Why should you hire a shared CFO ? Please find few factors below:
1. One Person vs Team Shared: CFO services comes with a well-rounded complementary and highly experienced team of CFO, CAs/MBAs can achieve much more than a Lone CFO hired in an SME
2. CFO Institution: The engagement CFO Partner is backed by team of many diverse CFO Partners and 25+ other resources. Collective & diverse experience of large CFO team leads to best used & most practical solutions. Cross pollination of best practices in the Industry
3. Cost Savings: The cost of a shared CFO team is significantly lower than a single Full time CFO
4. Plug & Play: Shared CFO team can be hired for specific duration & for specific time, plug and play. We have proven ability to turn around quality and right fit resource very quickly. Business can increase/decrease resources on demand truly.
5. Zero Maintenance Cost: Inhouse team has multiple additional expenses, like training, development etc. whereas shared CFO team is top quality and does not require any training Also with CFO Bridge, client need not worry about managing career expectations of finance talent.
6. Continuity Assured: CFO Bridge assures continuity – even if there is any disruption of a team member – including the CFO Partner. In case of in-house CFO Retention can be a major challenge for SMEs. Outsourced CFO service avoids replacement costs both in terms of time and money
7. Vast Network: Get connected to most relevant consultant, banker, investor for your other work through vast network of CFO services provider
8. Bias minimized / No internal politics, rivalries: A shared CFO team being external is free of most biases which arises from internal team dynamics
9. Quality Talent: Quality finance talent is always attracted to MNCs due to better pay & bigger brand acknowledgement. Shared CFO teams can attract such talent & make them work for SMEs
10. Strategic inputs / Business Partner: CFO services with a team of experienced CFOs provide strategic insights not limited to F&A function.