According to FEMA, 90% of SMEs cannot resume operations within five days of a disaster and will fail within a year. Next, research potential CFO candidates, conduct interviews, and request case studies or client testimonials. Establish clear performance metrics to track the impact of their contributions. Defining clear goals and expectations from the outset enhances the impact of their services, leading to more substantial economic outcomes. Regular updates, scheduled meetings, and collaborative tools can bridge potential gaps. For instance, implementing weekly video conferences and shared digital workspaces fosters real-time collaboration, enhancing the fractional CFO’s integration into ongoing projects.
Is your business prepared for the growing inflation? — Executive Allies
Smith says it allows for more honesty in the early part Accounting for Churches of the working relationship as well. And even if you lowered your cost to $2,500 per month, you’d still bag a professional who’s knee-deep in your business almost every week. For as little as $40,000 to $50,000 per year or $4,000 per month, you can get top-notch insights from a CFO on a weekly cadence. For a deeper dive on SaaS business accounting, check out our Ultimate Guide to SaaS Business Accounting. Cultivating a culture that values collaboration and inclusiveness is vital when integrating a fractional CFO.
Execs Find Flexibility and Development Through Fractional Work
Encourage team-building activities and open communication to income summary build trust and rapport between the fractional CFO and existing staff. Fractional CFOs often bring diverse experiences from working with multiple industries and companies. As of February 2025, the average annual salary for a full-time CFO in the US is approximately $457,885, with total compensation. Contact us today to learn more and discuss all of your accounting needs with a Graphite Financial expert. With a fractional CFO, you’ll always be ready to impress investors and stakeholders. Selling a business can be one of the most transformative and emotionally charged decisions an entrepreneur will ever make.
Action Steps for Businesses Ready to Leverage Fractional CFO Services
Whether you’ve been building it for years or inherited it from family, your business likely holds significant personal value. Fractional CFOs can help with your exit strategy, whether that’s preparing for an IPO, merging with another organization, or selling your company.
Building Strong Management Teams
Assess their communication style, leadership approach, and ability to integrate seamlessly into your team dynamics. In contrast, fractional CFO services offer a more budget-friendly alternative. To ensure that the budget is being followed, the CFO will also need to monitor expenses throughout the year.
Get a strategic edge thanks to real-time SaaS forecasts with variance under 5%. Once again, Sage Intacct outperformed NetSuite in terms of market share among companies with $5 to $100M in ARR. Connolly emphasized the opportunity to bring in talent with experience from the world’s top companies. Fractional leadership might be a more appropriate way to compensate top-tier leaders, who are used to commanding large salaries and equity packages at major companies.
- With special pricing and programs available for early-stage startups, we’ll work with you on all the accounting services that you need to continue to advance your young business.
- As if that were not enough, fractional CFOs also solve compliance and risk management issues.
- They can take your business objectives and come up with a money strategy that will help you reach them.
- Organizations should set precise schedules and response time expectations to maintain workflow continuity.
- And since Sage Intacct is fully automated, you won’t have to expand your finance team to accommodate growth, keeping costs light.
A fractional CFO will ensure that your financials are accurate and delivered on time, so you can make informed decisions faster. Contact Executive Allies today, and let’s blaze a trail to your business’s future success. You’re likely to get the most value from a fractional CFO service before you hit $50M in recurring revenue.