why a fractional cfo or controller might make sense for your business
Outsourcing and fractional services are increasingly becoming the trend in the small- to mid-sized business arena. As companies grow, they look to outsource bookkeeping, month close, cash flow forecasting, and budgeting. Once a business brings in $1-2 million in revenue, it often makes sense to hire a fractional CFO/Controller, especially if you and your company want to:
- Implement best practices in your organization.
- Improve operational inefficiencies and reduce costs.
- Better manage and forecast cash flow.
- Maximize the usefulness of internal reporting so that you can make better business decisions.
Various Roles on the Accounting Team:
Generally, the bookkeeper handles the day-to-day tasks, including but not limited to accounts payable, payroll, invoicing and collections.
A Controller oversees the overall accounting processes and systems. They close the monthly financials and oversee the internal controls processes.
The CFO, or chief financial officer, is responsible for financial forecasting, cash forecasting and management, banking relationships and debt structuring.
Your CPA, or certified public accountant, generally handles tax planning and compliance. Also, project-oriented consulting like mergers and due diligence.
At Badger CPA firm, we use our team approach to provide the solutions to most effectively meet the needs of the business. We provide full service outsourced accounting and fractional Controller/CFO services. What differentiates us from other CPA firms is we are not compliance-focused but operationally focused. Our primary goal is to work with our business owners to improve their bottom lines. If you are interested in a free consultation, please email me at: Shannon.Badger@badgercpa.com.
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