1. What is a fractional CFO?
A fractional CFO, as the name implies, is a person who contracts to provide their financial know-how to a company. Fractional or part-time CFOs typically support multiple companies on a short-term basis but bring substantial prior CFO-level experience to the table.
2. What is finance and accounting outsourcing?
Finance and accounting outsourcing is the contracting out of a finance or accounting function that was once performed in-house.
3. How would Silver Square CFO work with our company?
Depending on the need we tailor our services to make sure clients get the best value. Our services range from fractional CFO services to bookkeeping services.
4. How do we start the process with Silver Square CFO?
Finance and accounting outsourcing is the contracting out of a finance or accounting function that was once performed in-house.
5. Can the services be completely virtual?
We tailor our services and offerings based on your company’s needs and wants. We can perform services on a hybrid model or 100% remotely.
6. Does Silver Square CFOs work full-time or part-time?
Most of our engagements are on a part-time basis, however we have the capacity to do full-time work as well. We provide fractional CFO services, controller services and bookkeeping services. Fractional CFO services are also used to support restructuring, M&A, raise capital, negotiations or to provide extra bandwidth to the existing CFO.
7. Does controller and bookkeepers work full-time or part-time?
Our core business model is for small and midsize companies that require permanent part-time services. Typically, these companies either don’t have the volume of work for a full-time person or they don’t have the budget to pay a full-time controller or staff an accounting department. However, many times it is more cost-effective for companies to outsource their entire accounting department to Silver Square CFOs. Based on the need for each client we will allocate the appropriate resources in an affordable way.
8. How do you charge for services and how much does it cost?
Our fees are based upon the time, type of services, complexity, volume, and seniority of staff assigned. Our fees are competitive and is typically less than cost internal staffing costs. Depending on the agreement and workload clients either pay fixed monthly fee for recurring work or fees based on hourly rates. We will work with you to accommodate the payment option that works for you.
9. We have had high turnover in our finance team and are having a difficult time providing management the data needed to run day-to-day operations. How do I know Silver Square CFO is going to address them?
There is no one-size-fit-all solution for businesses, as they are all unique and in most cases very complex. In order to ensure your needs are met, we tailor and customize our services and approach for every client. We work closely with founders/CEOs/senior executives to make sure we deliver results.
10. Why should we consider a fractional CFO?
If you are not satisfied with the way your company is performing and believe growth and profitability is not materializing, maybe you need external expertise to review your operations. You’re likely missing the financial insight to accelerate growth, reduce costs and increase your bottom line. An accountant should provide you with good historical numbers. A CFO provides financial insight to guide your business to increased EBITDA, cash flow and enterprise value.