Fractional Controller Services
Increasingly, smaller, mid-sized, and start-up companies are choosing to hire a fractional controller to enhance their management team. Hiring a Fractional CFO or Controller can be a strategically smart risk management investment. A fractional CFO can help identify and discuss mitigation for all types of risks by working with your leadership to assess your company’s current status, identify specific areas of concern, and advise on policies and practices you can implement to reduce risk
Navigate the complexities of business finance with a dedicated Fractional CFO by your side. Benefit from tailored strategies, in-depth financial analysis, and expert advice, ensuring your business remains agile, profitable, and poised for sustainable growth.
How a Fractional CFO or Controller can Enhance Business Growth
Perhaps the biggest advantage of fractional support is not having to take on another FTE yet still getting a strategic advisor who can address multiple issues over their engagement with your company. D&A CPAs CFO brings the same skills as their full-time counterparts, plus you get the added benefit of their historical knowledge gained working with other clients and industries. You can lean on them for help with:
- Monthly/Quarterly Accounting and Bookkeeping
- Financial statement preparation
- Bank & Credit Card Reconciliations
- Accounts Receivable & Accounts Payable Management
- Regular Financial Statement Review & Analysis
- Key Performance Indicator (KPI) Implementation & Management
- Risk assessment and mitigation
Why Hire a Fractional Controller
There may be many things that aren’t getting done or being addressed properly. Fractional accounting support brings in an expert to handle those issues. While they’re there, they may find additional things that require attention, and they can address those as well. So you’re getting added value, efficiently
Once you know you need a CFO, the choice of full-time or fractional becomes a cost/benefit decision. But there are also ramifications related to your company’s bigger picture. Hiring a fractional CFO provides most of the benefits while avoiding certain situations.
Cost/flexibility
You get most of the same advice and direction without the higher price tag. Often in smaller entities, there simply isn’t enough work to keep a CFO busy full time. A fractional engagement won’t create the long-term liability typically associated with a permanent FTE position. And you retain options for different staffing directions in the finance area.
CEO productivity
A CFO, full-time or fractional, enhances CEO productivity. Your CEO can spend less time on finance and reporting matters, banking, insurance, and legal contracts. They can leverage the CFO’s experience to help with strategic and tactical planning and use the CFO as a peer sounding board to talk through issues.
Stakeholder confidence
Hiring a fractional CFO brings top-level knowledge and oversight. Owners, management, employees, bankers, customers, and the company overall can benefit from hands-on collaboration with the Fractional CFO.
They also reinforce financial integrity. Separation of duties strengthens internal controls and reduces opportunities for fraud. Plus, you can gain a deeper understanding of what is driving revenue, accurately forecast revenues, future investment needs, and related ROI, and tell your story more convincingly to potential suitors and/or investors