Part-Time CFO Services
A Chief Financial Officer (CFO) is an irreplaceable asset to a successful business. They provide controllership and treasury duties to ensure the business has accurate records and limited risk, as well as forecasting future financials so that a business can grow accordingly.
Undeniably, many growing businesses could benefit from professional advice beyond the means of their accounting team, but maybe don’t necessarily need to have a full-time CFO on staff or may not want to spend the money on such a large overhead cost. As beneficial as they are to a business, carrying the salary of a CFO can be quite burdensome for small businesses trying to maximize profits.
A full-time CFO can cost upwards of $100,000 or more per year, not including taxes, bonuses, and benefits. Part-time CFO services from Briscoe, Burke & Grigsby LLP allow businesses to access the knowledge and experience of having a financial manager to guide their business down a path of further growth. Our team provides support and seasoned services that act as an extension of your existing team, all at a fraction of a full-time CFO cost.
How Can a Part-Time CFO Benefit Your Business?
Hiring a part-time CFO allows small business owners to place their trust in an experienced professional, so they can focus their attention on the core issues their business faces and put all their time and energy back into the business.
Most notably, a Chief Financial Officer allows for fewer monetary surprises and better reporting on the financial status of a company. It also results in having a clearer view of the numbers driving your business, allowing you to make more informed decisions that lead to further growth.
In addition to the improved financial controls, CFO services allow for an objective third-party to protect and manage the financial side of your business, placing your best interests at the forefront. This enables business owners to stress less about employee theft or embezzlement, as a licensed and insured team is overseeing all monetary activities.
As a business is growing, one of the primary goals is to achieve continued growth and having an outsourced CFO can help with that endeavor. Chief financial officers assist with long-range financial plans, required financial reporting, and analysis of financial viability. CFOs can also assist with valuations for expansion, mergers, and acquisitions, and finance negotiations with lenders.
If your business is in a growth stage and you’re weighing the benefits of having an outsourced CFO, Briscoe, Burke & Grigsby LLP would love to help with this endeavor. Contact our team today to learn about how we can help your business flourish.