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The Role of CFO

CFO services provide your business with help in many different areas such as capital allocation, budgeting, forecasting, and cash flow management. Ask a realtor what makes easy work of selling a property and they’ll say, “location, location, location.” Ask a Chief Financial Officer how to scale a business and they’ll say, “strategy, strategy, strategy.” It is a CFO’s job to form financial strategies that align with your business goals and overall vision. To help scale your business, a CFO must be proficient in considering risk, assessing your business’s strengths and weaknesses, and navigating the current financial climate.

It’s hard to sustainably grow your business without clean financials and a strategic plan. The right CFO can help you determine short and long-term goals, strategize how to achieve them, and tie business financials into the plan.

Is My Business Ready for a CFO?

At one time, a CFO was likely considered a full-time, executive position but, more and more, small businesses are learning the benefits of outsourcing this strategic role to help navigate turbulent financial times.

Forbes magazine notes that most businesses will, at some point, need the services of a CFO. In the article Do CFOs Add Value To Business?, this head financial position is often engaged when a business is experiencing rapid growth or expansion. Additional reasons to enlist the expertise of a CFO could be when a company’s annual revenue reaches the 7-figure mark, pivotal financial decisions lie ahead, or when an opportunity to bring on investors presents itself.

Entrepreneurs typically face time limitations that make it difficult to pour over financial data and other analytics. If you are looking for guidance on your next move but don’t want the expense of staffing a full-time CFO, you might consider outsourcing the position and/or searching for a Fractional (part-time) CFO.

Entrepreneurs can hire Fractional CFOs on a contractual basis to work on a specific, challenging area of the business. Once that project is complete, the business owner is free to decide if the services should continue, expand, or transition to other projects.

Ciaccia CPA – CFO Services

Ciaccia CPA offers outsourced CFO services. We work collaboratively with our clients to improve profitability and growth. In addition to creating policies and procedures, we oversee accounting and finance functions, provide employee training, and act as a liaison to external relationships. We aim to increase cash flow so you can retain more profit and work more efficiently.

Most entrepreneurs start a business because it is what they love to do. Our goal in offering CFO services is to enable you to do more of what you enjoy in your business while we do what we love – creating financial strategic plans and monitoring your growth. Our team provides affordable executive-level financial leadership for small to mid-sized companies or organizations. We find it rewarding to see our strategies in action as you successfully scale.