Why Do I Need An Outsourced CFO?
Accurate financial planning, forecasting and modeling are essential to the successful growth of any business. What is an outsourced CFO? An outsourced CFO or chief financial officer can provide experienced insight when big decisions are on the line and also, step back to provide a better view of the company’s overall financial health on a monthly basis.
A C-Suite without an internal or full time CFO may sound like a new idea but it is the way of the future. If your company was not founded with a CFO or chief financial officer as a core part of your leadership team or if that team member has moved on as you have grown, an our outsourced CFO services may provide the perfect level of collaboration, experience and affordability that is right for your company. We provide fractional CFO services and temporary CFO services so you can customize your outsourcing to tailor to your business needs.
Learn how an Outsourced Accounting Partner can help you grow
Outsourced CFO Services include, but are not limited to:
- Business development
- Exit planning
- Risk mitigation
- Audit support
- Board presentations
- Raising capital
- Lead B2B transactions
- Oversee due diligence on purchase or sale of business
CFO Duties
CFO duties vary on an ongoing, monthly, quarterly and annual basis. The CFO’s main job is to provide strategic insight, guidance, support and coaching to clients in order to build a trusting relationship.
Ongoing:
- Strategic development, support, and consulting
- Develop deep relationships with senior management, external partners, and stakeholders
- Provide professional financial advice to the client while building a trusting relationship
- Look for ways to cut costs and improve profitability
Monthly:
- Evaluate health of the business
- Focus on goal attainment for client
- Delivery of consulting services to improve financial results
- Project planning and strategic consulting
Quarterly:
- Review cash flow forecasting
Annually:
- Lead complex business and financial negotiations
- Develop balance sheet strategies for safety & strength
- Integrate financial thought leadership into strategic & operational planning
With an Outsourced CFO You Get Greater Financial Expertise
CFOs are more experienced in M&A transactions, strategy and long term financial growth than Controllers or Accounting Managers. A CFO will have at least 10 years of experience in a leadership capacity. The TGG CFO team has a depth of experience without having become rigid in one industry. The TGG Way™ provides reliable accounting structures that allow for more flexibility in problem solving and collaboration by our CFOs. The solid accounting processes support clear decisions and confident forecasting and future-pacing for the companies we work with.
Outsource Your CFO With TGG Accounting
With a higher level of internal controls and added layers of review, your outsourced CFO is there to guide big decisions, see the trends in the market, help the company pivot when necessary while creating financial understanding and security across the organization.
READ OUR CASE STUDIES:
Due Diligence Leads to Successful Sale
Case Study – A Media-Buying Agency Reaps the Benefits of Having a Team of Financial Experts
Case Study – How One Ecommerce Company Transformed Their Business and Gained Superior Visibility into Their Financial Performance
Case Studies – Scaling an Online Platform
Case Studies – Preparing for Exit
Case Studies – Start-up Concept Validation
Case Studies – Ready For Growth Phase
FAQ SECTION:
How does TGG charge for these services?
TGG charges on a time & materials basis. We develop a custom approach for each client that includes a monthly project plan. Our teams communicate when changes arise and provide full transparency when it comes to cost and budgets so there are no surprises.
What businesses benefit the most from outsourced CFOs?
Any business that does not employ an internal CFO can benefit from an outsourced CFO. At TGG, the most important thing for our CFOs is the client relationship. Our CFOs build trusted relationships with the business owner and provide financial expertise and guidance to help them achieve their goals – both personal and business. Working with an outsourced CFO is more cost effective for small businesses than a full-time hire. Additionally, the TGG outsourcing CFO function is to provide indirect access to the collective knowledge and experience of the entire Company.
What is the importance of a financial strategy?
Every business needs a financial strategy as a key component of the goal setting and decision making processes. A financial strategy establishes how a business will use and manage financial resources in order to meet its goals. Lastly, it shows whether goals are realistic and is the actionable roadmap for the business.
What financial services do we offer? TGG offers a variety of accounting and finance services. These include, but are not limited to, outsourced accounting, finance consulting, exit planning, operational reporting, cash flow forecasting and outsourced CFO services.