What value does a fractional CFO bring to my organization?
When clients begin asking questions about the ROI of a fractional CFO, we often start thinking about how our experience has guided our answer to this question! Below are a handful of resources that can help!
We can’t promise clients a 2-3x increase in revenue like a marketing agency. It’s hard to calculate the ROI of hiring a CFO. What we know to be true is this:
With the right finances and strong financial statement preparation:
-Your business grows faster
-You understand your business better from a financial perspective
-You make profitable decisions
-You protect yourself against potential risks
-You take steps towards reaching your goals
There is a reason why companies invests in its finance team!
According to an article from Vinti which hires for accounting positions:
Hiring a fractional CFO can provide many benefits for startups that need high-level financial expertise but are not ready or able to hire a full-time CFO. Some of the benefits are:
Cost savings: A fractional CFO can save a company up to 80% of the cost of hiring a full-time CFO. A fractional CFO typically charges an hourly rate or a fixed monthly fee depending on the scope and duration of the project. This allows the company to pay only for the services they need, when they need them.
Flexibility: A fractional CFO can adjust their availability and involvement according to the changing needs of the company. They can work remotely or on-site, part-time or full-time, for a few months or a few years. They can also scale up or down their services as the company grows or faces new challenges.
Experience: A fractional CFO is an experienced finance leader who has worked with multiple companies in different industries and stages of growth. They bring a wealth of knowledge and best practices that can help the company avoid common pitfalls and accelerate their success. They can also leverage their network of contacts and resources to provide additional value to the company.
Objectivity: A fractional CFO is an independent contractor who is not emotionally attached to the company or its founders. They can provide unbiased and honest feedback and advice that can help the company make better decisions. They can also challenge the status quo and bring fresh perspectives and ideas that can spark innovation.
If you have any needs for a fractional CFO or have any questions about how we could help your business, please click this link https://www.irisfinancialgroup.com/get-started
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https://www.vintti.com/blog/understanding-the-value-of-fractional-cfo-services/