Chief financial officers (CFO) are crucial to the success of an organization including your own for-profit business because of their responsibilities in controllership, treasury and tax planning, among others. With cost-cutting measures in place to address the management issues brought by the Great Recession, your company may not be in the position to hire a full-time employee for the position. This is where CFO outsourcing comes in.
Can Your Company Handle the Services?
But before you call up the best Rochester consulting company – Rizzo DiGiacco Hern & Baniewicz, of course – regarding the matter, you must first determine your suitability for the service. You must consider these factors:
• Cost. Will you be able to pay for the professional fees of the Rochester CPA assigned as your organization’s CFO? Rest assured that our fees are substantially less than hiring a full-time CFO.
• Staff. Does your organization have the finance staff members who will work with the CFO?
• Structure. Does your company merit the services of an outsourced CFO considering the present organizational structure?
You may have no clear answers to these questions but, fortunately, you can always ask for a free consultation session with a Rochester accountant on our team for this purpose. In most cases, nonetheless, you will benefit from our CFO outsourcing services because we tailor the outsourcing package according to your needs and wants in the position.
Does Your Company Require the Services?
We consider it necessary for an organization to hire a third-party independent CFO in the following instances:
• Starts-ups will benefit from expert knowledge in building the appropriate financial structure as well as asset management, capital sourcing, and setting up of books of accounts, to name a few. The rules and regulations related to setting up business can be bewildering but CFO outsourcing services make it easier and faster to comply with the law. Yes, we go beyond the usual Rochester taxes payment.
• Organizations experiencing business growth requires advanced knowledge, skills and abilities in banking, finance and accounting, which present employees may have little to no clue about. Don’t jeopardize your company’s growth by relying on inexperienced individuals to do the job.
• Companies on the verge of something big – a merger, an acquisition, or a sale, for example. These activities, which involve substantial amounts, should be handled by the pros – the best Rochester accounting firm, Rizzo DiGiacco Hern & Baniewicz.
If you fall into one of these categories, we suggest seriously considering our CFO outsourcing services. A simple cost and benefit analysis will reveal that the benefits far outweigh the costs.
What Are the Benefits?
Speaking of benefits, take a look at a few:
• Independent point of view. Your organization will be provided with an objective assessment of its status, strengths and weaknesses, and threats and opportunities, which an insider will be unable to provide.
• Experience in a wide variety of settings. Your company will have a CFO with a broad range of expertise and experience in various industries, which enables him to see the bigger picture.
• Broad connections. Networking opportunities are important in any industry, which a third party CFO brings to the table.
Indeed, we will provide the best CFO outsourcing services in town but you must talk with us on this matter first.
The answer is a definite yes. Outsourcing the can help any sized firm. Even very large companies often outsource because they find that it allows them to keep fewer and more specialized employees, thus lowering salary, Social Security and Medicare…
RDG+Partners wants to be the primary advisor for motivated business owners. The firm is committed to providing boutique level accounting, tax and business consulting services to the Rochester, NY community.