Do you want to make your business more profitable? Who doesn’t, right?! Quite simply then, you need to better understand your cash flow projections. But how do you do this without a serious numbers person on your team? The best way to make your business more financially sound is to enlist the services of a CFO (Chief Financial Officer), but the great news is, you don’t have to make an expensive hire. CFO Services are specialist services that you can outsource.
What are CFO services?
The following are the typical services a CFO would perform:
- Budget Planning and Implementation
- Performance Analysis and KPI setting
- Expense Management Reporting
- Variance Analysis
- Cash Flow Management Reporting & Support
What are the benefits of using CFO services?
If you want to better understand your business and its potential for growth you need to get a better handle on your finance function. But as not everyone is a numbers person, it’s best to engage the services offered by experts. Outsourcing CFO services allows you and your staff to concentrate on the core operation of your business, doing what you do best, while enjoying the assurance that the financial aspect of your business is being managed efficiently and proactively. There are always ways to improve the effectiveness of a business and a CFO is your specialist in this area.
CFOs are considered important assets in the organisation they work for. Whether on staff, or brought in as a contractor, a CFO provides the following benefits to an organisation:
- Improved profit.
- Better cash flow control.
- Accelerated business growth.
- Strategic succession and exit plans.
- Systemised business.
- More efficient receivables management.
Who benefits from CFO services?
Businesses in the SME sector are normally not yet ready to shoulder the expense of hiring a full-time CFO. This is where outsourced CFO services come in. Your business receives the skillset of an experienced CFO, without incurring the expense of a salaried executive with benefits.
What are the results achieved by using CFO services?
With the improved profit, cash flow and business efficiency a CFO achieves for your business, you can expect that the business will grow, become more competitive and more financially advantageous for shareholders and/or owners. You can choose to continue outsourcing your CFO services or go it alone once you’re comfortable with the new procedures.