Do you lack detailed financial data critical to making timely and sound business decisions? Karen Stern, partner in charge of BSW Small Business Services, discusses why you might want to consider outsourcing these vital financial processes in this month’s “Financial Fitness” column, as featured in Small Business Monthly.

1. FINANCIAL FITNESS JANUARY 2014
4 Signs You Need a Part-Time CFO
BY KAREN STERN
D
o you lack detailed financial data
critical to making timely and sound
business decisions? If so, you may
want to consider outsourcing these vital
financial processes.
Here are four signs you may need a parttime CFO:
A CFO can help with identifying potential
business risks, such as opening new offices
in areas with high state and local taxes.
With a CFO’s expertise, you can develop
models and budgets to run your business
efficiently and manage it to profitability.
4. You are unable to generate financial
reports required by bankers, suppliers,
shareholders, investors and partners.
1. You don’t have key data about your
cash flow, working capital or a forecast of
liquidity.
A CFO is well-equipped to evaluate offers
and opportunities. He or she can help
A company lives or dies on its flow of
the capitalization or lending process by
information. Expand your team to include
providing the credibility and expertise for
someone who can collect, analyze,
third-party reporting. A CFO can also help
interpret and effectively disseminate these
with evaluating equity transactions and
details.
owner equity protection.
2. No one is closely watching your
For a fraction of the cost for a full-time
expenses.
position, an outsourced CFO can provide
Every dollar saved supports your company’s strategic financial expertise to capitalize
bottom line. Enlist top-level talent focused on opportunities and minimize risk. n
on a proactive approach to cost, including
strategic partnering and make-or-buy
Karen Stern (314-983-1204 or
kstern@bswllc.com) is partner in charge
decisions.
3. You are not aware of economic,
industry and regulatory changes that
could drastically affect your business.
of BSW Small Business Services, which
provides small business tax and accounting
services.
Reprinted by permission of the St. Louis Small Business Monthly