Fractional CFO Services
There are countless types of consultants that can help manage different aspects of your business. Some businesses utilizing consultants don’t have the amount of work to keep a person with this knowledge busy on a regular basis, and some simply prefer the ease of working with an unbiased third party that doesn’t need a W-2 and benefits. They can work with you on a regular basis, or even on a special project that needs extra hands and more expertise. HR, safety, and non-profit consultants are the ones we hear about most often, but did you know CFO services are also offered in the same, as-needed capacity?
As SuretyHR’s portfolio of services continues to expand, we’re now offering Fractional CFO services to our PEO clients.
What does a fractional CFO do?
A fractional CFO is essentially a part-time CFO. They can come in at scheduled times, or only as needed. They provide organizations a wealth of knowledge and expertise in the area of finance, without the need for a full-time C-suite employee. A fractional CFO can help build the roadmap that will help your business grow and prosper, at any stage.
What kind of services do fractional CFOs provide?
Every employer has different financial needs. We like to start by sitting down with our clients and talk about where they are, what they need, and where they’d like to go. Once we have a game plan, our services may include:
- Optimization strategy
- Budget & Forecasting
- System implementation
- Strategic planning
- Fine-tuning of financial processes
- Raising Capital
- Navigating audits and other large-scale transactions
- Risk assessments
- Policy & process review
- Cash flow projections
- M&A due diligence
What kind of companies do Fractional CFOs work with?
Any size and any industry, regardless of years in business. Fractional CFO services are most often peddled to start-ups and companies still in growth mode. While these services may be ideal for a new business, they’re still very beneficial for long-standing organizations that may need a temporary CFO until a role is back-filled, a special project, or even to supplement an existing CFO.
What are the advantages of hiring a fractional CFO?
Reduced business costs, flexibility, and a wide knowledge base are the biggest advantages of working with a fractional CFO.