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A fractional CFO, also called a virtual or outsourced CFO, is an external professional who you can hire on an hourly or subscription basis. Outsourcing the work can help growing companies save time and money if they’re not ready to bring on a full-time CFO.
The chief financial officer (CFO) is the strategic and managerial head of finance, and they can be particularly important partners for founders who don’t have a finance background. The CFO can set and review financial key performance indicators (KPIs), implement best practices, create budgets and forecasts, and help the board and potential investors understand the company’s financial position.
Startups often don’t have the resources or the need to hire a full-time CFO. An outsourced CFO service can help you understand your company’s finances, create custom forecasts, or prepare a fundraising strategy with a limited or one-time engagement.
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