What is a fractional CFO and how and when do you use one? Following are some of the roles we play.
A part-time CFO role is when we assume the full CFO role of a company, but on a part time basis. That could be one day per week or one day a month, and is adjusted to your needs.
An interim CFO role is when we assume the full CFO role, part-time or full time, but only on an interim basis during the absence of the company’s regular full time CFO.
The fractional CFO role can fill the role of a part-time or interim CFO, but can also simply provide additional CFO-level resources to the company’s standing CFO on an à la carte basis. This might be for reasons such as:
- Company growth has exceeded the capacity of the CFO but not reached a point that justifies an additional hire.
- Cyclical demands on the CFO role for monthly or year end closes, quarterly reviews, strategic planning or other needs that prevent the CFO from devoting all the time required to other responsibilities.
- Demands on the company’s CFO fall in areas outside his/her core area of experience or expertise.
- Major business events such as mergers, acquisitions, sales, restructurings, relocations and reorganizations.
- Other special projects.
Our core services provide fractional CFO support in the following areas:
M&A, due diligence and integration
Decision analysis and support
Planning & Analysis
Budgeting and forecasting
ERP / Business Systems
Database architecture and alignment with business needs
Post implementation reporting, dashboards and metrics
NetSuite implementation consultant and post-implementation support
Other special projects