Managing your finances is the key to success for any business, large or small. However, for many businesses sometimes financial management tasks such as bookkeeping gets left on the back burner. For smaller businesses focused on just getting by, this can be especially true. The services and experience a CFO can offer your business are highly valuable. However, this also means that keeping a CFO on staff can be very costly.
What's the answer to balancing a need for financial management assistance without breaking the bank? Outsourcing! With outsourced CFO services you can get the professional service your business needs. There are a number of benefits to seeking outsourced CFO services.
AFFORDABILITY. The average salary for a full-time CFO is around $300,000 a year. Outsourcing your CFO services, however, means you are using a fraction of the CFO's time on an as-needed basis. You get all of the knowledge and experience of a CFO at a fraction of the cost.
INCREASED REVENUE. An outsourced CFO can do more than just balance your books, he or she can produce results. A skilled CFO is able to increase revenue in a number of ways, and often faster than you may think—by negotiating lower costs with vendors, invest in efficient software, offer transparency in bookkeeping and finances, advise cutting back on unnecessary expenses, increase production with strategic investment advice, project revenue and create a plan for growth—and much more!
IMPROVED TIME MANAGEMENT. Bookkeeping is a time-consuming and tedious process yet necessary for any business. By using an outsourced CFO service, you can direct more time and energy into running your business and leave all the bookkeeping to a skilled finance professional.
TAX TIME MADE EASY. Pulling together all the necessary paperwork to make sure taxes are paid properly is another time-intensive and tiresome task. An outsourced CFO can make tax time easier with regular organized bookkeeping.
FINANCIAL STRATEGY. Planning ahead is essential to making sure your business stays afloat. An outsourced CFO will take into consideration your current finances and goals for the future to create an effective financial strategy for your business.
NEW WAYS TO SAVE. CFOs are trained in seeking out ways to help you save, including using technology that helps your business run more efficiently. A CFO could introduce you to advanced bookkeeping software or other industry tools beneficial to your specific industry.
EXPERT ADVICE ON DEMAND. Learning the specifics surrounding financial management can be difficult and confusing. With an outsourced CFO, you'll get the answers you need directly from an expert.
Business & Accounting Solutions is here to provide the CFO outsourced services your business needs. Founder Don Lewis brings over 37 years of accounting and business experience to the table. Business & Accounting Solutions offers many services, including bookkeeping, cash flow, finance consulting, and more. Contact or call us at (503) 710-6213. Know someone in need of CFO services? Consider our referral program.