Business owners often come in confused about when to hire a CFO or outsourced CFO service. A common misconception is that there’s financial threshold for requiring CFO services; however, the complexity and frequency of transactions is a far more accurate benchmark.
If any of the following sounds like your business, it may be time to consider hiring an outsourced CFO service:
- Rapidly-growing business
- Slow, inaccurate financial information
- Preparing for a merger or acquisition
- Doesn’t have a handle on cost control measures, capita acquisition, banking relations, or regulation
Outsourced CFO services take the data provided by your existing bookkeeper and provide you with actionable information. You can use the graphic below as a visual for what types of assistance we provide our clients.
An outsourced CFO service can help manage risk, interpret financials, and allow owners to take control of their business finances. If you want more information, feel free to give us a call at (410) 893-9100.