Companies that are in the beginning stages of growth receive quite a few advantages to utilizing the fractional model. Fractional accounting services offer three main benefits:
A fractional team helps new companies prepare for fundraising efforts, with accurate reporting and realistic projections. Having a trusted, outsourced accounting department will give your company more credibility as you look for funding to expand your business.
These fractional services also offer a large network of existing contacts that can also come into your company and advise your business through the growth stages.
Lastly, outsourced departments can consult on corporate governance and create advisory boards to lead your company into a bright future.
For businesses that have been through their growth stages and have become a bit more established, but are looking to hire a fractional team, there are still quite a few advantages.
A fractional team can help an existing company maximize cash flow forecasting, both short term and long term. They can also help organize your management team and set initiatives that assist in your companies growth.