Frequently Asked Questions
Your Guide to Outsourced CFOs and Accounting
What Are My Options?
Interim FDs and CFOs
Interim FDs and CFOs can be placed into your business for short-term assignments, such as covering maternity leave or a recruitment gap or focusing on a specific issue, such as restructuring your systems or raising investment.
Outsourced FDs and CFOs
For longer terms requirements, our team will help you find the right finance professionals for your business. One with relevant experience and who can bring a fresh perspective to your company, ensure accurate reporting, and improve business processes.
How Does It Work?
1. Book An Initial Discovery Call.
Speak to a team member to discuss how we’d help support you with your current challenges, your business and your finance team.
2. Personalised Solution
We will create a tailored plan to help you reach your financial goals. If you wish to proceed, we will help you get on board with zero hassle.
3. Ongoing Outsourced CFO and FD Support
A dedicated team member will work alongside your key stakeholders to keep your business finances on track, manage risks and capitalise on growth opportunities.
What does a CFO or FD do?
An in-house CFO or FD is responsible for a business’s budgeting, finances, reporting and financial strategy and has a pivotal role in ensuring that a business safeguards against risk, capitalises on opportunities and remains financially sound.
A CFO or FD works closely with the owner, MD or CEO, and the rest of the finance team (if there is one). The CFO or FD must stand by their views even if they are at odds with the rest of the leadership team. A business needs someone who can offer an unbiased, independent opinion and someone who will challenge the owner.
Is there a difference between a CFO and FD?
In smaller companies, there is little difference between the two. The terms can be used interchangeably, and they are responsible for their companies’ financial management and strategy.
However, in larger businesses, the FD will be accountable for high-level accounting, while the CFO will be responsible for business strategy development and implementation.
What is an interim CFO or FD?
Small businesses and start-ups often can’t afford to employ a CFO or FD full-time, and often, they don’t need to. An interim or part-time CFO is often the best fit for their needs.
Businesses can benefit from a professional with deep financial knowledge and networks for a fraction of the cost of employing one full-time. An interim CFO or FD can provide leadership in a range of areas, including strategy development, investment activities, investor relationships, cash flow management and expansion planning.
Depending on your size and requirements, they will attend all board meetings and may spend a few days a week or a month working in your business.
What is the primary benefit of an outsourced CFO or FD?
Our CFOs and FDs have been cherry-picked for their experience working across various sectors and businesses. One of our key USPs is ensuring that the financial professionals placed in your business bring their knowledge and experience to the table, making their advice more informed, versatile, and flexible than an in-house CFO and FD. In effect, we are empowering and adding value to the finance function.
Our CFOs and FDs have worked with a variety of stakeholders, investors, banks and other professional advisers in their careers– all of which generate a wealth of knowledge and invaluable networks that your business can benefit from.
“CFO Hub has been an invaluable resource for our company. Our CFO and accounting consultant helps keep our books updated and advises me on how to best create our financial forecasts. I’m so glad I get to work with them, I highly recommend them!”