The Part Time CFO: Crunching the Numbers for Corporate Growth
A company's management team comprises three key officers: a chief executive officer (CEO), a chief operations officer (COO), and a chief finance officer (CFO). The CEO implements the rules, the COO initiates activities in accordance with those rules, and the CFO has the duty of managing the company's financial assets and liabilities. When it comes to money matters, the CFO is an indispensable part of any company's executive "dream team."
Every activity a company initiates, business or non-business, runs on money—and the CFO has that job covered. He makes sure the company does not overspend and that the funds are fairly distributed among various corporate activities. He has to think about ways to enhance the income generation of the company, while reducing overhead costs as much as possible. On top of it all, the CFO, naturally, must be a whiz in math.
While some people may only know about the CEO and COO, the CFO can be said as one of the unsung heroes of any company. Without a skilled CFO to manage a company's money, the company will have a hard time deciding how much to spend and on which matters. If the overall activities of a company are in the form of a circle, every chief officer in the team takes an equal slice of the responsibility. The CFO may go unnoticed in public, but his actions keep the company alive.
Just a part time CFO for a company ensures the money spent on hiring one will come back tenfold. Armed with the necessary skill to crunch the numbers, getting a CFO can increase a company's income by as much as 100 percent. He makes the sales reports, financial reports, and other presentations that can influence the management's decision to implement solutions to reported problems. The computation may be burdensome, but nothing the CFO cannot handle.
A professional CFO for hire is also meticulous about making his computations and creating his sales reports. Accuracy is something he cannot afford to lose, especially when the company is depending on him to flourish and go the extra mile to progress. As mentioned previously, in a business, everything runs on money—even hiring a CFO. The CFO closely monitors the flow of money to make sure the money goes where it needs to go.
Perhaps there is no need to repeat the fact that money means everything to a company. The decisions the corporate management makes determines the path the company takes on its journey to evolve into a business empire. A good part time CFO is only one of many things a company will need to achieve such status.
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