What it is
The chief financial officer (CFO) is an executive corporate officer responsible, among others, for managing an organization’s financial risks, mapping the operations and business results with financial KPIs, and identifying and reporting on actions needed to help the business survive and thrive.
Handling financial matters can be a handful for business owners, and with the inflation and economic downfalls, hiring a full-time CFO might be too much.
This is where part-time CFO support comes in handy. By hiring a skilled CFO with experience in the field, you extend your business’ capabilities and mitigate risks.
How it affects your business
As a business owner, hiring a part-time CFO will relieve you from all matters related to accounting and finances, since a professional financial manager will help guide your business to success.
XB4’s part-time CFO services provide you with experienced support at a small fraction of the cost of a full-time financial manager. These services include but are not limited to:
- Managing debts, costs, and revenue
- Creating performance strategies
- Managing risks and taxes
- Analyzing data and planning budgets
- Analyzing and controlling cash flows
- Mapping operations results with financial KPIs
- Identifying and reporting on actions needed to help the business survive and grow
At XB4, our part-time CFOs are here to provide you with all the solutions your business needs regarding financial and accounting matters.
They will also manage costs and business transformations, as well as providing you with:
- More time to focus on new services, new customers, and other core business issues
- Better understanding of the financial situation of your business
- Improved decision-making capabilities through clearly seeing your business’ true numbers
- A readily available sounding board to help you with tough business decisions and help you clarify your business plans
- The comfort of knowing that a professional is overseeing, protecting, and constantly improving the financial situation of your business
- A professional who establishes strong financial controls in your business to reduce employee theft and increase profits
- Training for your accounting staff
- Improved quality and timeliness of financial information
- Budget preparation and monitoring
- Profitability analysis by service or product line
- Tax saving strategies
- Trend analysis
- Assistance in defining long-term plans and goals
- Cash management
- Liaison with bankers, attorneys, vendors, insurance agents, etc.
- Assistance in obtaining financing from banks, including assistance with negotiations
- Review of insurance policies
- Development of company accounting procedure manuals
- Analysis of equipment purchases, expansions, etc.
- Merger and acquisition assistance
- Custom-designed collection policies and procedures