What is a Fractional CFO?
If you are a business owner, you know how important it is to have a sound financial strategy and management. However, hiring a full-time Chief Financial Officer (CFO) is expensive and impractical, especially for small and medium-sized businesses. That’s where fractional CFO services come in handy.A fractional CFO (sometimes called an outsourced CFO or virtual CFO) is a financial professional who provides CFO services on a part-time or project basis. Think of them as freelance finance specialists who contract with your business and offer similar services to a regular CFO without long-term, full-time, often expensive commitments.A fractional CFO provides a wide range of advisory services to a company, including financial planning and analysis, risk management, corporate governance, strategic planning, mergers and acquisitions and more.A fractional CFO can work with your business remotely or on-site, whether you prefer and need it. They can also work with your existing financial team or independently, depending on the size and complexity of your business. They can offer strategic financial advice, tactical financial solutions, and implementation.