By Analytix Editorial Team
For a small business, one of the challenges to survival includes managing a competitive environment together with focusing on the business’ growth prospects. The burden of running the company along with ensuring you are doing the right things to help growth can take a toll on the key area – business financials. The end result could be anything from ill-managed client needs to late deliverables to loss of business; each of which can independently lead to depletion of funds and red flags in the company’s finances. For business growth and survival, you need two key elements: well-managed financials and the ability to retain your competitive edge. Both of these are CFO functions. However, since a small business operates on a restricted budget, hiring a CFO can be prohibitive.
Outsource the CFO function
Instead of hiring a full-time, in-house CFO, you can choose to outsource your needs to a part-time CFO. An outsourcing arrangement helps you:
Benefiting from outsourced CFO services
A CFO will bring a focused approach to your business financials. Most often, there are four major components to business financials. These include cash flow, bookkeeping and accounting, managing revenue, and operations.
Further, when you outsource the CFO functions, you can choose to have the CFO resource work on your needs, together with any existing resources you may have. Some of the ways in which outsourcing can help your business include:
Advisory and strategic role
When your accounting and bookkeeping are in order, your business financials can be assessed without any major problems. Accurate accounting also reflects the financial health of the business. However, when you outsource CFO services, you ideally get value beyond financials of the business. These include:
At Analytix Solutions, our CFO will work closely with you to customize financial solutions for your business. Our solutions are cost-effective and help increase your business profitability measurably. Call us at 781.503.9002 or send us an email at [email protected] and we will contact you.