A part-time CFO (“Chief Financial Officer”) is an executive with which you contract to do everything that an in-house CFO would do. The only difference is the amount of time spent doing the job.
Many companies do not need, or cannot afford a full time CFO as an employee. Annual salary plus benefits could result in a cost up to $250,000. However every business can benefit from financial guidance and oversight.
A CFO is very different from an accountant. Accountants generally deal with past events and create reports and statements that place those past events in the proper format for compliance purposes. A CFO looks ahead and deals with the strategic elements of a company’s operations to ensure that it has the processes and protocols in place to create its goals, understand its goals and be able to reach its goals.
Canova Bancorp will work closely with you to ensure that there are easily understandable plans available to you to deal with any issues affecting your business and because the CFO function is not a “one and done” proposition it will work with you on an continuing basis so that your ongoing requirements are looked after and as future changes affect your business, these changes are reflected in your strategic plans and projections.
Canova Bancorp will also help you deal with both internal (employees) and external (suppliers, bankers, accountants, lawyers etc.) stakeholders so that everybody is fully informed with respect to their role in the success of your company.
The part-time CFO services provided by Canova Bancorp can be instrumental in making your company a continuing success and taking it to the next level.