When should you consider hiring a CFO for your company?

The financial well-being of your business depends on informed decisions. The Chief Financial Officer (CFO) plays an important role in this, but not every company can justify the expense of a full-time employee. In this article, we will outline why having a CFO is important and also introduce the concept of a CFO (fractional CFO) service.

Why does your company need a CFO?

While accounting is largely focused on the past, reflecting events that have already happened, the CFO's focus is on the future, being a strategic financial partner that ensures that:

Financial processes work. Creation of an internal company structure, which includes accounting, reporting, and other internal procedures, as well as creating and harmonizing them.
There is a financial strategy to achieve the set goals (budget preparation, analysis and communication to related parties).
The company's cash flows are effectively managed. This includes working capital management, investments and raising capital from external sources.

Use of the financial manager service

Hiring a full-time CFO can be a significant expense, especially for startups and growing businesses. This brings with it a significant cost base: salary, software and other benefits. Using the financial manager service offers a convenient alternative.

It is cost effective. You pay based on how much of the actual service you used (mostly hourly)
It is flexible. There is a substitute in case of illness or vacation.
It's high quality. When providing the service, we use the knowledge baggage of the entire company, which includes more than 20 years of activity and experience.

Having a strong financial manager is very important for the success of the company. CFO services offer a cost-effective and flexible option that allows you to focus on running your business. Don't let limited resources hold your company's financial management back, and contact us to take your company's financial quality to the next level.