In Dave Robinson’s article, “How Much Do Part-time CFO Services Cost In 2021” (https://www.driveninsights.com/small-business-finance-blog/how-much-do-part-time-cfo-services-cost-in-2021), he presents a strong case for why business owners should consider outsourcing the CFO responsibilities of their business. Ahead is a quick summary of his points along with how Fox and Partners is leading the charge in the world of outsourced CFO services.
Outsourced CFO services are steadily becoming a great alternative for business leaders. If your business is struggling or if you’re looking to increase profit, having an outsourced CFO opens many different avenues and brings in a fresh perspective that is incredibly beneficial to your bottom line.
Most companies choose to hire an entire finance department. This includes hiring multiple employees for accounts receivable, accounts payable, payroll, etc. You may need to shell out additional salaries for a bookkeeper, a controller, and the CFO. Over time, these costs pile up rapidly and can put a serious strain on profits. Choosing to hire a CFO service is a much cheaper option and provides more value for your company. At F&P, we help businesses with all their financial needs. Controller duties, business coaching, and consulting are only a few responsibilities F&P can provide from a long list of tasks our team can achieve. Outsourcing these duties can often save an organization between 50% – 60% in terms of salary savings while increasing efficiency and providing better financial feedback for your organization.
Outsourced CFO services like F&P provide a wealth of knowledge to help your business grow. We bring tremendous value to your business, value backed by knowledge and experience working with business owners across a wide range of different industries. We know what works financially, what doesn’t, and how to angle your business towards achieving ultimate success in the long run. Your current finance department may not have the experience or necessary outside perspective to find ways to help your business grow the way it should. Implementing an outsourced CFO service can save your company time and money while simultaneously providing a fresh, new way of both evaluating and improving your business.
