A CFO is responsible for all of the internal financials including bookkeeping, accounting and coordinating taxes, budgeting and forecasting. What makes a CFO different is their focus outside of your company. A good CFO brings banking relationships to help secure funding, they bring procurement relationships to help reduce costs, they bring strategic relationships to help implement and achieve goals.
First we start with a consultation to see if we are good fit culturally.
Then we review your current financial needs and processes and being implementing best practices in your accounting department.
After you have a solid foundation for your internal accounting we review goals and create metrics to track those goals.
Lastly, we improve on those afore mentioned steps and bring in strategic partners to reduce costs, increase profit and achieve your strategic objectives.
Yes, we often work with in-house bookkeepers and accountants. Our goal as CFO is to compliment what you are doing well and improve on the financial health of your business.
A typical full time CFO can cost a company anywhere from $120,000 to $250,000 depending on the size of the business. The beauty of a fractional CFO is that you can get the expertise of a CFO without the full price tag. It is difficult to price services until we determine the complexity of the business, strategic goals and involvement. Which is why we provide free consultation to any business that is interested.