What Does an Outsourced CFO Do?

Outsourced CFO

Owners of small or medium-sized businesses frequently encounter challenges when operating their companies efficiently and economically. Concerns about a company’s well-being often leads owners to oversee and take on too many tasks. Which in turn takes their focus away from other important aspects of the business.  Outsourcing CFO services gives business owners expert assistance and the ability to refocus on pursuing and executing the strategic vision of the company. However, many questions arise when considering hiring an outsourced CFO. What exactly does it mean to outsource CFO services? What does an outsourced CFO do? Is this right for my type of business?

Professional CFO Services

A traditional CFO (Chief Financial Officer) is responsible for managing the financial activities, risks, and planning for an entire organization. This includes analyzing the company’s financial strengths and weaknesses, following cashflow, ensuring financial reports are accurate, and suggesting plans for improvement or correction. Today, countless companies are realizing they need an experienced CFO but employing one full-time is not financially realistic.

Enlisting the help of a professional outsourced CFO can make it easier for companies to achieve their goals and resolve accounting and financial issues for a wide range of businesses.

The Wall Street Journal explains, “Outsourced CFOs have a bigger role than accountants, who mainly keep track of the company’s books. They work with business owners to manage their finance departments, connect them with business sources that can help them grow and provide financial data to help make strategic long-term or day-to-day decisions.”

Benefits of Outsourced CFO Services

  • Allows for Internal Growth
  • Alleviates Financial Constraints
  • Improves Cash Management
  • Increase Business Revenue
  • Boost Time Management
  • Creates a Plan and Implements a Financial Strategy
  • Use Cost-Saving Technologies
  • Gives Unbiased Advice
  • Financial Expertise at a Lower Costs

Consultance CFO Services

There is a reason “consult” is part of our firm’s name. Our goal is not only to provide reliable expert CFO services, but also to be your trusted business advisor.

Our CFO Services can help you with: Cash Flow Management, Business Plan Development, Performance Dashboard Analysis and Reports, Budgeting and Forecasting, Pricing Models and Profitability Analysis, Cost and Risk Management.

Consultance Accounting’s CFO services utilizes our knowledgeable professionals who will look at your business from all angles. We inspect aspects that impact your bottom line, offer practical insights and advice, and remove the burden from you at a fraction of the cost. You will have peace of mind knowing that our engaged and qualified CFOs will help you make informed business decisions based on an in-depth understanding of your financial activities and condition so that you can achieve your business goals.

What does an outsourced CFO do?