A CFO's duties vary with the size of the company and where it is in its growth stage. In many circumstances, a full-time CFO is not required. Often it is better to have a CFO available “on-call” and supported by skilled junior and mid-level accountants.
Few companies require a full-time CFO, especially at the early stages, but every one of them needs the help, especially at the early stages.
EARLY STAGE COMPANIES
In its formative stages companies simply cannot afford to hire a CFO full-time, but always require his/her skills. Start-ups almost always are better off contracting services such as:
Finance Matters has helped many companies through this stage of its life cycle. We work with the company to ensure it is getting the advice and services needed to get to the next stage.
COMMERCIALIZATION AND GROWTH STAGES
At these stages a CFO helps establish the foundations of an operating company by developing account policies and procedures, hiring intermediate and junior accountants, and overseeing many of the various administrative functions of the company (HR, IT, admin). The CFO’s main concern is controlling the growth of the company and managing it through this cash intensive period. Again, a full-time CFO might not be required. One on a part-time contract will often suffice, but they are often hard to find.
Finance Matters has provided part-time CFO services to a variety of companies at the both the commercialization and growth phases. If you are interested to learn more about what a part-time CFO can provide to your business, please contact us, at Finance Matters to discuss if we can help.
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