An Outsourced CFO is less expensive than the salary of an in-house CFO with similar experience. Where an in-house CFO will be a full-time salaried employee, an Outsourced CFO pricing will be based only on the amount of time/deliverable your organization needs.
You’re probably aware of the general expectation that new employees will typically take 6-12 months to get up to speed to perform at their maximum capacity. With an Outsourced CFO, they have so much experience entering organizations mid-process that they always hit the floor running. Outsourced CFOs quickly assess the situation and put actions to resolve challenges and achieve goals.
Outsourced CFOs are independent professionals who offer objective leadership and have an ability to make tough decisions that a business owner or full-time employee might have difficulty making. For instance, an Outsourced CFO may advocate the elimination of jobs that are not yielding sufficient returns.
Outsourced CFOs work side by side with business owners to help them determine how they should focus on their financial resources. An Outsourced CFO can also work alongside sales directors, COOs, and HR directors, therefore making your life easier. They can help manage costs by balancing expenses with sales goals.
While most CFOs, Controllers, and Bookkeepers bring some of their own preferences or style into how they format documents, files, or reports, an Outsourced CFO is more likely to have adopted the most widely accepted best practices for generating and formulating client reports and deliverables.
Outsourced CFOs have worked with dozens of different personalities—often simultaneously. They know how to bring financial expertise to an existing team without ruffling feathers or egos. Expect a CFO who knows how to bring about change without causing contention in the organization.
Moazam A. Shah is Managing Director at Fyber Consulting. Moazam’s global experience within the world of accounting and finance spans well over 20 years, in which he has worked with some of the largest blue-chip firms around the world, including in the United States, the United Kingdom, Australia, Middle East and Asia. He is an alumnus of PricewaterhouseCoopers LLP in New York.
Moazam A. Shah is Managing Director at Fyber Consulting. Moazam’s global experience within the world of accounting and finance spans well over 20 years, in which he has worked with some of the largest blue-chip firms around the world, including in the United States, the United Kingdom, Australia, Middle East and Asia. He is an alumnus of PricewaterhouseCoopers LLP in New York.
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