importance of a CFO

The Importance Of a CFO in a Small Business

In recent years, Chief Financial Officers, or CFOs, have been stepping out from behind their desks and playing a more influential role in company processes. The importance of a CFO in today’s tight and competitive environments is obvious. All companies need strong, reliable financial management.

Having a CFO is a clever way to get expert advice on financial and operational aspects of your business. Hiring a CFO could help you launch your company into new areas and give your company a new perspective. As an owner, you will feel secure and confident knowing that you have another executive besides you, weighing the risks and rewards of your company.

There are many reasons why a business needs a CFO, read some of our favorites are below:

1. You aren’t getting the profit that you should be.
If you are managing a business that is not making a good profit, you may need to look into hiring a CFO. A CFO will have the business and financial knowledge to turn your time into cash!
2. You are unsure of your financial position.
Sometimes, and for some people, talking numbers and accounting is like hearing another language. A CFO is a great middle man that will be able to act as a translator to help you understand what is going on with your books and help you know what your financial state is.

3. It feels like you can’t keep up with the technology.
Other than making sure that your finances are running smoothly, it is also a CFO’s job to make sure your business is utilizing new technologies in the best way. Staying up to date on new technology will help your company stay relevant and competitive.

Do you know where your business is heading? To learn more about how we can simplify your accounting process, call us at 727.828.9945 to schedule your free consultation.

About Accounting & Business Partners

Accounting & Business Partners is a CPA firm with an accurate, consistent and timely bookkeeping, payroll and tax departments. We believe that success lies in numbers. However, the drive behind the numbers is what truly matters. That’s why we look beyond the financial statements.

Accounting & Business Partners Team