Why Use an Outsourced Financial Professional?
In almost any type of business, accounting and financial situations can arise that distract the organization from its core business. Emerging and growing companies can access higher-level talent without the full-time cost. Outsourced resources can also get the company through periods of peak workflow or lack of adequate internal resources. Other situations include:
- Consolidations
- Mergers
- Reorganizations
- Bankruptcies
- IPO’s
- System or Project Implementations
- Resignation of current controller
- Search for a company’s first controller due to growth
- New ownership/employees lacking appropriate skills
- Family Medical leaves
- Vacations
- Accounting Software installation or conversion
A company, particularly one that is growing or maturing, can gain access to higher-level financial talent without the associated full-time costs by hiring a temporary Chief Financial Officer or Controller. By outsourcing CFO services, a company gains:
Time to focus on what is critical to their business
Information to run the business proactively and efficiently
Day-to-day support as a critical member of the management team
A cost-effective solution when the cost of a full-time CFO is not justified
The ability to allocate a portion of budget amounts to senior level CFO talent and the remainder of the resources for the day-to-day accounting functions
The focused efforts of a controller who is not distracted by day-to-day accounting tasks
Services Include:
- Accounting System and controls
- Banking and debt financing
- Budgeting
- Business reorganization
- Due Diligence
- Financial reporting
- Financial analysis
- Forecasting
- Mergers and acquisitions
- Product line profitability
- Profit improvement
- Risk management
- Strategic planning
- Audit preparation