With the Part-time CFO model, you can engage a seasoned CFO on a flexible part-time basis – a day or two a week, once a month, or as often as needed – at a cost you can afford.
Serving as an ongoing member of your management team, your Dearborn LaSalle Advisors CFO will work hands-on to move your business forward, both financially and organizationally. Confident from the financial leadership, you will be free to focus on the areas where you are most valuable to your company.
While the role of a Part-time CFO varies from company to company, there are some things you can expect from your Part-time Dearborn LaSalle Advisors CFO:
• A long-term strategic viewpoint that keeps the business on track
• A knowledgeable professional willing to ask the tough questions
• Timely reporting of financial results leading to proactive responses
• A focus on managing your critical cash-flow position
• Credibility with lenders resulting in improved relationships
• An experienced eye looking for cost savings and profit improvements
• The power of benchmarking your results against other businesses
• A mentor with definitive answers for accounting staff
• Access to Dearborn LaSalle Advisors’ broad network of proven resources
The Value of a Part-time CFO in Larger Companies
Over the years we have had many engagements in businesses where you would expect to find an experienced full-time CFO. In these businesses, real long term tangible value can be gained from a Dearborn LaSalle Advisors CFO:
• Mentoring a Controller or less experienced CFO in situations where management desires to provide an opportunity to a rising star, but at the
same time needs to ensure that nothing slips through the cracks during the transition.
• Coaching a family member who needs to gain the experience and strategic financial perspective which will enable them to take over the CFO
role for the long term.
• Bridging experience gaps arising from unique circumstance like explosive growth, acquisitions, systems integrations, downsizings, etc.
• Providing specific upper-level financial management skills in organizations where members of a broad management team assume some of the
duties that would normally be handled by a Full-time CFO.
The Value of a Part-time CFO in Smaller Companies
In addition to the entrepreneurial owner, the typical day-a-week client will have a bookkeeper but not a degreed accountant, and will work alongside an outside accounting firm. The independent firm will continue to provide tax services and certified statements if required by lenders or other third parties.
As a relationship-driven service, the role of the Part-time Dearborn LaSalle Advisors CFO is both hands on and advisory. A major value comes from open interaction and the Dearborn LaSalle Advisors CFO serving as an informed sounding board for the owner. This value enhanced by the Dearborn LaSalle Advisors CFO’s involvement in, and understanding of, the day to day workings of the business.
The Part-time Dearborn LaSalle Advisors CFO is normally responsible for financial statements, meaningful budgets, financial models, cash flow projections, cost analysis, banking relationship, risk management, and supervision of the bookkeeper. In some cases human resources and information systems are included in the Dearborn LaSalle Advisors CFO’s responsibility.
