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Jan 30, 2023

How Can a Fractional CFO Generate Value for my Business?

Sponsored Content provided by Chris Capone - CPA; Owner and Fractional CFO, Capone & Associates

A CFO’s role is to oversee all financial and accounting matters of an organization - providing leadership, operational oversight, key relationship management and the technical skill set to navigate the good, the bad and the ugly.  Every business and organization can benefit from an experienced CFO, especially now as we enter territory of economic slowdowns and adjustments in fiscal policy.
 
A Fractional CFO is an excellent solution for smaller businesses because the organization is able to receive the value and expertise of an experienced C-Suite level professional and team at a fraction of the cost.  We can provide a team of bookkeepers, controllers and CFOs to each engagement at the right leverage and scale – meaning the investment is based on a blended rate.  
 
Our primary goal is to provide a sound financial infrastructure that allows the business owner to focus their time and effort on building and running their businesses.  We ensure ownership and leadership receive complete, accurate and timely financial information to make informed business decisions, while using a forward looking and proactive approach to identify potential risks or issues before they arise.  The business owners we work with today tell me they sleep better at night knowing they have us as part of the team, overseeing the finances and generally making sure nothing slips through the cracks.
 
We provide a depth and breadth of practical, real life business experiences from working with many organizations across different industries and stages in lifecycles.  We are able to implement the best-in-class solutions saving you time, money and headaches, doing things right the first time.
 
What does a Fractional CFO engagement look like?
 
A typical Fractional CFO engagement encompasses the following items, and can be customized for every business.  Our website outlines our service offerings in more detail.
 

  1. Provide bookkeeping, payroll and sales tax services. 
  2. Financial analysis with forward looking and proactive insights on business and economic trends.
  3. Generate packages, reports and presentations to Ownership, Tax CPAs, Bankers and other partners or stakeholders.
  4. Act as a sparring partner to discuss operational and strategic decisions.
  5. Support and execution through large deals, transactions and other organizational initiatives or projects
 
So, how does it work?
 
Our process is simple and effective:
  1. Discovery – data and information gathering, discussing goals and current roadblocks
  2. Scoping and Planning – developing a scope of work, deliverables, responsibilities and engagement budget
  3. Execution and Continuous Improvement – Execute to the plan, monitor results and metrics, identify additional areas for improvement and repeat the cycle
 
When should I engage a CFO?
 
It is never too early to engage a CFO.  The majority of our engagements start with “cleaning up” several years’ worth of financial data, addressing overdue taxes and reports and re-designing systems and processes.  If we were able to work with these businesses from day one, a lot of time, money and headaches would have been saved.
 
We genuinely enjoy speaking with business owners and leaders to identify ways to add value to their organizations.  Please reach out for a free consultation today, or say hi at the next Wilmington Biz event.
 
[email protected]
(910) 415-7715

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