Is your organization ready for a Virtual CFO?
It is a question we hear a lot…when is the right time to hire a CFO for your organization? While the answer may vary by company, our experience is that many organizations face similar issues when it becomes time to seek additional guidance in the form of a part-time CFO.
Most small to medium sized businesses do not have the luxury of a full-time Chief Financial Officer, as the cost of hiring one can make it difficult or impossible. Hiring a part-time, virtual CFO can be a perfect solution for gaining this financial expertise at an affordable cost.
The following questions can be helpful in determining whether it is time to consider hiring an experienced professional to help with strategic growth in your organization:
Does your organization have all the information it needs to make sound business decisions? Is it timely and accurate?
Does your organization effectively and proactively plan for short-term and long-term cash flow, net income, and capital budgeting?
Does your organization have great bookkeepers, accountants, or administrative staff, but lack the financial expertise necessary to help take your business to the next level?
Can you clearly articulate your company’s strategic initiatives and business model?
Are you confident that your organization is doing everything possible from a financial/strategic perspective to be successful?
Hiring a Virtual CFO can be a major step for any small or medium sized business, especially if it is the first time the company has invested in an experienced financial professional. However, the benefits of doing so can far outweigh the costs, as a Virtual CFO can add value in the following ways:
Leading the accounting/finance function
Leading the strategic planning process
Modifying the financial reporting system to provide timely information for decision making purposes
Creating an organizational scorecard and dashboard metrics for driving strategy
Tax planning and preparation
Other services that help the organization achieve strategic growth
Contact us now to learn more about our Virtual CFO Services and how they might benefit your organization.