From overseeing bookkeeping and accounting tasks to presenting accurate numbers, keeping a close check on financial security, maintaining a balance between income and outcome, implementing up-to-date financial software to designing financial strategies – CFO services are wide-ranging.

To name a few, below mentioned CFO services are the most common to be included:

• Developing financial strategy & exit strategies
• Tax management & advice
• Forecasting
• Debt planning & management
• Maintaining financial structure
• Budgeting
• Corporate governance
• Technology analysis
• Auditing
• Analyzing & restructuring cash flow
• Weekly or monthly financial reporting
• Risk analysis
• Creating cost cuts
• Assisting mergers & acquisitions

The fees vary considering:

• Amount of workload
• Type of financial services you are asking for
• The complexity of tasks
• The size of the company
• Type of hiring (contract, virtual, interim, fractional, hourly, full-time)
• Staff volume to be looked after
• The seniority and experience of staff allocated

Outsourcing CFO services means hiring skilled and professional financial experts outside your organization (not in-house) for top-tier financial, bookkeeping, business, and accounting guidance. An outsourced CFO can be hired full-time, part-time, or on an interim-basis to improve profitability.

It is the best solution if you don’t have a bookkeeper or controller with enough experience to manage critical accounting tasks or identify business risks and mitigate them.

• Must know when to be perfectionist and pragmatic
• Should be quick to analyse & resolve financial issues with top-tier problem-solving skills
• Intellectual with emotional agility
• Leadership and management abilities to guide the staff and manage bookkeeping and accounting tasks
• Must have a forward-looking, strategic vision
• Strong analytical aptitude
• Ability to assess and manage risk
• High competence in cash flow management and financial accounting
• Adaptability
• A reliable individual with the real-world operations experience
• Effective communication and collaboration skills
• Familiar with technologically advanced software and tools

When the company is expanding or expecting growth, you may need to recruit a skilled CFO to manage large controller staff without any financial hurdles or issues with revenue-generating activities. If you have begun engaging in mergers or acquisitions, need someone to carry out a financial audit, or a company’s financial situation and bookkeeping management have become complex, it is time to hire a reliable and competent CFO.

Moreover, outsourcing or hiring an in-house CFO can be necessary if mistakes in financial data have been observed, a team is underperforming, and profits are suffocating. CFO will be your true business partner in growth, saving you from mistakes that can cost you money along with managing taxation. He will handle all investments professionally with strategic options.

• Analyzing cash flow and understanding the sources of cash income & expenditures.
• Maintaining the integrity of funds and financial security.
• Comprehending the company’s liabilities.
• Formulating accounting policies and audit procedures.
• Supervising the budget process.
• Looking after credit and collections, insurance, investments, and payments.
• Ensuring compliance with statutory & tax obligations.
• Profit maximization by establishing and executing programs raising capital.
• Evaluating operational metrics.
• Analyzing and recommending the organization’s shareholder relations guidelines, methods, and information programs.
• Negotiating the procurement of debt.
• Overseeing bids, contracts, or leases.
• Appropriate maintenance of financial records and reports.