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. When you hire a CFO you have the opportunity to add value through a variety of resources and collaboration.
Here are a few indicators that it is time for you to hire a CFO:
- 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
- Lack of planning unexpectedly interrupted cash flow
- Lead bank is concerned over quality and timeliness of financial reporting
- The business growth plans include an acquisition strategy
- Company experiences higher than expected tax liabilities due to lack of tax strategy
The resources the CFO provides can add value to and enhance the strategic direction of the company.
If you are interested in learning more or would like to hire a CFO, contact us today!