For most of the 20th century, the role of Chief Financial Officer (CFO) as we know it today, did not exist. Financial considerations played a much smaller role in companies than they do now, so there was no reason for them to seek out the strategic advice from their back-office finance team. The “financial manager,” as the position was called, was primarily responsible for creating the budget, bookkeeping, and overseeing tax reporting. Oh! How the world has changed.
Today a CFO’s responsibilities include financial reporting, stewardship of a company’s assets, and ownership of cash management and cashflow. The role is more forward-looking than ever before and has massively expanded into data, strategy, partnerships, and business decision making. It looks nothing like it used to, and all those highly successful companies out there had great CFOs on their journeys. Until more recently it has been unfair that start-ups, growth companies, and SMEs have found it somewhat difficult to access the experienced CFO resource they really needed, perhaps because of cost but also because of lack of CFO interest in their companies.
I operate in the world of professional services and human capital, and I’ve watched numerous young companies in multiple sectors learn by their mistakes. Many of them find a way through, and of course some don’t, but most would have achieved their goals quicker had they had the proper support of an experienced CFO. The world is full of amazing aspirational companies who deserve bona fide counsel. Every young business needs financial advice and support, no matter what size or what stage it is at.
The world has indeed evolved, and the good news is that industry has become ever more open to the concept of part-time CFO service provision. Here at Fusion Consulting Group, we’ve always believed that the right resource will empower your business. In fact, for a long time we’ve been supporting our growth company clients with part-time CFO resource, combining our best technical financial skills with the right kind of style and approach to suit company leaders.
Fusion’s CFO as a Service (CFOaaS) was established to make a difference; specifically, we provide our clients with core financial direction. Our efficient monthly subscription based part-time service helps companies with their financial planning, risk management, reporting, decision making, funding, and exit strategies. We take a flexible approach to align our service with the fluctuating needs of a business and help drive performance. But most importantly, with Fusion’s CFOaaS, clients can access the financial resource they need when they need it.
To use a financial term, the bottom line is that we have had such fun fuelling ambitious companies so that they can achieve their goals. And to use another, take a moment to work out whether your business might profit from a CFO service providing you with intelligence and direction.
If you want to know more about Fusion’s CFOaaS, and understand how you may benefit from it, please do get in touch now.