Lower Cost — CFO salaries vary somewhat by region and industry, but according to Glassdoor, the national average salary for a CFO across all industries is just over $156K, and that does not include the cost of taxes, health benefits, vacation time, and other perks. When you work with a part-time CFO, you get the same skills and expertise as a full-time employee, but at a fraction of the price.
Shorter Time to Hire — Hiring a new full-time employee, especially at the executive level, is a huge commitment and typically requires a thorough search, several rounds of interviews, background checks, and additional fees if you work with professional recruiters. Not only is this process expensive, it can last for months, and you may need CFO services now. If you work with a part-time CFO firm, there’s a much shorter turnaround time. We are often able to start work within one week of being contacted.
Resource Saving – Space, software, technology, financial tools & more — Most part-time CFOs work remotely, which is ideal if your business is just starting out and your physical office space is limited. Phone calls and online communication tools make it easy for a part-time CFO to keep you informed, no matter where they are located.
Greater Flexibility — If you run a small or medium sized business, your CFO requirements may not justify having a full-time CFO. With a part-time CFO, you can get just the services and man-hours you need at a fixed monthly rate. If your needs change as your company grows, you can easily increase your CFO hours and services.
Contact us and find out if hiring a part-time CFO is the solution your company needs.