In a volatile and fast-changing market, small-to-medium sized businesses need every advantage they can get – particularly when it comes to improving their financial situation. That’s why SMBs are increasingly turning to outsourced CFO services. A small investment buys access to expert accounting and financial-planning professionals who can level the playing field, and give SMBs a chance to compete.
Hired CFO services can also reduce costs, compared to hiring a large in-house finanical team. It’s an affordable and reliable way to bring big-business fiscal planning to operations of any size!
Some of the most common outsourced CFO jobs include:
Financial Projections
How much money can you realistically expect to make in the next quarter, or year? What are your expenditures likely to be? Proper financial projections are the backbone of any fiscally-sound business that wants to succeed long-term. Hired financial experts have the experience to produce accurate financial projections you can rely on.
Budget vs Actuals
Do your actual expenses and revenues match up to what was projected in your budget? If not, you need an experienced professional to understand where the disparity is coming from. A CFO service can dig deep into your numbers and your internal productivity to discover any issues holding you back from success.
Financial Reporting
Whether you have a duty to investors, or merely need to keep your taxes straight, accurate financial reporting is a must for businesses of any size. A great financial service can ensure all your submissions and reports are entirely factual and legal. This keeps you on firm financial footing, as well as preventing costly legal issues that can come from inaccurate submissions.
Contract Reviews
CFOs don’t always get involved in contact reviews, but it can be a good idea – particularly if you want to make sure that your contact policies and benefits are financially viable in the long-term. An outside financial expert can ensure your contacts work to your favor, and don’t have omissions or loopholes which could cause issues later.
Strategic Planning
Possibly the single most important role of a CFO is long-term planning. Smaller businesses cannot afford to be reactionary in their purchases and investments. They need to be looking to the future of the market, and likely trends among their buyers, to understand the best ways to spend money today. Hiring an outsourced CFO brings access to high-powered predictive tools which make this easier to achieve.
GO Admin Solutions can be your CFO services partner, offering the best in strategic financial planning at affordable prices. Contact us to learn more!
