Advantages of a PT CFO:
Hiring a part time CFO for your company allows your small to mid sized company grow.
- It saves you time - you will have a designated professional in the role allowing you to focus on running the business, not managing the work.
- It saves you money - most small to mid sized companies do not need a full time bookkeeper/CFO. Outsourcing this work saves you salary and fringe costs.
- It saves you on resources - your CFO will be able to recommend an accounting and tracking software for your company.
- More experts work on your business - outsourcing your CFO role will allow the company to hire multiple people with different niches and areas of expertise to work for your company at the same time.
- It reduces your risk - having an expert handle your books and work in partnership with your accountant will keep you business on the right track.
Why do I need a CFO?
You didn't start your business or become the head of an organization because you are a financial expert. You are there to grow and succeed. The accounting, bookkeeping and financial aspects of your business are important to how you run your company, but it is time consuming and if not done properly, can lead to more headaches down the road.
Keeping track of your bookkeeping and your financial statements is time consuming and difficult to manage. But most frustrating is understanding and interpreting your financial picture from reports. CFOs are responsible for timely and accurate presentations and financial reports in order to capitalize on your growth.