Benefits of an Outsourced CFO
Better usage of manager’s time
Liberate managers from huge amounts of detail and proliferation of complex systems that
increase workload and deny time for analysis and reflection.
Creates time to make effective decisions
Breaking free from detail and complexity creates time to provide information that managers
need to make effective decisions.
Spread Knowledge
Teaching and mentoring to spread financial knowledge and decision making capabilities
across the organization.
Technology
Use technology to eliminate low value work and inefficiency, improve controls, and deliver
information in a timely fashion.
Planning
Relieve managers from detailed annual planning and complement targets and budgets
with continuous planning reviews and rolling forecasts that enable managers to sense and
respond more rapidly to unpredictable events and to changing markets and customers.
Waste Management
Focus on cost reduction and eliminating non value added work from all processes.
Performance Guidance
Establish key performance indicators and provide clear guidance about their meaning.
Measurements should relate to purpose and strategy and that enable managers to learn
and improve.
Change Management
Getting buy in, implementing changes and minimizing the inevitable pain and anxiety.
In general, a corporate controller is the manager responsible for a firm’s accounting activities.
In most organizations, the controller is the top managerial and financial accountant. He or she supervises the accounting department and helps management interpret and use information provided by the department.
In a small business, the controller is responsible for many critical functions. He or she often is in charge of finance, accounting, bookkeeping, transaction processing, information management, information technology, human resources, tax planning, and administration of retirement plans and insurance.
And if the company has an internal bookkeeper or accountant, the controller supervises their activities while performing all other accounting-related functions. The controller also acts as a liaison with the company’s outside advisors, including its CPA, bankers, lawyers and other business professionals.
