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Is This Your Situation: You're Overwhelmed by Financial Duties


Your small but growing company is ready for the next level: you've built a strong customer base and you are diversifying your markets and revenue sources. Now it's time to upgrade your accounting and finance know-how.

Your first reaction may be to transition from part-time bookkeeping help to a full-time controller. Or, you may decide to retain the bookkeeper in a full-time role to cover the higher volume of accounting work. This approach, however, only increases capacity. It doesn't add sophistication or enhance your accounting capabilities.

Your best bet may be an outsourced chief finance officer (CFO):

  1. You gain expertise earlier in the life of your business. By purchasing fractional CFO services, you gain access to a seasoned CFO expert in the early days of your business.
  2. You avoid building a team that is oversized or poorly configured. Rather than putting constraints on your budget and flexibility by hiring an accounting manager and laying off the bookkeeper, don't risk damaging your company culture and employee morale by letting go of lower-level positions.
  3. You can see the addition of an outsourced CFA as strategic, rather than delaying the hiring of a CFO because it seems like a luxury. You get someone to help you make better decisions, avoid mistakes and overcome challenges today.
  4. You can let an outsourced CFO help you see beyond the compliance function and leverage a strategic management tool.
  5. You will be able to migrate accounting systems and strategies. Are you preparing to apply for bank financing? Your outsourced CFO can advise you on negotiating or evaluating offers, running multiple what-if scenarios to give you the hard data so you can make the right decision.

An outsourced CFO solution may be exactly what you need to clarify your financial situation. Give us a call and we'll review the details and explain how an outsourced CFO can help your company.

Travis  Raml, CPA
Travis Raml CPA & Associates, LLC
(443) 927-9161
10440 Little Patuxent Parkway, Suite 300
Columbia, MD 21044
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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