BENEFITS of RENT - CFO 

If you need financial leadership in your organisation but you are not sure where to start, we will guide you through the entire process.

 

There is a suite of CFO options to choose from, depending on your needs. They range from the remote expert who provides occasional advice, to the on-site CFO who can augment your existing team for an extended period of time. We break down the pros and cons of each, so you can make the right choice for your business.

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HOW WE WORK

 

1. The Virtual CFO

The virtual CFO works remotely and is often part of a general accounting practice. As a result, they tend to be very tax and compliance focused. A virtual CFO can assess the information you provide and give financial advice, but they don’t act as a member of your management team or implement strategies within the business. This option is best for small businesses who want to build a long-term relationship with a financial expert but don’t need the business expertise of an experienced CFO.

 

 

2. The Contract CFO

A contract CFO works in the business for a specified period of time, usually during times of change or implementation of a project when management need all hands on deck. This option is good when you need to bring someone on in a hurry, but it can take a while for them to get up to speed and when they leave, you lose the insights they’ve gained during their time working in your business. It can also be a risk to share business-critical information with someone who will be in your business for such a short time.

 

 

3. The Interim CFO

During times of turnover or absences of your current CFO or Financial Controller, we can provide immediate interim assistance so that your company doesn’t miss a step.  If needed, we can even assist your company to secure a replacement and provide training and transitional support after they arrive, thus ensuring a smooth and successful executive transition.

 

Much like a contract CFO, an interim CFO is usually engaged for a 3-6 month period while you recruit someone into the full-time role. A good CFO will be able to assess your business requirements and prepare for the transition, so you can focus on recruiting the right person for the job. An interim CFO can also bridge the gap between CFOs, ensuring your business meets all its responsibilities and nothing falls through the cracks.

 

 

4. The Consulting CFO

Providing the expertise of senior-level in-house financial management without the fixed overhead. This arrangement works for a wide range of projects to support the financial, organizational and operations needs of the client.

A consulting CFO works across the full spectrum of roles, from virtual to full time. They become part of your management team and play a vital role in driving outcomes for the business over the long term. Consulting CFOs are usually part of a recognised firm, like CFO Strategic, which allows them to draw on the combined expertise of their team. They’re also ideal for peak periods or during transactions, as the firm can quickly add more CFO resources as required.

 

 

5. The Part-Time CFO

This is a perfect answer to the needs of small companies that require CFO competencies to assist in the development of a strong foundation from which to build a successful company. We can assist early stage growth companies with the much needed functions.

 

Part-time CFOs are ideal for businesses that don’t need a full-time resource, but require the skills and experience of a qualified CFO. They will work as part of your management team, take responsibility for outcomes and become intimately acquainted with your business over the long term. Finding a part-time CFO can be a challenge, especially if they want to work particular days or hours. You’ll need to consider whether a rigid approach will work for you, or if you need a resource who can be flexible and work around your business needs.

 

 

6. The Full-Time CFO

Many people find that even when they have a full-time CFO in their business, they need an additional resource during times of change or growth, such as an acquisition, sale or IPO. In some cases, the existing CFO doesn’t have the expertise for a particular situation, or they are so busy with day-to-day operations that they don’t have the capacity to take on any more work. Augmenting your CFO with an additional resource can free up your team and give you the insights you need to move forward with confidence.