For many companies, the question about whether or not a full time CFO is necessary is often a question that is overlooked and small companies will rush into hiring an expensive CFO rather than outsourcing the work.
Below are multiple articles related to whether a full time CFO is necessary:
-In Patrick Curtis’s article, titled “Hiring or Outsourcing the CFO: What Makes Most Sense for My Business?, he stresses the importance of the decision to hire or outsource the CFO position. The article explains many of the benefits that come with the utilization of an outsourced CFO.
-For many growing companies, the financial resources are not always readily available to take on a CFO, but a small business owner should not worry about this situation. Peter Daisyme explains three alternatives to a full time CFO in his article, titled “Can’t Afford a Full-Time CFO? Here Are 3 Options to Try.”
-If a business owner reaches the conclusion that they do not need a full time CFO, there is still another decision to be made; whether the business should fill the void with an interim CFO or a Part-time CFO. In Paro’s article, titled “When You Need an Interim CFO vs. a Part-time CFO,” he explains the implications of either decision.
By Peyton Wille, CFO Consulting Partners