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FRACTIONAL CFO SERVICES
Mastery Fractional CFO Services operates as fractional CFO for its clients. Services may include:
Process improvement and workflow optimization (using technology, best practices, benchmarking, training, and more)
Goal setting and strategic planning
Project plan management - we'll work with you to implement strategies, monitor the progress, and drive course corrections as required
Budgeting and forecasting
Profit & cashflow coaching and consulting
Financial reports & customized managerial reports (including key performance indicators)
Analyzing, interpreting and reviewing financial data with ownership & management (and providing metrics-driven input & guidance)
Coordinating & communicating with other 3rd parties for tax planning, financial modelling, etc. (e.g. tax accountants, auditors, lawyers, commercial real estate agents)
Oversight of your company's bookkeeping
What is a fractional CFO?
A fractional CFO (Chief Financial Officer), also known as an outsourced CFO, is a financial professional who provides financial management services to a company on a part-time basis. The fractional CFO may work remotely, using technology to communicate with the company's leadership team and financial staff.
The primary role of a fractional CFO is to empower a company with respect to managing its finances, making strategic financial decisions, and optimizing its financial performance.
Fractional CFOs are often engaged by small or medium-sized businesses that do not have the resources to hire a full-time CFO. By engaging a fractional CFO, companies can access high-level financial expertise without incurring the costs associated with a full-time executive position.
How does a fractional CFO help a business owner (and/or its key stakeholders)?
A fractional CFO can be instrumental in helping a business owner navigate financial challenges and drive long-term success. Here are some ways a fractional CFO can support a business owner:
1. Strategic Financial Planning: A fractional CFO collaborates with the business's key stakeholders to develop a strategic financial plan aligned with the company's goals. They analyze the financial landscape, identify growth opportunities, and provide insights to optimize financial resources effectively.
2. Financial Analysis and Reporting: A fractional CFO conducts thorough financial analysis, providing valuable insights into the company's performance, profitability, and cash flow. They generate accurate and timely financial reports, enabling the business owner to make informed decisions based on reliable data.
3. Budgeting and Forecasting: By assisting in budget creation and financial forecasting, a fractional CFO helps the business owner set realistic financial goals and monitor progress. They ensure that resources are allocated efficiently, maximizing profitability and minimizing financial risks.
4. Cash Flow Management: A fractional CFO helps the business owner maintain a healthy cash flow by optimizing working capital, managing accounts payable and receivable, and implementing effective cash flow forecasting strategies. This ensures the business has sufficient funds to meet its operational needs and seize growth opportunities.
5. Risk Management: A fractional CFO assesses and mitigates financial risks, helping the business owner identify potential vulnerabilities and develop risk management strategies. This includes evaluating and implementing internal controls, insurance coverage, and contingency plans to protect the business's financial stability.
6. Financial Decision Support: A fractional CFO serves as a trusted advisor, providing financial expertise to guide the business owner in making critical decisions. They evaluate opportunities, conduct financial due diligence, and offer insights into the financial implications of strategic initiatives.
7. Cost Optimization: By analyzing the business's cost structure, a fractional CFO helps the business owner identify areas of inefficiency and implement cost-saving measures. They can evaluate pricing strategies, vendor contracts, and operational processes to improve profitability and reduce expenses.
8. Financial Strategy and Growth Planning: A fractional CFO works closely with the business owner to develop financial strategies that drive sustainable growth. They provide recommendations on financing options, capital structure, and expansion plans, enabling the business to capitalize on opportunities while managing financial resources effectively.
Overall, a fractional CFO serves as a valuable partner, leveraging their financial expertise to support the business owner in making informed decisions, improving financial performance, and achieving long-term success. They bring strategic insights, objectivity, and financial acumen to the table, empowering the business owner to focus on core operations and strategic initiatives while ensuring financial stability and growth.
At Mastery Fractional CFO Services, we believe in developing long-term mutually beneficial business partnerships, and to that end we provide friendly & supportive communication. Feel free to contact us if you'd like more details about us or our services.
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