Why it might be time to engage a CFO

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There is a common misconception out there that a Chief Financial Officer (CFO) is a role only available to the large corporate. However, if you continue to hold this view you could be doing your business a critical injustice. Having the commercial guidance that a CFO can provide to get your business from where you are now to where you want to be is one of the best investments a business owner can make. Nowadays the CFO offering is incredibly flexible and affordable with options ranging from a full time CFO right through to a Virtual CFO solution.

What to do

Firstly, you need to ask yourself whether your business needs the following:

  • More financial expertise to help you boost performance
  • More accurate financial figures
  • Advice on how to get your business to the next level
  • Strategic business advice and guidance
  • Help to implement better financial systems and processes
  • Help to manage your business’ growth and ensure you maintain healthy cash flow
  • Advice and support to undertake a business critical project

Whilst your accountant may be providing sound tax advice and ensuring you are compliance-ready, most SMEs do require a more sophisticated level of advice.

It can be foreign territory engaging such services so it is a wise idea to have a better understanding of what a CFO would start to implement in your business if you decide to go down this path.....

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This article is intended to provide general information only, and is not to be regarded as legal or financial advice. The content is based on current facts, circumstances, and assumptions, and its accuracy may be affected by changes in laws, regulations, or market conditions.  Accordingly, neither Azure Group Pty Ltd nor any member or employee of Azure Group or associated entities, undertakes responsibility arising in any way whatsoever to any persons in respect of this alert or any error or omissions herein, arising through negligence or otherwise howsoever caused. Readers are advised to consult with qualified professionals for advice specific to their situation before taking any action.

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About Author

Michael Derin
Michael Derin

Michael Derin, Azure Group's Founding Partner and Chairman has over 28 years’ experience as a qualified Chartered Accountant within the business and commercial sectors. Michael works across our Technology, Corporate Advisory and CFO operations, managing highly complex projects to success.

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