Xcel Accounting takes the time to understand your business
In today’s challenging business environment, senior management gets distracted from its core business handling complex accounting and financial situations.
Organizations facing these challenges can now access higher level talent without the ongoing costs of an experienced, full-time CFO. The ongoing cost of a part-time CFO can be as low as 1/8th that of a full-time CFO.
Small and medium-sized companies that are not in a position to hire a full-time CFO benefit most from the expertise of an experienced CFO. More so, they do not have a daily need for this higher level of expertise.
Small businesses can gain valuable insight & organizational control by partnering with an experienced finance professional on a part-time basis. Xcel accounting takes the time to understand your business and provide this insight in a cost-effective manner.
Why Hire a Part time CFO?
All companies should analyze their business on a regular basis. However, many business owners are so caught up in the day-to-day obligations of running their business that they never get the opportunity to think strategically. Having a financial expert involved who knows how to read financial numbers, gather and interpret data, and then communicate to you what the numbers are saying about your business can add tremendous value.
A good CFO consultant should be able to add value right away simply by asking questions about your business that cause you to think about your business in a new way.
Experience and Knowledge
A CFO Consultant should be able to use the knowledge they have gained from working with other companies both to figure out what questions to ask and to figure out how to answer them. This goes well beyond financial numbers. CFOs get involved in all parts of the business, so you should expect a CFO consultant to get involved in your sales process, your operations, your human resources, etc.
Most small business owners would be hard pressed to compare the operations of their own organization to that of others. A CFO consultant can help with this.
Pay for What You Get. Most Part-time CFOs charge by the hour
Therefore, you only pay them when they are working, and the hours can go up and down according to your needs. Also, if your part-time CFO isn’t adding value, it is easier to get rid of them than it is to fire an employee.
Get More Than You Pay For
If you’re paying by the hour, then you’re not paying for all the time your part-time CFO spends thinking about your business at night, on the golf course, in the shower, etc. At Xcel Accounting, we only work with a few customers at a time so we can think about your business all the time.
• Providing dependable strategic leadership
• Adding credibility through experience and objectivity
• Providing a fresh perspective on data/systems/controls/efficiency/industry norms
• Acting as a sounding board for senior management in the decision making process
• All companies, big or small, face many of the same strategic issues.
• Contact us to discuss whether or not hiring a part-time CFO makes sense for your business.