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What are the benefits of hiring an interim CFO?
Interim CFO’s provide experience in a way that makes sense for your business. Experienced /
Interim CFO’s will seamlessly manage complex financial and operational issues at a far lower
cost than hiring executives in-house. Their experience provides the ability to develop robust
financial strategies for the business and implement systems and processes needed for a solid financial future. One of the biggest mistakes small and startup businesses make is hiring full-time staff when there is neither a budget nor a need at that stage of their business life cycle.
What does a BMCA CFO offer?
There are multiple offerings an outsourced CFO provides and finding the right one can make or break your success. These services include but are not limited to the following:
Strategic Financial Planning
Equity / Debt Fundraising
Operations and Cash Forecasting
Preparing Business Plans and Investor Presentations
Preparing Board Presentations
Cap Table Management
Managing an Exit Strategy
Internal Controls Assessment / Implementation
Governance & Compliance
Acquisition Due Diligence
Finance / ERP Software Selection
Tax Strategies
We bring financial visibility into your startup and small business which equips you with the tools to make financially responsible business decisions. We create process and procedure that gives you real-time financial visibility; and accurate, timely, insightful and relevant financial information. Making sure your financial house is in order from the beginning establishes the needed foundation to help scale the business.
What if I have a CFO but we aren’t making any progress?
BMCA CFO services are equipped to work alongside your current CFO in an advisory capacity. Sometimes we all need a little extra help. We don’t want to come in and replace your CFO. We want to set you up for success with guidance from our years of experience.
Having someone on your team with experience and expertise to get your financial plan
organized and on track is worth its weight in gold. Interim CFOs have the right understanding, knowledge and to maneuver your business through regulations, GAAP interpretations, policy, and procedure so that you can avoid costly mistakes down the road.
BMCA thrives doing the start-up work required to assure a solid business foundation. We are
experts at creating unique client-specific models for startups during all stages of funding. Our years of training in designing accounting and reporting systems greatly increase owners and managers ability to stay on task and on track. The addition of interim experienced CFO’s only adds to this process.
Are Outsourced or Interim CFOs expensive?
Our outsourced CFO’s provide a cost-effective way for businesses to grow. We grow alongside you in whatever sized capacity your business needs. Not only does this solution allow your company to be cost-effective, more importantly it provides necessary experience and leadership on an as-needed or fractional basis.
How do I know whether to hire in-house or outsource?
When future projections and financial strategies are needed, the CFO is your trusted advisor. As a member of the Executive Team, the CFO is responsible for managing all aspects of the
business, be a trusted advisor to the Founder / CEO, and help align the financial strategy to
achieve corporate goals.
It’s a catch 22 right?
You need and want the professional guidance of a seasoned CFO. Yet you don’t want to make the wrong choice and end up having to search all over again.
The best option is to consult with reputable firms like BMCA that have CFOs with impeccable records. These experts come in, take care of business, and then, when appropriate, they are transitioning your new CFO on board or guiding you through acquisition.
Having a trusted advisor on your team is vital for success.