It is common for companies not to employ a CFO. In our experience, growing privately owned businesses don’t always have the need for a full-time CFO, but require the services of someone to fill this role on an interim or part-time basis. Instead of spending anywhere from $180-$300,000 per annum (or more) on salary, Balanz offers this service on an “as needs” basis.
Our CFO Services
Clients who use our interim CFO services typically:
- Are family owned, growing, and with revenues between $10 million and $100 million;
- Lack internal systems and need assistance with monthly/quarterly management reporting and budgeting;
- Require help with overall financial management including cash flow management, banking (compliance, relationship management) and capital structuring; and
- Benefit from our financial analysis and modelling skills.
In many cases a growing company tends to outgrow its systems. Through its CFO services, Balanz Advisory assists in building the “platform” that enables the company to grow to the next level and beyond.
Depending on the complexity of the business and the work to be done, we generally have a management reporting and budgeting process up and running within 3 to 6 months.
We also assist with the review and implementation of internal financial processes and we develop specific tailored financial analysis tools including product costing, project budgeting and dashboards.
Where required, we work closely with your external accountant to create a seamless service.
Financial Training and Recruitment
Balanz also assists with recruitment or placement of new finance and admin staff including bookkeepers, financial controllers and full-time CFO’s to strengthen the internal team.