CEOs, owners and management of small to medium-sized businesses know their business and their customer needs very well. However, most businesses in this category have financial management needs that are beyond the knowledge, expertise or the experience of the in-house accounting staff. Most businesses in this category do not need either the large cost or the full time commitment of a permanent CFO. Turning to your CPA firm may help with limited scope matters, however, CPAs lack both the skills and experience that a talented and experienced CFO brings to the company. Companies in this category in general do not understand the benefits of engaging a CFO Consultant. CFO Consultants with the right skills and industry experience bring financial expertise to these companies at a fraction of the cost of a full-time CFO. The ROI to companies that engage a CFO Consultant can be huge.
CFO Consultants work as a filter between the accounting staff and the CEO/management to ensure the critical business information is being properly analyzed to enable enhanced decision making. When should companies engage a CFO Consultant? Every small to medium-sized company should have a CFO Consultant as part of their management team. Even startup companies can more quickly realize growth potential with reduced financial risks. A CFO Consultant brings confidence to CEOs/management, investors and bankers. At Harvest CFO Consulting, we have experienced banks including in covenants that client companies retain our CFO Consultants as a key member of their management team. Accurate and clear financial reporting enables bankers to gain the trust and confidence in the business enabling companies to obtain the financing the company needs to grow.
Bookkeepers, controllers and your CPA play a vital role in the financial aspects of the company. However, this team without a CFO Consultant in many cases can lead to a company not meeting its growth and profit potential, which can result in unforeseen financial burdens. Having a clear and accurate knowledge of your company’s financial position, financial performance versus benchmarks and goals is essential for the ongoing success of the business. A skilled CFO Consultant will clearly articulate your company’s financial past and present and also give you a clear picture of the financial future. A skilled CFO Consultant will help you to anticipate future financial needs that result from growth before they actually happen. The result is CEOs/management gain complete control and confidence over the direction of their company with clarity to focus on future goals.
All small to mid-sized companies can benefit from a skilled CFO Consultant. Typical scenarios in which a CFO Consultant adds immediate value include:
- Company is experiencing financial difficulties and needs a higher level of expertise to create and lead the company through the path to success.
- There are specific high-level projects, financial commitments that need high-level financial leadership.
- There is uncertainty as to how to structure or price larger customer opportunities.
- The company’s financial management needs surpass your financial staff’s knowledge and experience.
- There is uncertainty as to how the company will fund growth goals, customer needs.
- The company is not experiencing the anticipated financial returns.
- CEO/management is uncertain as to the company’s financial performance.
Harvest CFO Consulting provides highly-skilled and experienced CFOs to assist in your company’s success. The goal of our CFOs is to enhance your overall company value by providing the financial roadmap to success. Engaging a Harvest CFO Consultant could be one of the best financial moves your company can make.
