Rose Report: Issue 44

Post Pandemic Recovery: The Critical Role of a CFO

Chief Financial Officer

By Ted Rose, CEO Rose Financial Solutions

The financial impact of COVID-19 on businesses can’t be overstated. The past year has been rollercoaster ride for many businesses with unpredictable dips, turns, and pivots. In fact, a 2020 survey of nearly 6,000 small business owners found that the median business with more than $10,000 in monthly expenses had only about two weeks of cash on hand at the time of the survey. Recovering from this financial fragility requires a clear understanding of your business goals as well as transformative strategies that cut costs, boost productivity, and guide you to achieve your targeted objectives for 2021 and beyond.

As we emerge from the pandemic and start a return to “business as usual,” the role of a Chief Financial Officer (CFO) has never been more critical. Strong financial leadership plays a central role in overcoming business obstacles in uncertain times. While most small business CEOs realize the importance of a CFO in reaching their financial goals, many do not have the resources to hire a full-time employee for the position. When a company needs high-level, CFO support, fractional financial management is often an excellent solution.

When Should You Consider Fractional CFO Services?

A few characteristics often define organizations in need of professional financial assistance:

  • You do not have the budget to hire a full-time CFO
  • You lack the expertise to navigate complex financial issues
  • You need to increase profitability
  • You require in-depth financial reporting and analysis
  • Your financial processes are inefficient
  • You are preparing for a significant business change, such as a merger or acquisition
  • You have high transaction rates
  • You do not fully understand cash flow and cash forecasting

 Why Consider Finance as a Service?

In these challenging economic times, many CEOs are wondering how they can reduce costs, increase productivity, and obtain financial clarity without having to invest in an expensive accounting system or hiring a CFO. Fortunately, there is a paradigm shift in the finance and accounting outsourcing industry towards Finance as a Service (FaaS), a scalable solution that provides a combination of technology and high-value support, including financial management and strategic guidance.

At Rose Financial Solutions (RFS), we focus on being your trusted advisor and helping you succeed in your own mission through strategic financial management. Going beyond traditional accounting outsourcing, our FaaS solution combines our cutting-edge technology platform, Easby™ powered by RFSWorkflow™, and our team of experienced finance, accounting, tax, and HR professionals.

Advantages of our cost-effective and scalable solution:

  • Provides meaningful, timely, and accurate financial information
  • Delivers the guidance you need to make better business decisions
  • Helps you improve your financial performance
  • Gives you time to focus on growing your company
  • Eliminates the need to recruit and train accounting and finance staff
  • Reduces stress and sleepless nights with the knowledge that an industry leader manages your finance and accounting functions

The path to greater business success is paved with financial clarity, and it is required for your company to reach its full potential. With the best people, best practices, and best processes in place, we ensure you have a cost-effective and scalable financial infrastructure that provides meaningful financial information and guidance that is timely and accurate—while minimizing compliance related risks. Through our CFO and financial management services, you will gain the business intelligence you need to get back to “business as usual” with the ability to make confident decisions that lead to better financial performance and greater achievements.

Contact us for more information on how our fractional CFO services can help you reach your business goals in 2021 and beyond.