As your company grows, both in size and revenue, it becomes necessary to have a leader who can manage and think strategically about financial decisions. While CPAs are critical to the success of the organization, they may not have the time to dive in and focus on the financial future of the company. The CFO can add value through a variety of resources and collaboration with business owners.
Here are a few indicators that it is time for you to hire a CFO:
- The CEO is working more “in” instead of “on” the business
- Complexity of the business begins to erodes profits
- Business decisions are hindered by lack of timely financial data
- An early warning system would have prepared the business for significant up or downturn
- Cash flow is unexpectedly interrupted due to lack of planning
- Lead bank is concerned over quality and timeliness of financial reporting
- An acquisition strategy is included in the business growth plans
- Company experiences higher than expected tax liabilities due to lack of tax strategy
The resources the CFO provides can only add value to and enhance the strategic direction of the company.
To learn more about how our CFO Services can help you and your accounting department reach the next level, contact us today!