A fractional CFO is an experienced finance professional who brings extensive business management expertise to a small or medium sized company on a part-time or project basis. Hiring one at the right time can add significant long-lasting value to a business.

Accounting services are essential for most businesses, however, not every business is in a position to hire a full-time accountant. While a business owner might be inclined to pour over accounting books and take on these tasks themselves, this is not always the most efficient use of their time, and making mistakes in accounting can cause messy and financially devastating errors. Fractional accountants allow business owners to focus on what they do best and provide expert help to keep their business on track, done correctly the first time.

• iThinQ Consulting will work with management to create a budget that aligns with the organization’s strategic goals
• Create scenarios using realistic assumptions to counter uncertainty
• Use a zero-based budgeting technique to encourage rethinking of all budgetary items
• Provide a Budget vs Actual analysis report monthly

Each industry is different, so KPIs will differ by industry. iThinQ Consulting will work with you to determine the most important KPIs to track, and help create a system for measuring and reporting them. Some metrics we have created for clients to track are

• Daily Volume of Activity by Category Chart, such as trip counts (taken vs lost)
• Daily Utilization Performance Graphs
• Current Year vs Prior Year Sales Transaction by day by category

Fractional CFO services, like most executive services, vary based on a company’s industry, stage of growth, and goals. While the services themselves will be modified to your company’s particular needs, one commonality is that a fractional CFO’s primary goal is to maximize the company’s profitability and growth potential, to improve operations, and to establish a game plan for enhanced and sustainable growth.

• Expert financial strategy
• Establishing a solid financial foundation
• Assistance with short-term and long-term forecasting
• Aid in managing growth
• Provide support with audits
• Offer strategic financial advice and planning
• Training and mentoring finance and accounting staff
• Manage company’s risk management and compliance
• Strategizing with management and providing financial expertise
• Annual budgeting
• Monthly budget vs actual analysis reporting
• Maintaining relationships with banks and lenders
• Establishing and managing key performance indicators
• Ad Hoc reporting