Outsourced CFO Services
Your business is growing, your financial position is becoming more complex and/or harder to interpret. Utilizing an outsourced CFO is a cost-effective ay to bring new insight and increased profitability to your organization.
What is an Outsourced CFO?
Your business has outgrown standard bookkeeping services and requires true insight into your financial data and the factors that affect it. That said, while you may be ready to hire a full-time bookkeeper or accountant, you’re not quire ready to onboard a full-time Controller or CFO. With outsourced CFO services, we enable you to scale our involvement according to your specific needs, from transactional guidance and projects to scheduled involvement as your dedicated CFO.
How Does it Work Best for My Business?
Utilizing an outsourced CFO works best when it’s tailored for your business, but we find that most organizations fit into the following hierarchy:
Transactional
This is best suited for smaller organizations ($250,000 - $1M in Sales and 1-10 employees). This tends to mimic an ala carte menu, allowing for businesses to tackle projects that are the most urgent and important for them.
Example of transactional support projects:
Cost accounting and management
Budget preparation
Cash flow analysis and management
Interim tax planning
Stakeholder meeting participation
Controller
This level of service is tailored for small-to-medium sized organizations ($1M - $5M in Sales and 10-20 employees) and places a financial professional in your corner on a scheduled basis, often 1-2x per month to help you establish and report on not only financial statements but also key performance indicators (KPIs), budgeting and forecasting, and regular communication with key stakeholders.
Chief Financial Officer
This level of service is tailored for organizations with $5M - $50M is Sales and 20-100 employees and includes weekly meetings, budgeting and forecasting, KPI and financial reporting, regular communication with key stakeholders, more hands-on relationship management, and bandwidth for special projects that give you the insights and work-products you need to ensure financial success.
A Hollistic view
Incorporating our outsourced financial management services into your operations provides you with a bird’s eye view of the following:
Financial Reporting
To take accounting and bookkeeping services a step further, CFO advisory services take your financial reporting requirements across the finish line by tailoring them for various stakeholders, such as creditors and specific investors.
Capital Structure and the Cost of Capital
We can evaluate your capital structure and current cost of capital to identify the variables that most effect your cost of capital.
Long-term and Short-term Investment Decisions
As part of a larger cash and capital management strategy, CFO services include various tools to help you evaluate long-term and short-term investment decisions, such as whether to invest, where to “store” cash, and how to finance new projects.
Performance Evaluation
In short, performance evaluation allows us to help you convert all of your organization’s financial data into key performance indicators, or to put it more bluntly: the information that matters to you most.
Communication: Board of Directors, Creditors, Owners, Investors, Credit Rating Agencies
With a high-level view of all financial and administrative activities ongoing within your business, we’re equipped to help you communicate with the most important stakeholders in your corner, and in some cases, do the communicating for you.
Risk Management
As real-time team members, we can provide immediate insights into the most important risks you face as a business and provide suggestions for managing them.
Compliance: Tax, Legal, and Regulatory
As your outsourced finance team, we’re equipped to maintain a holistic view of the ways in which compliance items such as tax, legal, and regulatory requirements might affect your performance. We do this through real-time tax planning and functioning as a legal liaison.
Budgeting and Strategic Planning
It all begins with a plan, and with an expert financial perspective on your team, you can engage in wide-range strategic planning for the business with the budgeting required to back it up.
Cost Accounting and Cost Management
We can perform cost analysis that helps you make decisions regarding your sales prices, your purchasing costs, and how these compare to peers in the industry. In turn, you’re equipped to increase the value you add to the business via sales.