REASONS WHY USING A CFO SERVICE MIGHT BE A GOOD CHOICE:
You Only Pay For What You Need
While many Small to Medium-sized Businesses need the skills and services that a CFO or Controller can provide, most simply don’t have sufficient resources (or the need) to hire a full-time CFO/Controller. With a part-time CFO/Controller, you get the full complement of skills and experience that a CFO/Controller has to offer at a fraction of the cost. A part-time CFO/Controller is the right solution at the right price.
A CFO Service Often Pays For Itself
Quite simply, a CFO service often pays for itself through process improvement, resource optimization, and increased profitability. The icing on the cake is that you end up with a strong financial leader on your team who may be costing you little or nothing. Many CFO Service clients will say, “Hiring a part-time CFO is a no-brainer because it saves me money”.
*See “Success Stories” page.
Increased Profits & Control
Profit By Design will help you achieve greater profit and control of the business’ finances through:
Insuring that the books and related financial reports are accurate and meaningful, providing for informed and effective decision making
Identification and optimization of key drivers of profit and cash flow
Establishment of budgets, variance analysis(actual vs. plan), and related reporting
Cash flow forecasting , margin analysis and optimization
Monitoring and management of enterprise Key Performance Indicators
Provide support for key decisions and management initiatives.
Internal controls
Managing and optimizing external relationships(vendors/providers, agencies, etc)
Independent Perspective & Experience
Dealing with the countless day to day issues of running a business can result in a loss of perspective, or objectivity. Adding a CFO to your team provides for an independent, “third-party perspective”. Profit By Design brings 25+ years of real-world business experience to the table. But our scope of experience is broadened further by having worked with numerous other companies who have navigated through a universe of challenges, some of which your company may be facing today. The experience we’ve gained through our client relationships is leveraged and brought to bear when Profit By Design joins your team.
Optimize CEO/Owner Core Competency
More often than not, the key driver of the company’s success is the unique vision and skills, or the “core competence”, of its CEO/Owner. This core competence often lies in product/service vision and development, production, sales & marketing, etc. It’s logical then that the more time the CEO/Owner spends outside his/her area of core competence, the more it interferes with the sustained success of the enterprise. The financial management of the company should be delegated to those best equipped for the task. Retaining a CFO Service like Profit By Design will help free up the CEO/Owner to do what they do best; lead their company to the next level of success.
Financial Leadership, Strategic Partner
In order to achieve sustainable growth and success, every business must have a visionary & strategic leader(usually the CEO), an operations leader, a marketing leader, and a financial leader. Weakness in any of these areas has the potential to impede, or impair a company’s ability to grow or sustain itself. The founder of the company may fulfill all of these roles in the beginning, but when a business reaches a certain size and the demands and complexities of the operation have grown beyond the capacity of the founder, each of these roles eventually need to be delegated out to dedicated professionals in order for the company to move forward. Engaging Profit By Design CFO Services as your company’s financial leader is an optimal transitional step in this direction. In addition to all of the other benefits described throughout this site, Profit By Design will serve as the strategic partner to the CEO and his/her leadership team.
*See the “Services” page for a full listing of the various services and benefits of a hiring a CFO/Controller service.
