Part-Time CFO
No one needs to tell you that being a business owner is challenging. The thinking, working and worrying can be constant. Every decision is impactful. Will this affect employee retention? Will it help the business stay ahead of the competition?
Entrepreneurs and business owners of all sizes value our part-time CFO services. For these clients, we are much more than their accountant or tax consultant; we are an integral part of their team.
We have found that businesses that cannot support a full or part-time in-house accountant or bookkeeper, and those going through a CFO transition due to employee turnover, benefit most from this service.
Our team at Goering & Granatino will structure our part-time CFO services to whatever fits your business best. Through our attentive and helpful service, you will see and feel that we are in it with you every step of the way.
Here are some of the advantages you will receive by using our part-time CFO services
- More time to focus on new services, new customers and other core business issues.
- Better understanding of the financial side of your business.
- Improved decision-making capabilities from clearly seeing the hard and true numbers of your business.
- A readily available sounding board to help you with those tough business decisions and help you clarify your business plans.
- A professional who establishes strong financial controls in your business to reduce employee theft and increase profits.
- Training and managing of your accounting staff.
- Improved quality and timeliness of financial information.
- Budget preparation and monitoring.
- Profitability analysis by service or product line.
- Tax saving strategies.
- Trend analysis.
- Assistance in defining long-range plans and the quantification of goals.
- Cash management.
- Liaison with bankers, attorneys, vendors, insurance agents, etc.
- Assistance in obtaining financing from banks, including assistance with negotiations.
- Review/negotiation of insurance policies.
- Development of company accounting procedure manuals.
- Analysis of equipment purchases, expansions, etc.
- Mergers and acquisitions assistance.
- Custom designed collection policies and procedures.
Whether you need to use this outsourced CFO service for a few months or several years, we will tailor a plan that works for your business. Want us to come into your office on a regular basis? No problem. Prefer working over email? You got it. We are here to keep you on track, hold you accountable and keep you moving forward.
Our Part-Time CFO Service FAQs
CFO-Level Strategy Without the CFO-Level Overhead
What's the difference between a part-time CFO and a bookkeeper or accountant?
A bookkeeper records your transactions, while an accountant compiles and files based on that history. A part-time CFO looks ahead, using your numbers to guide decisions around cash flow, pricing, and growth. We provide the forward-looking financial strategy that a bookkeeper or accountant typically doesn’t.
How much does a part-time CFO cost?
Cost depends on how involved you need us to be, from a few hours a month to a regular seat at the leadership table. Complexity of your finances and the scope of support both play a role too. We build customized plans and quotes for every client based on your business.
How do I know if I need a part-time CFO?
If you’re making bigger decisions without clear financial visibility, or your bookkeeper or accountant can’t answer what to do next, it may be time. This service is also a common solution during a CFO transition, keeping your finances steady while you plan your next step.
Is a part-time CFO the same as a fractional CFO?
Yes. Both terms describe a senior finance professional working with your business on a scaled-back basis rather than as a full-time employee. Whichever term you use, you get strategic financial leadership without the cost of a permanent hire.
Will my part-time CFO work on-site, remotely, or both?
Whichever fits your business best. Some clients want someone in the office on a regular basis; others prefer working over email and scheduled calls. We build the engagement around what works for you.
Can a part-time CFO help us secure financing or negotiate with banks?
Yes. We act as your liaison with bankers, attorneys, vendors, and insurance agents, and help prepare what lenders want to see. We can also assist with negotiations to help you get better terms.
How long do part-time CFO engagements typically last?
It depends on your situation. Some clients use this service for a few months during a transition; others keep it going for years as an ongoing part of their team. We tailor the length of the engagement to your needs.
What happens if we lose our CFO or finance leader unexpectedly?
A sudden departure can stall your reporting and leave your accounting team without direction. A part-time CFO can step in quickly to stabilize things and manage your staff while you plan a longer-term solution.