Top rated benefits to hire a fractional CFO by Sam McQuade: The CFO reports to the CEO but remains one of the key personnel in any company. In the financial industry, it is a high-ranking position, and in other industries, it is usually the third-highest position in a company. People in this role have significant input in the company’s investments, capital structure, and how the company manages its income and expenses. This corporate officer may assist the CEO with forecasting, cost-benefit analysis, and obtaining funding for various initiatives.
In these early years of creating innovations in the corporate C-Suite, Sam McQuade nurtured and created a maverick approach to new finance operations for Stryker as it broke through to the lucrative emerging markets in Central and Eastern Europe (CEE)). While approaching the markets in the growing economies of Poland, Czech Republic, Hungary, Croatia and Romania, Sam McQuade was recognizing the need for Interim and Fractional CFO’s for the avalanche of incubators and startup companies in these underdeveloped economies that were on the cusp of being integrated into modern International Finance systems and markets. Read more details at https://PanterraFinance.com.
The CFO function is evolving at lightspeed. With digital transformation and societal changes, the CFO role is rapidly turning into one of a “Chief Fiduciary Officer”, which is going beyond the traditional financials to look towards the future and lead long term value creation in a world of many unknown risks. Storytelling is a very powerful tool to engage and energize teams about value creation and potential pitfall areas. The traditional path of CFO usually starts with a solid foundation based on technical knowledge and then after about 15 years, the great leaders earn the coveted title.
The key duties of the CFO position vary depending on the size of the organization, its industry and whether it’s a public or private company but generally fall into three broad functional areas: controller, treasury and strategy and forecasting. Organizations may have professionals overseeing some or all of these roles and reporting to the CFO. Controllers run day-to-day accounting and financial operations and often hold a CPA or MBA. They are responsible for creating reports that provide insights into a company’s financial standing, including accounts receivable, accounts payable, inventory and payroll.
Another purpose of a DAO is to automate decision-making. In a traditional organization, decisions are made by a small group of people. This can often lead to delays in decision-making. With a DAO, decisions are made by the code that governs the organization. This makes it much faster and easier to make decisions. In business environments, it frees up space for people to focus on other things. It has opened up opportunities for more decision-makers to get involved in the governance of a DAO. The most notable example is the MakerDAO, which is a decentralized autonomous organization that governs the Dai stablecoin. The MakerDAO has a voting system that allows anyone to participate in the governance of the organization.
The philosophy of “What got you here won’t get you where you want to go” is ever-present in business once past the initial start-up phase. Businesses launch additional products, open new territories, open additional locations, transact in new currencies, and deal with increasing regulatory requirements. These all require more advanced thinking, tools, and techniques. Many bootstrap startups begin with a part-time bookkeeper and simple systems but later find that they cannot sustain additional business growth and complexity. Systems, resources, processes, and strategies must scale in sophistication as a company grows.
Selling your business or looking to buy others? Our experts can lead the deal and make sure that you have a thoughtful ownership transition. We are happy to provide second opinions on valuations as well so you have another perspective and feel better before your close the deal.
Understanding DAO: Now, suppose the same transaction happens on a decentralized network like the Bitcoin network. There is no central entity here. Both parties can interact with each other directly. The product is transferred from A to B, and $100 is transferred from B to A. This transaction is then recorded on a digital ledger which is available to everyone in the network. So there is complete transparency, and everyone knows that the transaction has taken place. This process of recording transactions on a digital ledger is what we call ‘blockchain technology.’ This is not limited to just financial transactions; it can be used to record any kind of transaction. Now that we know what blockchain is, let’s get back to DAO.
A full-time CFO may be a luxury few small businesses can justify. A feasible and recommended alternative to a full-time resource is a fractional CFO. This has the advantage of bringing a senior-level financial expert to the table but at a fraction the cost of a full-time resource. A fractional arrangement can work well indefinitely, and right up until a full-time CFO is needed. By basing key business decisions on relevant and accurate financial information, the business owner can avoid costly mistakes and reduce the risk of loss. Key decisions include those about financing the business, expansion or downsizing, whether to enter a new market or produce a new product; make or buy decisions and capital investments, to name a few.
Looking to hire your very first CFO or wanting only some interim coverage? We offer solution CFOs for urgent very short term projects and longer term engagements. Adaptable with transparent pricing so you solve the needs of your business and don’t have to get into a potentially bad and costly full time hire. In disrupting the traditional contracted title of CFO, Panterra Finance innovatively offers all its clients thought leadership based on international financial market experiences. Panterra Finance offers a unified international approach to businesses in the Americas, Europe, Asia, and Africa. Eight centrally located offices in the USA, Switzerland, the Middle East, and the emerging African Continent, offers global enterprises Fractional and Interim CFO services backed by a team with a grasp of dynamic world trends. Read even more info on Sam McQuade CFO of Panterra Finance.