Fractional CFO Services
Services
We are passionate about your success.
As a CPA firm, we have extensive accounting and financial expertise that offers tremendous benefits to our clients. Our fractional CFO services enable you to play to your strengths, focus on what you do best, and let us put our chief financial officer expertise to work for you and your business.
Fractional CFO Services: Rent or Own?
As a business owner or Executive Director, you are often evaluating what assets and resources you need to own versus what makes sense to rent.
Examples include IT support and office cleaning services. You may outsource these services as it makes financial sense versus adding staff and paying salaries, benefits and other overhead costs when you do not need the services on a full-time basis.
We offer outsourced CFO services to businesses and not-for-profit organizations to provide the financial and accounting expertise needed for strategic planning, budgeting, ongoing decision making, and compliance.
Have you outgrown your accounting department?
Organizational growth often brings increased complexity to accounting and financial decisions.
Many of our fractional CFO clients come to us because they have been on a trajectory that has outgrown their organizational structure. They need more expertise, insight and strategic guidance.
An Option that Makes Sense Financially and Organizationally
For most of our clients, having a full-time Chief Financial Officer does not make good financial sense. Though it may not make sense to maintain a qualified CFO on staff on a full-time basis, the organization still needs the expertise a full-time CFO provides at critical times.
Our fractional CFO offering provides our clients the best of both worlds – the expertise of a seasoned CFO, and the affordability of a mid-level accounting team. We will work with you to define the services you need to complement the skills you may have in-house, and fill in the gaps that present business and financial risks if left unfilled.
Our range of Fractional CFO Services includes:
- Bill-pay, and other day-to-day routine accounting tasks
- Forecasting and Analysis including cash flow forecasting
- Key Performance Indicator (KPI) Dashboards
- Audit coordination
- Grant tracking and analysis including revenue recognition (e.g., government and reimbursement grants for not-for-profit engagements)
- Budgeting
How it works:
We work as a team so that the appropriate level of experience and knowledge is performing the various services that can be part of your customized outsourced CFO services. You will have a point person on the team who is a senior LCW CPAs professional who will meet with you and your leadership team for strategic planning and decision-making.
Our team members have the expertise and knowledge, as well extensive industry experience to guide, advise, and be a part of your senior management team.
While our fractional CFO services are aligned with your firm’s specific needs, chief financial officer’s responsibilities typically include the following which we provide as part of our outsourced CFO services for our clients:
- Executive level decision-making and advisory services
- Strategic planning, including setting business direction
- Raising capital or negotiating financing terms
- Working with investors, board members, and C-level executives
- Contract negotiations
- Compensation program design and implementation
- Regulatory compliance
Benefits of Fractional CFO Services
Securing a proven, experienced team to function as your organization’s fractional CFO offers many benefits to our clients including:
- Peace of mind
- Experience from a team seasoned by working with a myriad of clients
- Cost savings
- Integration
- Alignment
- Continuity
Fractional CFO Services — Cash Flow Forecasting
One of the many ongoing challenges of running a business is managing and forecasting cash flow.
Having accurate cash flow forecasting helps a business owner effectively plan and make informed financial decisions.
Benefits of Our Cash Flow Forecasting Services
Our cash flow forecasting services provide the following benefits:
- Identify projected cash shortfalls weeks in advance, enabling time to plan accordingly.
- Enables an improved budget process providing a roadmap for the rest of the year.
- Identifies tasks to be completed by the bookkeeping and accounting functions for a coordinated and integrated effort.
- Prevents a business owner from developing feast-or-famine thinking patterns and brings logic into decisions about the timing of business and capital expenditures.
- Assists in making informed hiring decisions.
- Provides a warning system for a possible default on a loan or payroll payment.
- Detects accounting errors for quicker resolution.
- Enables better planning and improved financial decision-making.
- Enables the ability to incorporate what-if scenarios.
Case Studies
Our ideal clients for whom we are their fractional CFO rely on our insight, analysis, and guidance to make short-term decisions and to confirm long-term strategic direction. We work together on a daily basis as an integral member of the leadership team. Learn more about our fractional CFO services through these two case studies.
– Jim G.
We provide accounting services, tax planning and preparation, audits, reviews, and compilations for individuals and businesses. Our clients are throughout most of eastern Massachusetts, the Merrimack Valley, south down to Woburn, west to Route 495 and east out to the seacoast. In New Hampshire, our clients are throughout Southern New Hampshire including Salem, Nashua, and Manchester, north up to Concord, and east over to the seacoast of New Hampshire.
As a progressive accounting firm, embracing technology to serve our clients effectively and efficiently is a priority to us. We offer consulting services and managed accounting services, including outsourced CFO and bookkeeping services, to businesses throughout the United States.
Why LCW CPAs
We offer many reasons why you should contact us to be your chosen CPA firm.
- We are local. As a local CPA firm, we offer the opportunity to build a working relationship where we get to know you and you get to know us. Maybe this sounds old-fashioned, but to us, it is the best way to work.
- We are progressive. We embrace improving and striving for better ways to help our clients. We utilize technology as an enabler to be more efficient and effective.
- We speak your language. Literally. We have many accountants fluent in multiple languages to best serve our diverse client base.
- We have a long-term view. We look to build relationships over time and seek to work with clients who value the benefits of a productive working relationship. If you are looking to secure a partner in the truest sense of the word, then we may be a great fit.
- We are experienced, credentialed, and knowledgeable. As CPAs, we offer expertise and knowledge to provide thoughtful guidance and advice.
- We offer a superior client experience where in every interaction you will experience our diligence, empathy, responsiveness, and the attention that you deserve. You can count on us to go above and beyond to do the right thing.
- We work with commitment and passion; we believe it is important to be good corporate citizens who are actively engaged in the community; we are especially committed to Gateway Cities including Lawrence to help clients achieve their own American Dream.