Quality advantages when hiring fractional Chief Financial Officer with Sam McQuade in 2023: Startups tend to have more specific needs, like SaaS-based startups. If a CFO hasn’t worked with that specific business model they won’t provide in-depth expertise. Fractional CFOs with startup experience typically work with a variety of startups. Hence, their wide-range industry experience. Fractional CFOs can guide founders through best practices for startup accounting and bookkeeping as well as helping you prepare for any potential risks. For example, the current economic state has businesses tightening their budgets. Without advice from a CFO with startup experience, founders may be unable to fully prepare for this kind of change. Read even more information at Sam McQuade.
When a finance function is focused purely on accounting (performed by a bookkeeper) and financial planning (performed by a controller), a CFO will, in most cases, not be necessary. However, companies at this level may want to consider bringing on a fractional CFO on an interim basis in the event of a takeover or restructuring. Companies should consider engaging a CFO, whether fractional or full-time, when the size and complexity of revenue begin to overburden the existing finance team. This generally occurs at the Series B funding round.
A fractional CFO is often brought into a company to help overcome specific financial challenges such as: Cash flow issues; Low gross margins; High expenses; Outgrown existing systems; Need to make cost cuts; Navigating an audit. Create Forward-Facing Financial Visibility: Fractional CFOs are also helpful in optimizing or implementing more forward-facing financial visibility. While many financial professionals such as bookkeepers, accountants, and controllers are tasked with keeping past and current finances organized and well-documented, a CFO focuses on the future.
Searching to hire your very first CFO or need interim coverage? We offer CFOs for immediate short term objectives and longer term engagements. Flexible with clear pricing so you solve the needs of your business and don’t have to rush into a potentially bad and expensive full time hire. Along with the core services of C-Suite Level Executives in Finance and a contingent of Fractional CFO talent and experienced Intermittent CFO innovators, Panterra Finance services include: international Business – Experts in Global Tax Liabilities and Cash Flow Strategies, investments and planning. Mergers and Acquisitions (M&A) Advisory – Providing valuations as well as independent perspectives on offers and options. Internal Audits – Independent internal auditors with in-depth reports highlighting risks and vulnerabilities. Risk Management – A worldwide footprint enables Panterra Finance to identify risks and opportunities in the new world economy. Compliance Review – Actionable understanding when entering markets with new rules, regulations, laws and international asset allocation decisions.
CFOs usually are responsible for key finance functions which have included broad categories of accounting, treasury, financial planning and analysis (FP&A), controls, compliance, tax, and audit. Going forward towards 2022, the same functions exist, but they are getting more automated, so the CFO can focus more on forward perspectives. Storytelling requires strong emotional intelligence and solid communication skills. Here’s the four key areas the CFO can be messaging: Why & Purpose: Communicating the “Why” is one of the strongest messages the CFO can deliver. It’s not only the reason for the corporate existence, but it’s also very motivational for all the stakeholders. This message should be repeated frequently and consistently to make people feel the genuine purpose.
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.
Strategy and forecasting involves using available data and reports, both internal and external, to advise on areas including product development, market expansion, human capital management, M&A and capital investments. It’s also where structured planning and forecasting exercises, like scenario planning and FP&A, fall. Controllers, treasurers and FP&A analysts are invaluable members of the team, but in all these areas, the buck stops at the CFO’s desk.
The option of working from anywhere in the world is another advantage of a DAO. In a traditional organization, you have to be physically present in order to participate in the organization. With a DAO, you can participate from anywhere in the world. All you need is an internet connection. There are many other examples of DAOs, and there are many different ways in which they can be used. The possibilities are endless, and it is up to the creativity of the developers to come up with new and innovative ways to use them.
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.
The last two to three decades have seen a paradigm shift in the lives of almost everyone. The Internet and the web particularly have given a whole new meaning to the way we communicate and interact with each other. Web1.0 was all about connecting people and devices. Web2.0 was all about connecting people with each other. Recent years have seen the development of Web3.0 which is an entirely different ball game. Web3.0 is all about connecting people with machines and devices to create a more efficient and trustworthy internet. This new web is built on the back of blockchain technology which allows for decentralization, transparency, and security. One of the most exciting applications of this technology is the DAO or decentralized autonomous organization. With everything Web3.0, some concepts are harder to understand than others for now. With increased adoption, they will enter the mainstream sooner.
Includes producing accurate and timely financial statements, management reports and projections, forecasts, budgets and cost models that are all based in economic reality. Such tools enhance management insight and promote proactive management. By identifying the levers that drive performance they can be calibrated to maximize efficiency, lower costs and optimize profit and cash flow. Appropriate financial controls can provide many benefits including accurate financial statements, improved control of company assets and the reduced risk of fraud.
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. See additional information on https://www.crunchbase.com/person/samuel-edwin-mcquade.
