A Time and Money Saver for Your Business
As a business owner, you recognize your strengths and your passion, and you set out to create an organization based on those attributes, and though you know that accounting and financial responsibilities are important, they are also not what you want to spend your time doing. That’s why outsourcing CFO services may be a perfect fit for you.
When you outsource it gives you the benefit of professionals who possess those skills, freeing you up to focus on what you love and do best, while at the same time saving you the money that you would have had to spend on a full time financial employee’s wages and benefits. Outsourcing CFO services gives you all of the quality without the cost.
Full Time Financial Skills at an Affordable Price
Outsourced CFOs (also known as virtual CFOs) provide you with all of the professional skills and knowledge that you would get from having a full time CFO on staff, without the cost. They are able to address the full need of your financial needs, regardless of the size of your business, helping you with cash flow issues, preparing documents and reports for loan applications, selecting and setting up accounting software, and even auditing various departments, all without having to pay a regular salary. The services are high value at a low fee.
Outsourcing CFO Services is Becoming Increasingly Popular
More and more companies in the United States and around the world are outsourcing their vital professional services, and the reason is simple: it provides a much better return on their investment. Technology has enabled work to be done virtually anywhere, and that includes all financial and accounting work.
Where an organization hiring a CFO to work onsite can expect to pay well over $120,000 per year in salary, plus benefits and vacation time, the same work product can be done by somebody who is not based in your office, is not working for you full time, yet is available whenever you need them and has the skills to provide you with whatever you need done. And the professionals that are providing these services are highly skilled and come from diverse backgrounds. Their exposure to a wide range of industries and business environments enhances the value that they provide, as well as the depth of their knowledge and exposure to innovative solutions.
Outsourcing allows small businesses to focus on what they do best with the full confidence that the financial aspects that often bog them down and distract them are being well taken care of. It provides access to more than one expert, which greatly expands the ability to get the answers you need to ensure that the work matches your specific situation.
And if your needs are only temporary, and tied to a single project, problem, or event, then you are freed of having to pay for a professional whose services are not always needed. Outsourcing is a great way to increase your company’s productivity and improve your bottom line. You are able to get the answers that you need when you need them and pay for exactly the financial services that you want.
Outsourcing CFO Services is For Businesses Big and Small
Whether you are a small start-up business or a large company with an existing financial staff, a virtual CFO can provide tremendous benefit. The reasons for using an outsourced CFO go well beyond avoiding having to pay a full time employee, as many companies with extensive financial departments also avail themselves of these services for the benefit of their diverse and far-reaching experience and knowledge.
Having a professional with decades of exposure to different types of organizations enhances the abilities of your existing staff, helping them to transition as your business continues to grow and your needs expand and change.
Outsourcing CFO Services Lets You Do What You Love
Your business was started based on your own knowledge, passion, innovation and expertise. In far too many cases, company owners and management end up being pulled away from their core competencies in order to take on tasks that are both unfamiliar and that they do not enjoy. This invites frustration and wastes valuable time that could be spent fulfilling your original vision.
Bringing in a virtual CFO eliminates that issue. It frees you to do the things that you want to do while at the same time giving you a competent, highly-skilled professional that you can rely on for their considerable talent and skill. Imagine ridding yourself of the burden of having to shoulder financial work as well as of paying the high salary that their expertise would command on a full time basis.
If you want to get back to doing what you love, and letting the others on your team do the same, then consider outsourcing CFO services. You will be amazed at the relief, the value, and the benefits that it brings.
Trying to do it all yourself? Call us today at (804) 446-6685 to discuss your options.