There has been a recent hiring spike among start-ups seeking CFOs. The spike has been attributed to more start-ups getting funding from venture capital firms, prompting them to seek the services of a senior executive that can meet their complex financial needs.
Quadrant Advisory provides both start-ups and larger enterprises with expert consulting CFO services. We understand how essential CFOs are to a growing business, with their experience in managing financial processes necessary to make wise operational decisions.
What CFO Consulting Services Bring to the Table
An entrepreneur or startup owner might think that they don’t need a CFO, as they can track their cash flow and handle their financial planning on their own. However, as a company grows, these and other tasks, such as ensuring regulatory compliance, implementing process changes, forecasting, and performing cost-benefit analyses, become more difficult and time-consuming.
Also, as a business grows, so does the impact of every financial decision it makes.
These are just some reasons why CFO consulting services benefit small and medium-sized enterprises and start-ups.
Make informed company decisions more quickly
When companies need financial forecasts, face market expansion concerns, and other significant steps, they need the services of a CFO to help guide their decisions. Doing so helps ensure that each decision is a move toward positive results.
Furthermore, finding and hiring a CFO can be a protracted endeavor. Any company would find it challenging to find a CFO with the skills, knowledge, and availability at short notice. But through a business management and consulting firm, your company gets someone with the experience needed to help you make major decisions efficiently.
Immediate access to financial reporting and risk management
CFOs are responsible for protecting the assets of a company and managing its financial risk. By outsourcing your CFO needs to a consulting firm, your company immediately gets the help it needs.
The consultant can create a comprehensive financial report that determines your debt, equity, and internal financing. They can also draw a long-term strategy that outlines your business’s expansion path.
Hiring an in-house CFO can be a significant investment in itself. Since the role is for an executive, it requires long days of sourcing, screening, and careful deliberation of candidates. It also involves a considerable amount of capital for salaries and employment-related packages.
Outsourcing your CFO through a consulting firm is much more cost-effective, as there won’t be any recruitment fees, salaries, severance payments, and other issues. You get access to highly experienced and knowledgeable CFOs and obtain their services for a fraction of the time and cost of a permanent hire.
A consultant CFO is hired because of their skills, experience, and ability to help a business achieve success. You don’t need to worry about culture fit and if they can get along with the entire office. Their focus is on their responsibilities and how they can support your organization’s growth and profitability.
Reliable CFO Consulting for Your Organization
Outsourcing CFO services should be done with care. Ensure that you choose a firm with a positive track record of helping companies meet their financial goals. Look for one that can give you a comprehensive breakdown of what their specialists can do for you and how they handle the financial reporting of your company.
Quadrant Advisory believes in transparency and accuracy regarding our outsourced CFOs’ performance. We will provide your company with bespoke financial management services that consider your unique needs. Schedule a consultation with us today, or learn more about our team here.