BENEFITS OF HIRING A FRACTIONAL CFO

​For many small and mid-sized businesses, hiring a full-time Chief Financial Officer (CFO) can be a major expense that simply isn't feasible. Fortunately, there is a solution that allows businesses to access the expertise of a CFO without the high costs associated with a full-time position. That solution is a fractional CFO.
 
A fractional CFO is a financial expert who works part-time for a business, providing strategic financial guidance and support as needed. This can be a cost-effective solution for businesses that need help managing their finances but don't require or cannot afford a full-time CFO. Here are some of the benefits of a fractional CFO:
 

• Cost savings - One of the most significant benefits of a fractional CFO is cost savings. Hiring a full-time CFO can be expensive, with salaries ranging from $150,000 to $300,000 or more per year, depending on the size and complexity of the business. In contrast, a fractional CFO can be hired for a fraction of the cost, with fees ranging from $1,500 to $10,000 per month, depending on the scope of the work.
• Access to expertise - A fractional CFO brings a wealth of financial expertise to the table. They can help businesses with financial analysis, budgeting, forecasting, cash flow management, and financial reporting. They can also provide guidance on strategic financial decisions, such as mergers and acquisitions, fundraising, and capital investments.
• Flexibility - Another benefit of a fractional CFO is flexibility. Businesses can hire a fractional CFO for as little or as much time as they need. This can be particularly helpful for businesses that are experiencing rapid growth or facing a financial crisis. A fractional CFO can provide support during these periods of transition, without the need for a long-term commitment.
• Objective perspective - A fractional CFO can provide an objective perspective on a business's financial situation. They can help identify areas of weakness and recommend (and implement) strategies for improvement. They can also provide an unbiased assessment of the financial implications of different business decisions, helping businesses make informed choices.
• Improved financial performance.
• Serve as an advisor to the Owner / CEO as they contemplate strategic business decisions.

 
By providing expert financial guidance and support, a fractional CFO can help businesses make better financial decisions, reduce costs, and increase revenue. This can improve profitability, cash flow, and overall financial health.
 
In conclusion, a fractional CFO can be a valuable asset for small and mid-sized businesses. They provide access to financial expertise, flexibility, cost savings, an objective perspective, improved financial performance, and a partner in strategic decision-making. If you're looking for a cost-effective way to manage your finances and move your business forward, consider hiring a fractional CFO.
 
Engage a seasoned Lauber Fractional CFO with extensive skills, experience, and strategic insight without paying for a full-time resource. With the Fractional model, you can engage a CFO on a flexible part-time basis—a day or two a week, once a month, or as often as needed—at a cost you can afford. You can rest comfortably knowing that a Lauber Fractional CFO is proficient in the most complex Finance and Accounting topics.
 
At Lauber, we don’t treat organizational health as an afterthought. To us, it’s essential. So, alongside the services we provide our clients to help them build and maintain the smart parts of their businesses (like Finance and Accounting and HR services), we offer innovative menu-based leadership and development programs and talent acquisition services, resulting in a healthy and positive team culture that drives results.

WHAT DOES IT TAKE TO BE A SMART AND HEALTHY COMPANY?