Many start up companies believe CFO services are beyond their reach or they don’t realize their benefit. However, fractional CFO services make it possible to readily access this valuable expertise.

Additionally, your business doesn’t bear the cost of a full-time employee and you can scale up services as you grow. Here are just a few of the services a fractional CFO can offer.

Financial Oversight

A fractional CFO can offer the unbiased oversight a new company needs. They can review accounting practices, ensure your business meets compliance, guide you through tax planning, initiate checks and balances for financial accuracy, and eliminate wasteful spending.

Having a highly-experienced financial professional on your team can also smooth interactions with external investors, bankers, board members, and government agencies.

Strategic Planning

Your CFO can help your company create a financial roadmap. Their meaningful insights can show you where you stand now and how to reach your short, mid and long-term goals. 

They will finetune existing internal metrics, improve best practices, research external market data and trends, and help you create a financially viable strategy that aligns with your mission, vision, and values. 

Forecasting & Budgeting

Start up companies must manage their resource wisely and plan for the future too. Luckily, a fractional CFO can use your financial data to predict performance, business growth, and revenues over the coming months and years. They can also ensure your company has realistic budgets in place to tackle initiatives while managing expenses. Basically, a fractional CFO can help you attain sustainable and efficient growth.

Cash Flow Management

Every fledgling company must closely monitor how money flows in and out of their company. You must keep funds as high as possible and you certainly don’t want the coffers to run dry.

Fortunately, a fractional CFO has expertise in finance, accounting, budgeting, and forecasting. They can bring their experience and knowledge into play to ensure your company has funds on-hand at all times.

KPI Development & Monitoring

A fractional CFO can help you establish and measure industry-specific key performance indicators (KPIs) and benchmarks. 

Well-defined KPIs highlight what’s working well, what needs attention, and when you’ve attained your goals. Your CFO can also provide you with data-driven insights to steer you towards best choices.

Risk Assessment & Management

A fractional CFO can identify your business risks and eliminate or manage them through various strategies. These may include financial, operational, economic, and market challenges your company could face.

By analyzing the severity of risks and what’s acceptable, controllable, avoidable or transferable, your CFO can recommend solutions and prioritize where to spend.

Merger & Acquisition Support

Successful startup companies change and buying another company or joining forces for greater market strength isn’t unusual. However, approaching a merger or acquisition without financial expertise can be perilous. 

Fortunately, a CFO can advise your company whether to proceed with a deal or not. They can also help you capture the most value if you decide to move forward by adding metrics to ensure you meet post-deal objectives and suggesting corporate structure changes.

 

Your company can benefit from their extensive knowledge and experience of a fractional CFO to improve your financial stability, company strategy, and credibility.

If you need help in any of these areas, contact us. JB CFO offers a full-suite of services and a free consultation. Let us help you build a more resilient, profitable company.