At some point all business need help with their finance and accounting, but not all businesses need a full-time resource and all the hidden extras that come along with an employee, e.g. benefits, overhead, time lost in meetings, etc.
Working with a fractional CFO is a good idea for several reasons:
The Right Sized Resource: You get exactly how much or how little help you need, and the ability to scale up or down as needed. Plus, you needn’t worry about time lost on overhead or the cost of retirement or medical benefits.
Stability: Fractional CFOs are looking for long term relationships and won’t jump ship if they get a better offer from another company, like a typical employee might.
More Free Time: A virtual CFO takes care of the behind the scenes work, so you can spend time working with clients and growing your business.
Better Cash Flow, Higher Profits: The best CFOs know how to make your business stronger, which will mean a better balance in your bank account.
Multiple Industry Wisdom: Virtual CFOs have experience across many different industries and can borrow brilliance from anywhere.
Access to a Rich Network: Your virtual CFO has a large and diverse network to ensure you get the best service from your bank, payroll company, benefits provider, tax or accounting firm, or any other key vendor.
Strategy: Today’s virtual CFOs know far more than just finance and accounting. They what it takes to run a successful business and are your trusted partners.
Level Resources: You aren’t tied to a full-time resource. Rather, you have the flexibility to use your outsourced CFO as much or as little as you want.