"Failure doesn't mean that you are a failure, it just means you have not succeeded yet"
The difference between an outsourced CFO and a Company Accountant
An outsourced Chief Financial Officer (CFO) is an experienced financial manager who enjoys working with many different companies. The CFO is not just a title for an accountant who is in charge of the department, but they help you identity and manage your financial objectives working closely with management, investors, banks and other stakeholders.
The CFO offers specialised financial analysis and communication and this sets them apart from a company accountant. The right CFO for your business will understand your strategy and work closely with you and your management team to keep you on track.
We are not looking to replace your compnay accountant whose role is focused on transactional accounting and compliance. Your outsourced CFO will provide assistance in setting your strategy, building your business plans (including budgets and forecasts) and keeping management informed about progress through indepth analysis and reporting.
Your outsourced CFO will review your business objectively without the blinkers that come from being involved in the processes. We can identify weaknesses in current systems and suggest improvements to ensure the business runs more efficiently and effectively.
Your company accountant is looking at the past telling you what has happened, whilst your outsourced CFO will be looking forward by projecting, forecasting and planning for growth.
The CFO acts as the visionary for growth and provides critical financial guidance.