Larger businesses have a Chief Financial Officer (CFO) on staff. But what can small and medium sized businesses do in this regard?
Clearly, larger businesses can afford an in-house CFO. But it goes beyond an affordability issue: Large, successful businesses also understand how crucial the CFO role is to their business performance.
The CFO in a business:
This is management input that all businesses require regardless of their size. But how can small and medium sized business access CFO-level input and guidance?
The answer: You out-source it. You get a part-time, out-sourced CFO until you can afford one full-time.
That’s where we play a role for many of our business clients.
Our ‘Your CFO’ service has been developed with input from our clients to make sure it’s the ideal mix of support services and affordability.
As your CFO we roll our sleeves up and work with you in management meetings throughout the year on:
As business owners we all need to measure and monitor Key Performance Indicators (KPIs). That is, the handful of numbers that really matter in running our business.
It is also important that you have a ‘KPI dashboard’ to display your KPI targets compared with your current KPI performance. This helps tremendously in monitoring and managing your business’ performance and, ultimately, hitting your targets.
As your outsourced CFO, we will bring to each meeting that we conduct with you clear financial reports, easy-to-understand KPI information, as well as our commercial experience to interpret the information, make suggestions and help guide your decision making.
Items we’ll discuss each meeting include:
By helping with your forward planning for achieving the next period’s targets, and by being a sounding board for you as you strive to meet your targets, our ‘Your CFO’ service and support gives you a crystal clear focus for what needs to be done to achieve the goals of your business.
Your next step ... Get in touch with us for a no cost and no obligation meeting to discuss how we can work with you as your outsourced CFO. We’ll outline for you what’s included and what costs are involved so you can see how the service can be comfortably included in your budget.
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