Why you need a CFO
A CFO is a Chief Financial Officer. Typically in larger organisations, he will sit at the top of the finance and administration hierarchy, and report directly to the CEO.
Some of the key areas a CFO adds value include:
Designing policies, controls and systems to manage risk and ensure growth is sustainable;
Managing relationships with third parties like banks or investors, and ensuring your business puts its best foot forward;
Productivity, efficiency and process improvement;
Strategic planning and advice;
Financial modelling and analysis;
Supporting decision-making through the provision of management information;
Readying a business for sale or investment;
Getting the most out of your existing staff and tackling tricky HR issues.
When you need a CFO
Companies are usually advised to appoint a CFO for the first time when they are experiencing rapid growth. Usually with rapid growth comes complexity and risk, and an experienced CFO will ensure the company successfully navigates its way through strong growth.
The problem with this view is that, many SMEs will never get to experience rapid growth, because they are stuck in their ways of seeing the world: a particular market they're in, a particular solution or product they are selling, a particular category of client they serve. Without the insights of a CFO, they may not identify the lost opportunities associated with maintaining unprofitable customers, processes or products.
How we can help
If you're looking for outsourced CFO services in Perth, call us for a friendly chat about how we can help your business realise its full potential.
We can be flexible with our fee structure and adapt to the needs of your business, including contingency fee agreements where you only pay us a percentage of any improvement we make to your bottom line.