Why Outsourcing CFO Services is a Good Thing

Why Outsourcing CFO Services is a Good Thing

Accounting, financing issues, financial strategy, and tax preparation are all business operations that cannot be avoided, regardless of how big or small your company is. Some businesses choose to hire a full-time CFO, but they usually don’t come cheap. So what’s a more cost-effective alternative in need of CFO services? Outsourcing might be your solution.

More and more businesses of all sizes are outsourcing their CFO services. It saves time and money compared to hiring a full-time CFO or trying to do it yourself while juggling your other business responsibilities. By outsourcing your CFO services to a professional CPA firm like Ferguson, Timar & Company, you are essentially getting a “virtual” CFO comprised of multiple accountants and financial experts.

Think of it this way. Do you handle all your legal issues in-house or do you hire an attorney to represent your business? You might partner with vendors who supply specific products and services that you use to support your business offerings. These are outsourced services in the hands of people who specialize in a certain thing. Why not consider having a team of financial specialists working together to serve as your CFO? That’s what you get with Ferguson, Timar & Company.

Here are some of the benefits to consider:
1. Save Money – Outsourced CFO services will generally cost you a lot less than the salary for a full-time CFO on staff.

2. Better Quality
– You know your financial needs are in the hands of multiple experts who are focused on your best interests.

3. More Time
– With your CFO services covered, you and your team can focus more energy on what you do best.

4. Team Approach
– Why hire one CFO when you can have a whole team working for you?

5. Temporary Needs
– Do you need a CFO all year or just for a temporary large project? Outsourced CFO services can be utilized just for the timeframe you need.

6. Consistency
– You don’t have to worry about turnover in your financial department. Your virtual CFO team will always be there and up to speed.

If you are considering outsourcing your CFO services, contact Ferguson, Timar & Company today for a consultation. Let us show you how we can help you get the most out of your financial operations.

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