Fractional CFO Consulting: A Solution For Growing Businesses

Most large-scale corporations operate with a C-level suite that includes a Chief Financial Officer, or CFO. However, smaller, locally-owned businesses don’t necessarily have the budget for this type of expert, or just haven’t matured that far. Hiring a CFO may cost more than it is worth, especially when starting. But, having someone fill the role of advising and financial guide with your business’ best interests in mind is something that’s always going to have measurable benefits.

Fractional CFO Services For Small Businesses And Startups

There’s a trend in businesses without financial officers to outsource the position of CFO, temporarily or semi-permanently. This person can temporarily fill in the gap while your business grows, and is called a Fractional CFO. A CFO provides you with the expertise and financial insights you need without dragging down your bottom line, and now this can be done virtually with no downside. Outsourced CFO services are here to stay.

At Remote Quality Bookkeeping, we understand that your business may require CFO-level expertise before it is ready for a full-time CFO. Hence, we’d like to offer our Fractional CFO Service for your consideration. Put our team of seasoned accounting professionals to work for you. MyRQB’s fractional CFO consulting lets you access highly qualified experts with the industry-specific experience your business needs. 

The best part? You pay a small monthly fee on a contractual basis, then move on when our virtual CFO no longer matches the needs of your business.

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Let Us Guide Your Company’s Financial Strategy With the Best Virtual CFO Services

Strategic Budgeting and Financial Planning

Strategic Budgeting and Financial Planning

Our expert accountants provide fractional CFO consulting for a variety of businesses. We know how to evaluate any company’s ledger and other records so they can provide insights that may help you revamp your budget, plan ahead, and financially thrive.

Personally-Tailored Financial Records

Personally-Tailored Financial Records

We know that no two companies are alike, thanks to our years of experience with small businesses. As virtual CFOs, we approach each company with fresh eyes. This requires us to create carefully tailored records that provide an accurate financial picture.

Honest Evaluations Each Month or Quarter

Honest Evaluations Each Month or Quarter

Our virtual CFO services include meetings, meaning you can invite us to review key metrics and ratios with your board of directors or other invested parties monthly or quarterly. Our detailed, actionable evaluations will help shape your company’s future.

What Our Clients Say

Floor Works Inc Client Logo
Floor Works Inc.
Monique Meau, President

“We have known Mark Kilduff, of Remote Quality Bookkeeping , for several years and we would recommend his services to anyone in need of help with their bookkeeping. They are always there when you need them and they are honest and trustworthy.”

Lighthouse Electrical Contracting Client Logo
Lighthouse Electrical Contracting, Boston, MA
Ivy White, Director

“I have been working with Mark and his team for over six years now and have never been disappointed. Their service is prompt and is always suggesting new ways to streamline, which has saved money to our company.”

Fractional CFO Services Frequently Asked Questions

A Fractional CFO, often referred to as a part-time CFO, is a specialized financial expert who collaborates with your small business on a flexible, as-needed basis. Unlike a full-time, in-house CFO, a fractional CFO is contracted to provide their expertise and strategic financial guidance. Fractional CFOs can be outsourced, meaning they do not have to be present in your office or workspace to be effective. This is especially true of entirely online businesses. You can think of them as either a consultant, or the de facto CFO of your business.

Both full-time and fractional CFOs play a similar role in advising leadership teams, addressing financial challenges, and optimizing a company’s financial performance. However, the key distinction lies in their time commitment and contractual relationship. A full-time CFO works exclusively for the company, demanding salary and benefits, which is often more suitable for larger companies. In contrast, a fractional CFO offers services tailored to your needs without the expenses associated with a full-time hire. CFO consultant service like ours can definitely be less of a pull on resources and finances than a salaried employee.

Small businesses seek fractional CFO services for various reasons. You may require CFO expertise but need more money for a full-time hire. Alternatively, you might need someone with extensive experience beyond your budget’s reach. Fractional CFOs are also valuable for specific projects, interim roles, or providing financial guidance during transitional periods. They assist in making strategic financial decisions, improving cash flow, streamlining processes, and supporting growth initiatives. A Fractional CFO can also act as a second opinion and support to any Chief Financial Officer that may need some specific guidance as they grow in their role or become accustomed to your business.

Fractional CFOs are instrumental in fostering business growth. They analyze your financial situation, develop growth-oriented strategies, and implement efficient accounting systems and processes. They convert data into actionable insights for informed decision-making within your organization and for external stakeholders like investors and lenders. In times of challenges, such as cash flow issues or high expenses, a CFO helps navigate obstacles, manage revenue effectively, and create long-term growth plans. They focus on the future, generating forecasts and guiding your business toward its short and long-term goals.

Remote Quality Bookkeeping Services

Ready to streamline your accounting and payroll processes? Look no further than our professional outsourced accounting and payroll services company! Our dedicated team in Wells, Maine provides cost-effective, efficient, and accurate services for small businesses and franchises nationwide.