Access to professionals with experience in a wider range of industries
- Short-term problem solvers
- Advanced network of financial professionals
- Holistic Financial
How Do You Find the Right Outsourced CFO?
To ensure you find the right outsourced CFO, you should ask yourself the following questions:
- Do they understand the nature of your industry and your organization’s goals?
- Clearly define you outsourced CFO’s role
- Set concrete expectations
- Ask probing questions about their availability and communication structure.
What Is the Difference Between a Controller and a CFO?
The difference between a controller and a CFO is that a controller acts as the head of your accounting procedure and prepares your financial reports and statements. They might also issue compliance audits, monitor internal controls, participate in the budgeting process, and analyze financial data. At some companies, financial controllers might be involved in selecting software or technology involved in your financial infrastructure.
On the other hand, CFOs are the senior executives responsible for managing the financial strategies for a company. This position involves tracking cash flow and capital procurement. They analyze your financial structure and create operations that facilitate sustainable growth. Essentially, they act as financial consultant and treasurer.
What Is a Fractional CFO?
Fractional CFOs are experienced senior executives who have experience in a wide array of industries and who work for you on a part-time basis. Because they have experience in a wide range of industries, they can give you specialized attention particular to your business. Since they work for your business on a part-time basis, they can give you the correct hours you need to ensure you don’t overspend for your CFO budget.
What’s the difference between outsource CFO, interim CFO and Fractional CFO?
Interim CFOs typically only work for companies for anywhere from 1-3 months. These professionals overlook and manage the finances for companies during that duration. The reason for interim CFOs is to manage the company’s financial operations during the interim between one full-time CFO and the next. Fractional CFOs provide financial services on a part-time basis, when you need them most.
How much does a Fractional CFO cost?
Fractional CFOs cost less than full-time CFOs. For businesses who don’t have the financial needs of some larger companies, fractional CFOs offer them a cost reduction method, allowing them to access the CFO services they need when they need them.
How is a Fractional CFO different from my Accountant?
Accountants are typically focused on more basic financial transactions and directives than fractional CFOs. Accountants will be involved in some financial data analysis, but they won’t have control over a company’s long-term financial strategy. They also have more control over the company’s financial operations. They have tactical and strategy skills accountants simply don’t have.
Our service provides:
Systems assessment & development
Fully Accountable assesses your current business systems to ensure efficiency and accuracy. We’ll also create and implement systems not currently in place to improve overall productivity and profitability.
Things such as your:
- Financial accounting system.
- Accounts payable.
- Purchasing processes.
- Operational Process, and much more.
While your CFO is busy focusing on your finances, you will have the time and knowledge to improve your business’ functions. We will create your business’ strategy with financial modeling and analysis, performance monitoring, business dashboard maintenance, and budget analysis. As time progresses, your CFO can refine your strategy to account for your Company growth and the phase that it is in.
Business Growth
Strengthen your business’ internal controls and overall performance with Fully Accountable’ s CFO business growth solutions. We focus on all areas of your finances so you can focus on your role in your business. Your CFO will provide you with detailed analysis, reports, and keep a pulse on your finances. Rest assured, your business’ CFO is there to show you exactly what is working, and what is not currently working in your business. With our help, you can make good business decisions based on data.
We’ll create an in-depth business growth plan that will allow you the opportunity to strategically project for scale and growth. Using this plan will give you insight into knowing when to:
- Raise capital. Raise capital.
- Add staff members.
- Increase sales and marketing spend.
- Create more revenue streams, or niche down for greater profitability.
Watch your business grow with our outsourced CFO solutions.
Maximize profitability
We’ll perform an in-depth audit of your entire business operation, looking for inefficient systems, snags and bottlenecks that are costing you profits. Once we’ve identified these pitfalls, we’ll work with you to implement solutions both in the way of new processes and more productive systems.
Your CFO will add value to your business by providing:
- Historic financial statements & results.
- Real-time dashboard reporting.
- KPI monitoring.
- Annual operating budget.
- Rolling forecast.
- Cash Management.
- Entry and exit strategies.
- KPIs.
- A budget based on cash flow, overhead, inventory, and more.
Your CFO is there to help you maximize your business’s profits and performance.
Cutting costs
Your Fractional CFO is responsible to research and find ways to grow your profit margin and make expense cuts. CFOs suggest new policies and procedures that should be put in place based on an analysis of your cash outflow and your annual revenue trends.
Fully Accountable Fractional CFOs look into:
- Reducing overhead costs.
- Finding more efficient solutions.
- Looking at outsourcing opportunities.
- Looking at creating terms with vendors and additional services.
We will find financial solutions that may have been overlooked by peeling away the many layers of your finances and discover where to cut costs.
Maximize profitability
It can be both stressful and time-consuming to focus your attention into trying to raise capital. Your Fractional CFO will be there to make the process run smoothly. We will provide all of your financial statements, reports, and documents to determine what financing options will be most appropriate for your business goals.
Outsourcing your CFO is the way to go
The average salary of a Chief Financial Officer is $130,249 annually.
An Outsourced CFO with a high level of experience in finance and outsourced accounting will not only save you money, but turn your financial department into a profit center. By outsourcing your CFO, you won’t have to pay a hefty salary of an in-house employee’s expenses which includes health benefits, vacation time, sick days, etc. You want a CFO who is dedicating their time to reviewing and analyzing your company’s performance.
Our CFO comes with an entire team that manages the day-to-day of your accounting needs. Just imagine, you can spend your time on your highest and best use, and your CFO can be busy working on growing your bottom line. Outsourcing is the most cost-effective method of managing your finances.
