Actionable, Compliant Decision-Making Abilities

Despite everything that has already been mentioned in this article, perhaps the biggest reason to outsource the responsibilities of your CFO is a need to quickly and efficiently understand the laws, regulations, and reporting structures that are unique to one highly specific geographic region. Regardless of whether this is due to you opening a new branch of your office in a brand-new market or relocating all of your resources entirely, being able to count on a human asset that is aware of established standards and procedures—and of how they might be changing over time based on shifting regulatory concerns and market conditions—is extremely important to quickly find your footing with minimal business disruptions. Capable of laying the groundwork that your company can refine and build upon in the years to come, a fractional CFO can greatly facilitate your entry to complex markets in a way that an in-house executive simply can’t.   

This article has painted a clearer picture of precisely why your business may want to consider hiring a fractional chief financial officer, but we don’t want to leave you with the wrong impression—you should, without a doubt, have a plan in place to eventually hire a full-time CFO dedicated entirely to your business. However, a part-time solution can still add tremendous amounts of value to companies that don’t have the staff, structure or knowledge of local regulations in place to deal with challenging situations. With luck, your outsourced provider can rise to the occasion and build a framework that assures your business of lucrative long-term success.