The role of the Chief Financial Officer (CFO) like those that are from Bramelle Partners can be critical for organisations who have to stay on top of their balance sheet.
This will apply across the commercial spectrum, from local manufacturers to retail shops and high-end real estate agencies – they all need the capacity to have experienced bookkeepers on hand guiding them through the shifts in the market.
That is why it is a serviceable option to outsource the CFO and tap into that experience with immediate effect.
The rationale makes sense given their availability, paving the way for more benefits to be enjoyed by the client.
Easy Tax Management
To outsource the CFO position, a business will immediately be under less stress and concern come tax time. Accountants and managers can accumulate much of their time sifting through receipts, accumulating employee payment statements and ensuring that all of the relevant paperwork checks out for the Australian Tax Office (ATO). Management of tax will only be a small window of approximately a couple of weeks but having this experienced practitioner onboard will mean less interruptions and a more efficient process when handing over these documents and filing the paperwork.
Long-Term Commercial Planning and Strategy
It can be a struggle for commercial entities on a local level to look at the big picture. When dealing with production turnover, couriers, marketing campaigns and commercial affiliates and sponsorships, it can be hard to look beyond the immediate issues that present themselves. To outsource the CFO is to introduce a capacity to engage long-term planning and strategy. From stating the goals and objectives of the brand to establishing a framework for financial sustainability, it is valuable to have someone looking out for future viability and success.
Saving On The Bottom Line
It can be costly to have an internal Chief Financial Officer appointed within an organisation who has limited resources and requirement for a permanent professional. The need to outsource the CFO will be paramount to control the bottom line of the enterprise, using them on a short to medium-term basis where other expenses are cut and areas for growth are invested in. With the advent of new technologies and practices they will run an efficient process to save the business money, making the exercise a smart investment choice.
Immediate Results and Expertise
Without a quality candidate who can fulfill the duty of Chief Financial Officer inside of the organisation, it will be impossible to have that degree of competency, expertise and experience without looking to outsource the CFO. These practitioners already have a career history that can be checked and examined by clients to accesses a calm and knowledgeable operator. This will see immediate results starting to come to fruition as they seek to balance the books, eliminate unwanted costs and negotiate with suppliers and vendors for superior terms. Such a process is both a scientific process and an art form, characteristics that have to be crafted over a number of years in the industry.
Setting Flexible Terms of Agreement
Businesses who eventually come to terms with the need to outsource the CFO can take solace from the fact they are setting the terms. The role can be filled for an internal candidate to take over in the span of 3-6 months, they can be brought aboard to oversee a transition into a future takeover or they can be kept on a rolling contract and act essentially on retainer. The terms of the agreement are flexible given the environment of the open market and the drive in competition for financial expertise, eliminating the risk of investing in a long-term project that is not guaranteed end results.