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Supercharge Your Superannuation & Maximise Your Retirement Savings

Welcome back everyone. In the sixth and final part of my blog series, I want to discuss something that affects all of our financial journeys: Superannuation. Perhaps you’re concerned about your retirement savings? Or maybe uncertain about how to make the most .....

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Business, CFO - 3 min read

What is Outsourced CFO Service?

Have you ever asked yourself the following questions?

  • “The numbers look good to me, but how do I know if I’m profitable?”
  • “Should I take on extra staff?”
  • “Is my business scalable and efficient?”
  • “The numbers don’t seem to be stacking up. Is my finance team performing?” 

If any of these questions sound familiar to you, you might be in the market for CFO services. Small-to-medium-sized businesses can always benefit from the direction and guidance of a CFO, but most of these smaller organisations just can’t afford to pay another executive. 

That’s where outsourced CFO services come into play. So what are they, and how can they help?

 

Outsourced CFO Services Are Like Renting a CFO 

Newer and smaller businesses don’t always have enough work for a full-time CFO, but that doesn’t mean they don’t need access to a CFO’s skills and talents. In fact, when you’re first growing your business, you need CFO services more than ever.

CFO services allow you to leverage the services of your accounting firm or existing finance team. It's a cost-effective solution that allows you to get access to all that a CFO can do, but only to the extent you need it.

 

So What Exactly Could a CFO Do For You?

A CFO is responsible for the financial measurement systems that drive your business. But what exactly could your business gain from outsourcing this finance function? 

A CFO can:

  • measure what matters to your business and analyses financial reporting numbers and trends;
  • let you know when preventative actions are required and help your management to create thorough processes, forecasts, and plans;
  • ensure that your cash flow management is done effectively so that you never run out of cash or need to hastily borrow;
  • report on profitability compared with targets and makes sure you operate with compliance to relevant laws; and
  • liaises with you and the key decision makers and can become a key strategic adviser. 

When business owners don’t have to trouble themselves with financial and management reporting, compliance obligations, budget forecasts, payroll tax claims and other business taxes, and cash flow, they can focus on what they do best. You will not only improve your own business performance but more importantly, be the kind of leader you feel comfortable being, knowing that the financial direction of your business is clear and focused.

Get in touch with us at Altus Financial to learn more about outsourced CFO services and what our experienced professionals can do for you. We look forward to talking with you.

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Could Your Business Benefit from an Outsourced CFO?

Set your business on the right path with this simple guide.

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Prospective Business Owner - Succession Checklist

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Altus Wealth Pty Limited ABN 55 649 956 212 is an Authorised Representative of Altus Financial Services Pty Ltd ABN 24 637 026 825 an Australian Financial Services Licensee (AFSL no. 520266). Altus Financial Services Pty Ltd is not responsible for the advice, products and services provided by Altus Accounting. Julie Azzi is a credit representative (CR No. 366834) of BLSSA Pty Ltd ABN 69 117 651 760 (Australian Credit Licence 391237).