Let’s face it, many small to medium-sized companies don’t have complex financial needs yet; therefore, there is no real need for a CFO right? Well, wrong! A full-time CFO might not be the answer, which is why it is best to look for a part-time CFO. One of the many benefits of a part-time CFO is helping your business achieve financial growth without the need to hire a professional finance executive.

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Here are 4 benefits to hiring a part-time CFO:

Gain needed expertise at an early stage

Holding out until your business is able to financially support a full-time CFO deprives your business of much-needed knowledge and expertise that only a CFO can provide.  By outsourcing, our part-time CFO will provide you with the expertise needed at an early stage in your company’s growth cycle.

Building the team your business needs

We’ve already established that hiring a full-time CFO is a cost that small to medium sized companies can’t bear at an early stage, but what are the repercussions of doing so? After hiring a full-time CFO, your company may be constrained in terms of cost, which might restrict you from hiring and building the team you wish to have. A part-time CFO saves you money, allowing you to invest in other areas of your business, and in the recruiting the team that your business needs to grow.

Better manage your cash

Understanding your company’s income statements and other financial documents are crucial to growing your business and sustaining it. A part-time CFO will explain all the numbers, as well as aid in developing strategies for better cash management. 

A better and comprehensive financial strategy

Now that the VAT law has gone into effect, most companies will be focused on registration and compliance. Although that is surely important, a comprehensive financial strategy should be the guide for your company’s practices. A part-time CFO with years of experience can make financial planning a strength of your business.

For all your questions or to contact one of our experts, email us on sales@nuummite.com.

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