THE FREELANCE CFO
An Outsourced Solution
“Outsourced Chief Financial Officers (CFOs) have a bigger role than accountants, who mainly keep track of the company’s books. They work with business owners to manage their finance departments, connect them with business sources that can help them grow and provide financial data to help make strategic long-term or day-to- day decisions.”
THE WALL STREET JOURNAL
Value Proposition
Why hire The Freelance CFO?
The role of a Chief Financial Officer (CFO) holds significant importance. Not only are CFO’s highly skilled individuals with years of experience, they’re also professional. The CFO serves as a key executive who oversees the financial operations and strategies of your organization. As a small to medium business owner, you wear multiple hats, and one of them is taking charge of your company's financial health. This is where The Freelance CFO comes into play. A CFO is responsible for managing your financial planning, budgeting, and reporting processes. Cash flow management, financial risk assessment, and maintaining relationships with investors and financial institutions are other aspects overseen by a CFO. By collaborating closely with your management team, the CFO ensures that your financial decisions align with the overall goals and objectives of your small business. Although you may not have a dedicated CFO, understanding the significance of this role empowers you to make informed financial decisions and manage your finances effectively. The Freelance CFO provides the services of a CFO on an outsourced basis with the following benefits.
Cost Efficacy
Employing a full-time CFO can be financially burdensome for a small or medium business, considering the salary, benefits, and overhead costs associated with a permanent position. On the other hand, hiring a freelance CFO allows the business to access high-level financial expertise on a part-time or project basis, providing cost savings without compromising the quality of financial management.
Flexibility
Employment of full time staff often results in valuable (and expensive) resources being idle at times. That idle time costs money. Freelance CFOs offer flexibility in terms of assignment duration and scope of work. Small and medium businesses can engage a freelance CFO during crucial periods such as budgeting, month-end reporting, or strategic planning. This flexibility allows businesses to scale up or down their financial support as needed, aligning with their specific requirements and budget constraints. Assignments and tasks are negotiated, and deliverables agreed upon. Once completed, the CFO moves on until your next assignment.
Expertise
Freelance CFOs typically have extensive experience and expertise in financial management, gained from working with various companies and industries. They bring a deep understanding of financial best practices and can provide valuable insights and guidance tailored to the specific needs of a small business.
Strategic Guidance
A freelance CFO can provide valuable strategic guidance beyond day-to-day financial tasks. They can help identify growth opportunities, assess financial risks, and develop financial strategies aligned with the business goals. Their expertise can contribute to effective decision-making, financial planning, and optimizing the financial health of the business. In summary, hiring a freelance CFO enables a small business to access specialized financial expertise, cost-effectively manage financial functions, receive strategic guidance, and tap into valuable networks. These advantages can help drive financial success, improve decision-making, and enhance the overall financial health of the business.
Allow THE FREELANCE CFO to relieve you, the business owner, of key finance functions and free up your time to run your business.
Each organization is unique with its unique set of requirements when it comes to hiring an outsourced CFO.
Allow THE FREELANCE CFO to provide a tailor-made solution to meet your requirements and put you on the path to increased profitability and financial well-being.
FIXED TERM ENGAGEMENTS
Should your business require a CFO on a regular basis for whatever reason you deem necessary, a solution would be proposed and a retainer for the required monthly hours/days would be negotiated.
No long term contracts are entered into, but a reasonable cancellation period is required.
Typical services offered:
• Oversight of the financial department
• Cost analysis & review
• Implementation of budgets, forecasts and review
• Monthly management reporting
• Assistance with Cash flow management
• Interaction with 3rd party institutions
PROJECTS AND ASSIGNMENTS
Whether you need to raise capital funding, purchase new equipment, prepare for an annual audit, provide covenant reports to financial institutions or you are considering an equity transaction, a solution is available.
Dependant on the size of the assignment an hourly rate could be negotiated or a fixed price could be arranged.
Typical services offered:
• Business plan development
• Financial modelling
• Motivational forecasts, projections/ budgets
• Audit preparation & assistance on complex statutory issues
• Process & control environment assessments
• Tender & proposal preparations
Hiring THE FREELANCE CFO is the next step to growing your business and ensuring your financial model is aligned to your business strategy.
CFO SERVICES
FINANCIAL MANAGEMENT
Oversight & Review of the Finance Department • Financial Analysis & Cost-restructuring • Review of Monthly Performance • Third Party Institutional interactions
REPORTING & ANALYSIS
Monthly Management Reports • KPI's & Performance metrics • Board Material preparation • Finance Covenant obligations
BUDGETING & FORECASTING
Monthly, Quarterly & Annual Forecasts for Cash Flow + Profit & Loss • Monitoring Actual versus Budget • Remedy for Forecast Variances
PROJECTS & ASSIGNMENTS
Compilation of Financial Statements • Due Diligence • Capital Expansion • Tenders & Estimates
FINANCIAL MODELLING
Asset Finance • Fund Raising • Mergers, Acquisitions & Valuations • Buy vs Lease decisions
CASH FLOW OPTIMIZATION
Working Capital Management • Cash flow forecasting • Cost Analysis
PROCESS & CONTROL ASSESSMENT
Risk Assessment • Systems Review • Process Flow optimization
TRANSACTIONAL SUPPORT
Capital Acquisition • Annual Statutory Audit • Mergers & Acquisitions
Allow THE FREELANCE CFO to relieve you, the business owner, of key finance functions and free up your time to run your business.
Accounting services
ACCOUNTING SERVICES
Monthly transaction processing • Account Reconciliations • Monthly Reporting • Annual Financial Statement Preparation
COMPLIANCE
Preparation & Submission of VAT Returns • Preparation & Submission of PAYE Returns • Bi-annual PAYE /IRP5 reconciliations • VAT & PAYE registrations
TAXATION
Annual Income Tax Return Compilation & Submission (Individual & Corporate) • Provisional Tax Return Compilation & Submission (Individual & Corporate) • Tax Clearance Certificates • Tax Directives • Income Tax Registrations • SARS Correspondence
STATUTORY & SECRETARIAL
Registration of New Companies • Annual Return Submissions • Completion & Submission of CIPC Documents for any Company changes
Hiring THE FREELANCE CFO is the next step to growing your business and ensuring your financial model is aligned to your business strategy.
The Founder
Allow THE FREELANCE CFO to relieve you, the business owner, of key finance functions and free up your time to run your business.
Blogs
Freelancing at work for you
Hiring THE FREELANCE CFO is the next step to growing your business and ensuring your financial model is aligned to your business strategy.
Contact
- Sandton, Gauteng, South Africa