part-time cfo services

Hiring a part-time CFO is a great solution for small and medium-sized companies that require financial expertise but do not have either the budget or need for a full-time CFO.

The part-time CFO works on a contract basis as an independent consultant providing your business with the financial expertise needed for any given situation.

For example, your company is experiencing exciting growth and now your management team needs the guidance of a CFO to help navigate through the unfamiliar financial terrain that comes along with said growth. As a small company, your budget may not allow for a full-time CFO, but you still need a seasoned, trustworthy financial leader to further guide you on this path to success.

Or

In these tough economic times, your company may be experiencing a financial crisis, as many are, and bringing in an experienced part-time CFO may be the step it takes to recover and move past the crisis into a brighter, financially stronger future.

Small companies need strong financial management every bit as much as larger companies, however the smaller the company, the harder it is to justify the high salary and benefit package of a full-time CFO. Also, a smaller company may not have a daily need for this level of expertise. Therefore, small companies can gain valuable financial insight and organizational control by contracting with an accomplished professional on a part-time basis.

Some added benefits:

*Immediate and ongoing access to a seasoned financial professional;
*Provides independent and objective points of view to improving financial performance;
*Adds credibility to financials as seen by lenders, lawyers, CPAs and other business partners;
*Provides owner with independent sounding board for decision making process;
*Variable cost as you are only paying for the level of service needed at any given time;
*Develops meaningful financial information as a necessary tool for the business owner to assess the current and long-term success of the business.

You may ask, why a CFO and not a controller? A controller’s (or accountant/ bookkeeper’s) primary function is to document and facilitate day-to-day accounting transactions, in such ways as writing checks, reviewing weekly finances, preparing monthly financial reports and supervising the various required accounting tasks. A CFO would oversee these processes, but more importantly would serve as the intermediary between the accounting department and the executive management team. The CFO ensures one hand understands what the other is doing and why…

A part-time CFO for a small company would typically spend one to two full days per month on site (which could be broken up into multiple days) and provide unlimited telephone and e-mail support.