CFO Services

CFO services include the strategic side of managing the financial affairs of the business. We work with you to develop a detailed plan on what you need to succeed. Some services might also include:

• Insurance matters
• Financial statement reporting and analysis
• Regulatory compliance
• Operations processes
• Company startup or dissolution
• Records and corporate document updates 
• Budgeting and planning
• Cash flow management

We have the technical expertise and the skills to effectively assist in managing your financials and forecast where your business needs to be to succeed.

We have full advisory plans at a monthly rate that depend on the need of your business and hourly consulting services billed at $250 per hour.

Think CFO for hire. All businesses need the guidance of a CFO, and outsourcing this function with a fractional CFO service is a very affordable solution!

Every business needs a CFO, and fractional CFOs are a great solution for smaller businesses. The best thing to do is just schedule a call with us and we can let you know whether you can benefit more from the monthly CFO service or just provide guidance on an hourly basis as needed.

This can depend on what stage or phase your business is currently in and what is needed. Some examples are below.
 

• Startups: To establish financial systems, secure funding, or manage burn rate.
• Growing Businesses: To handle increased complexity, such as expanding operations or entering new markets.
• Companies Facing Challenges: To address cash flow issues, debt, or declining profits.
• Businesses Preparing for Sale: To optimize financials and maximize valuation.

Using a CFO (Chief Financial Officer) service can provide significant benefits for businesses, especially small to medium-sized enterprises (SMEs) or startups that may not have the resources for a full-time, in-house CFO. Here are the key reasons to consider a CFO service:

• Cost-Effective Expertise: Hiring a full-time CFO can be expensive, with salaries often exceeding $200,000 annually plus benefits. CFO services, such as fractional or outsourced CFOs, offer access to high-level financial expertise at a fraction of the cost, tailored to your business needs or your industry.
• Strategic Financial Planning: CFO services provide strategic guidance on budgeting, forecasting, and cash flow management. They help you plan for growth, optimize profitability, and make informed decisions by analyzing financial data and market trends and then working with the business owner and management on a corrective action plan.
• Improved Financial Management: A CFO service can streamline accounting processes, ensure accurate financial reporting, and maintain compliance with tax laws and regulations.
• Access to Specialized Skills: CFOs bring expertise in areas like fundraising, mergers and acquisitions, financial modeling, and risk management. For example, they can assist with securing loans, attracting investors, or navigating complex transactions, which is invaluable for scaling businesses.
• Scalability and Flexibility: Fractional CFO services allow you to scale financial leadership based on your business’s stage and needs. Whether you need help for a few hours a week or during a specific project (e.g., preparing for a sale), they adapt to your requirements without long-term commitments.
• Time Savings for Owners: Business owners often juggle multiple roles, including financial oversight. A CFO service frees up your time by handling complex financial tasks, allowing you to focus on core operations, sales, or product development.
• Objective Perspective: An external CFO provides an unbiased, data-driven perspective on your business’s financial health. They can identify inefficiencies, recommend cost-saving measures, and challenge assumptions that internal teams might overlook.
• Enhanced Decision-Making: CFOs translate financial data into actionable insights, helping you understand key performance indicators (KPIs), profitability drivers, and market opportunities. This ensures decisions align with your long-term goals.
• Crisis Management and Turnaround: In times of financial distress, a CFO service can develop recovery plans, negotiate with creditors, or restructure finances to stabilize your business.
• Preparation for Growth or Exit: If you’re planning to scale, raise capital, or sell your business, a CFO service can prepare financial statements, improve valuation, and ensure due diligence processes are robust, making your business more attractive to investors or buyers.

Business owners receiving guidance can optimize pricing, area coverage, strategic advice on unique offerings to set a business apart, and much more.

For all businesses it’s a little different, but there are signs that you’re in a danger zone and need help. These are just a few situations that can benefit from a CFO: 

• Uncertain financial future
• Less than 25% net profit
• Inaccurate reporting of finances from bookkeeping staff
• Desire to grow or expand location(s)
• Need to find cost savings and cut overhead expenses
• Payroll is too high, but staff are needed
• You want a financial safety net for your business, should the economy or demand change
• There is no cash, even though you are profitable

With Ascension CFO, we have a very structured system that we follow to ensure that we perform our analysis and meet with business owners and management at least monthly. Since business owners have questions throughout the month, you can simply email us or schedule a meeting anytime that works for you to go over additional questions, changes, etc. We are your CFO on call during business hours!