--- title: When should you consider hiring a CFO for your company? date: 2024-08-13T12:56:46Z modified: 2024-08-19T11:39:14Z permalink: "https://grow.ee/millal-kaaluda-finantsjuhi-kaasamist/" type: post status: publish excerpt: When should you consider hiring a CFO and why is outsourcing a service a smarter choice than hiring a full-time employee? wpid: 14147 featured_image: "https://grow.ee/wp-content/uploads/2024/05/Digitaalne-raamatupidamine-Grow-2.webp" timestamp: 2024-08-19T11:39:14Z tags: - CFO service - financial manager service --- ![](https://grow.ee/wp-content/uploads/2024/05/Digitaalne-raamatupidamine-Grow-2-720x403.webp) Your company's financial well-being depends on informed decisions. The CFO plays an important role in this, but not every company can justify the costs associated with full-time work. In this article, we will highlight why having a CFO is important and also introduce the concept of a fractional CFO service. ## **Why does your company need a CFO?** While accounting is largely focused on the past, reflecting events that have already occurred, the focus of the CFO is on the future, being a strategic financial partner who ensures that: - **Financial processes work**. Creating an internal structure for the company, which includes creating and aligning accounting, reporting and other internal procedures. - **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. ## **Using the services of a CFO** Hiring a full-time CFO can be a significant expense, especially for start-up and growing companies. This brings with it a significant cost base: salary, software and other benefits. **Using the services of a CFO offers a convenient alternative**. - **It's cost-effective**. You pay according to how much real service you used (mostly hourly) - **It's flexible**. There is a replacement in case of illness or vacation. - **It's high-quality**. When providing the service, we use the entire company's knowledge base, which includes over 20 years of activity and experience. Having a strong financial manager is very important for the success of a company. Financial manager services offer a cost-effective and flexible option that allows you to focus on managing your company. Don't let limited resources hold back your company's financial management and contact us to take your company's financial quality to the next level. ## Interested in financial manager services? 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