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When Is a Part-Time CFO Right for Your Business?

When Is a Part-Time CFO Right for Your Business?

Need knowledgeable and experienced financial talent, but only require help just a few days a week?  Do you lack the budget to support the six-figure salary of a full-time Chief Financial Officer? Consider outsourcing to Pro Back Office. They employ the best of the best CFO’s who can bring extraordinary value to your business.

Retaining part-time, also referred to as fractional, CFO’s continues to gain widespread acceptance with businesses and organizations of all types and sizes. Part-time CFOs provide an affordable means of acquiring the benefits of C-level financial talent without incurring the expense of a full-time, in-house executive. Available through outsourcing agencies such as San Diego’s Pro Back Office, the part-time CFO can step in to do the following activities, on an hourly basis, and either on site or remotely:

·       Oversee the business’s forward-looking financial initiatives

·       Conduct and participate in strategic planning activities

·       Prepare and manage operating budgets

·       Forecast, manage and report on cash flows

·       Institute internal controls and segregation of duties

·       Monitor and advise on financials

·       Manage all compliance requirements

·       Identify and oversee all other finance and accounting support needed including controllers, accounting staff, tax accountants and auditors (CPA’s).  

The cost of a part-time CFO varies and mostly depends upon factors such as the level of skills or specialties required, geographic location of the business and prevailing market conditions in the area. Pro Back Office CFO’s range from $165-250 per hour. Part-time CFOs are extremely cost effective and by their nature bring an outside perspective to your companies operation that can be invaluable.

Five common reasons to consider outsourcing to Pro Back Office are:

(1)  You don’t have a need for a full time CFO. Having a scalable resource from 4 to 80 hours a month is much more cost effective!

(2)  To replace someone who has left the company or is away on an extended absence such as sick leave or maternity leave

(3)   To bridge the gap when financial expertise is needed for a fixed period of time

(4)   To oversee a special, one-time project

(5)   To assist with a complex fiscal issue, such as an Initial Public Offering (IPO,) compliance support with Sarbanes Oxley, corporate restructuring, or merger and acquisition support

Why Use Pro Back Office to Fill Your Fractional CFO Requirements Today?  

Outsourcing a qualified, carefully vetted part-time CFO through an established provider such as Pro Back Office gives businesses top-level talent at a fraction of the costs associated with supporting a full-time, in-house financial executive.  Since they began in 2012, Pro Back Office has gained the reputation for delivering top notch talent and expertise. Their friendly, talented and incredibly experienced staff can be your finance department at a fraction of the cost.

Serving businesses throughout Southern California and Arizona, Pro Back Office has access to outside professionals with the experience and expertise to serve the needs of businesses in virtually any industry sector. Contact the professionals at Pro Back Office at 858-622-1681or email info@probackoffice.com. You just may find that outsourcing a part-time CFO may be the best thing that could happen to your business! 

Resources:

http://www.probackoffice.com/

http://ww2.cfo.com/people/2013/11/freelance-finance-chief/

http://searchcio.techtarget.com/definition/C-level

https://www.entrepreneur.com/article/270740

http://www.journalofaccountancy.com/issues/2003/apr/cfosforhire.html

https://www.thebalance.com/what-to-expect-from-an-outsourced-cf 

 

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Author

Jennifer Barnes
Pro Back Office CEO and Co-founder
Jennifer has a MBA from SDSU, an undergraduate degree in Finance and Marketing from the University of Arizona, a degree in Accounting from Liberty University and completed the Becker CPA courses. Through a couple consulting firms, Jennifer acted as the Controller at numerous companies in Arizona, San Diego and Orange County. She also held the position of Director of Finance and Accounting at many well-known non-profits throughout San Diego County. Jennifer sits on numerous boards and councils, including The Better Business Bureau, The Business Executives Council, The San Diego Food Banks Leadership Council, The MIT Wine Social Committee, and Junior Achievements Young Executives Board. She is a member of both Vistage International and Sage Executive Group.

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