Tampa Part Time CFO | Fractional CFO
A lot of companies have bookkeepers or accountants. But CFO’s are usually only found at larger companies with greater than $100 Million annual sales. This is because true CFO talent is very expensive. Smaller companies cannot justify maintain a full time CFO. That is why PBI provides Fractional or Part Time CFO’s that can work between a few days a week or a few days a quarter, depending on your needs.
At the beginning of an engagement, your fractional CFO may spend many days on site. Then after some traction is gained, and a clear vision for your future is established, your fractional CFO may only be needed a couple days a month or quarter with your company. It’s entirely up to you and your company’s needs.
As a fractional CFO, we ensure that your financial reporting is correct and on time. We also ensure that you have the proper procedures in place to help prevent fraud, waste and abuse of your company’s assets. We get into the operations to help identify cost savings and revenue enhancements to make your company more profitable. We develop business plans and negotiate with your bankers or lenders to ensure that you get the capital you need at the lowest cost. Lastly, we work with your CPA’s and Attorney’s to ensure that they can do their jobs efficiently for you.
Typical Engagement: 60, 90 or 180 day engagement.
- Identify immediate needs or concerns.
- Depending on immediate and long-term needs we may or may not conduct the following:
- Review financial statements and accounting processes
- Operational processes review & meetings with key personnel
- Review of IT systems and meeting with IT personnel
- Review of cost accounting
- Banking relations meetings
- Tax / CPA and Attorney meetings
- Fix Financial Accounting / Cost Accounting reports.
- Develop standard reports, Key Performance Indicators, due dates, reporting responsibilities.
- Kick-off operational changes and process improvements
- Develop budgets and short-term business plan and capital budgets.
- Negotiate with bankers or venture capitalist to reduce borrowing costs and increase growth capital.
- Evaluate capital expenditures, performance against goals and perform spot audits.