The Role of a CFO
When a Fractional CFO Makes Sense
While there are no written rules defining what services a Fractional CFO may be asked to perform, typical examples include:
- Monitoring and evaluating existing bookkeeping and HR functions
- Cash Management – examining your company’s current cash flow including: Aged Receivables, company credit terms and how to deal with uncollectible accounts. As well as Aged Payables, extension of payment terms and available discounts.
- Sales forecasting and expense budgeting for the company as a whole and various profit centers.
- Establishment and maintenance of professional and productive legal, audit, and banking relationships.
- Preparation and presentation of timely and accurate reports to boards, investors and governmental agencies.
- Negotiation of:
Equipment, furniture, automobile and office space leases
IT and PBX networking, service contracts, hardware purchases and software compatibility
Trucking and warehousing costs
- Asset Maintenance including Security and Alarm Systems, Shredding, Recycling and Waste Removal Service
- Evaluating personnel, including job descriptions, hiring, training, terminations, handbooks and evaluations.
- Office Expansion Coordination between all vendors keeping project on time
Has your business grown to the point where a fractional CFO would benefit further growth?
Cash Flow Enhancement
Nobody wants their cash tied up in receivables and everybody wants to take advantage of special payment terms. Have systems in place to maximize vendor discounts and minimize overdue receivables. More cash in your pocket allows for more opportunity for growth.
Identify and Manage Risk
Risk can be mitigated through an effective system of checks and balances, due diligence, and quality relationships. We help create a culture of high integrity and confidence that important decisions are based on reasonable expectations.
Focus on Sales Growth
A CFO will allow you to focus on your expertise. The days of putting out fires will be over. Whether it is a problem account, an impatient vendor or an insubordinate employee, imagine how good it will feel to say “ask my CFO”.
Employee retention and high turnover can become time consuming and expensive. Your team is the foundation of your organization. We advise how to hire, train, compensate, inspire and most of all retain top performers.
Our unique service provides you with direct access to financial and operational expertise formerly available only to large organizations – but at a fraction of the cost of a full time executive.
Client success is our number one goal and our service and support goes beyond the finance and accounting department. Our CFO will carefully evaluate and thoughtfully address all areas that affect the financial and operational success of your company. From Business Plans to HR management, Strategic Planning to IT Support, CFO Solutions of Chicago can add substantial long term value to your bottom line.