A Trend To Look Out for – Outsourced CFO Services

by Ashwini Vasudeva

Outsourcing your CFO services is an excellent strategy that will help you stay laser-focused on building and growing your business. By delegating the pivotal role of a CFO to an outsourced firm, you are free to redirect your time and attention to expanding your business and increasing revenue.

The outsourcing CFO business model has become widely popular in recent years and the advantages to the businesses are huge, due to its focused strategies, time efficient advice, cost-effectiveness, and reduced overheads.

What are the benefits of Hiring an Outsourced CFO Advisor?

  1. An in-house CFO’s annual salary can easily exceed six figures, which can throw a wrench into most small and medium-sized companies’ budgets.
  2. A CFO advisory firm will “think outside the box” and bring a new perspective. For e.g., implementing tax-saving strategies to increase cash flow.
  3. An expert CFO advisory team can help bring the house in order – conduct risk assessments, ensure tax compliance, detect red flags in your accounting systems, and enhance your financial management.
  4. A fractional CFO advisor provides many strategic financial services that the inhouse finance team is unable to deliver.

What are some of the strategic services a CFO Advisor provides?

  1. Smart Financial Dashboards for Strong Cash Flow – A CFO expert can help set up monthly financial analysis and KPI Dashboards to ensure you get complete visibility into the business. Your Financial Dashboard will give you an accurate picture of what is draining your resources and what’s pumping oxygen into your organization. Keeping track of your KPIs will help you make smart data-driven decisions, enhance organizational performance, and guide you on how to allocate resources more effectively.
  2. Tax Strategies like Employee Retention Tax Credit (ERTC) – An expert CFO team can advise you to utilize right tax-saving strategies. Recently, ERTC served to benefit a lot of organizations by claiming credits rightfully theirs and avail the influx of funds when most needed. Businesses can claim up to the maximum credit of $26,000 per employee. But there are complexities involved in filling the ERTC claim. For e.g., there is a possibility that your company can claim both R&D Tax Credit and ERTC claim. At Astute, we have delivered a 100% success rate in filing applications and helped businesses claim up to $5M in approved credit.
  3. Budgeting and Forecasting to Achieve Targets – Budgeting is a tool of predicting your future profitability and liquidity with the help of your past performances. Accurate forecasting needs financial expertise and also updates on varied industries, economic trends and a keen eye to predict financial performances. A CFO Advisor can see through the haze and serve as a guiding light for what is leading to growth and what may be hindering it.

If you lack the resources to commit to hiring a full-time CFO – yet need this invaluable expertise – give us a call. With our rich blend of experience and strong technology solutions, Astute can provide you with value-driven CFO Advisory Services.


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