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What is a CFO?

A CFO is described as a financial leader for SME’s who provides leadership and oversight of an accounting team to deliver high-quality financial insight that helps business owners make better decisions.

Unlike an internal CFO or Chief Financial Officer who works for one large business, we use the same skill set to work for many, meaning you can access a talent pool previously inaccessible to SMEs. We are an outsourced service, and handle any and all tasks that would have been handled by a CFO or financial team.

Managing the accounting and finance function of mid-sized organisations with up to $20m turnover requires a unique skill set. It is a skill set that our CFOs have honed after years of experience working as commercial financial partners in real businesses.

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Maybe you are unsure of why you are having issues with your cash flow? Or Perhaps you want some expert advice on how to better integrate your finance team into your business.

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Why Use a CFO?

So why use a CFO?  We take the lead internally in driving process improvement inside your business.

We offer a unique value proposition geared to delivering a superior accounting and finance function at a lower cost through streamlining workflow management.

What sets us apart is the scalable nature of the Sequel CFO business model meaning you are guaranteed to continue receiving high quality service because you are serviced by our team not just one advisor. Our expert accountability and workflow management means higher value work is completed at lower cost. This leaves your internal managers free to concentrate on higher priority activities and client relationships.

If you want to learn more about how a CFO can help your business, explore how our team of financial experts can benefit your business by giving you financial control and visibility.

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What are the Benefits of a CFO?

CFO acts as your complete outsourced financial function. Instead of utilising and paying for an in-house financial team, we handle all your needs through CFO led management accountants, bookkeepers, cost accountants, and business strategists.  

With our customisable business service model, you can enjoy any and all of the following:

  • Cash flow management
  • Cloud Business Systems
  • Performance management reporting
  • Strategic advice
  • Bookkeeping and accounting

Because we are an outsourced service, we can tailor-make your solution so that it’s an exact fit for your needs. It’s a completely dynamic service, so as your business grows and changes, so will our service.

 

WILL I GET TO KNOW MY CFO TEAM?

We are inside your business as often as you want. We may be in your office one day a week or one day a month but although we are not with  you in your office all the time, we are always available.  Our use of cloud technology makes it possible to work alongside each other in close to real-time. By optimising our access to one another, we can work with you closely as projects occur.

With Sequel CFO, you will get to know your team well as we collaborate on projects. If you have set a task for us to do, we keep you in the loop so there are no unexpected problems.

Think of us as a partner or an extension of your financial department.

 

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WHAT CAN A CFO DO?

Why does your business need a C‑level executive? It sounds like a corporate type person that is over qualified and maybe doesn’t know how to communicate to smaller business owners. The reality is that the CFO role is undergoing a massive change. A lot of traditional technology and even HR responsibilities are starting to fall to an organisation’s CFO and with it, the ability of CFOs to communicate to many types of people, not just other accountants!

In a large organisation, a CEO might say "We're expanding to China," and the CFO says, "OK, how am I going to make this work.” But small to medium businesses don’t have the resources for these kinds of executives.

We take on these roles for your business, becoming your complete outsourced accounting function. Everything from bookkeeping and payroll, to what's going on in the business, strategy, and business systems.

Because we service many clients at once, we can put it at a price point that makes it a perfect fit for your needs.

HOW DOES A CFO HELP MY BUSINESS?

Unlike a bookkeeper, a CFO can offer you far more than just bookkeeping tasks. A CFO can act as your complete outsourced financial function.

Not only can a CFO provide you with expert bookkeeping, they can also handle your accounting tasks and help you achieve your vision- all while utilising the latest technology and innovations to speed up your processes and reduce costs. As well as manage cash flow, assist in strategy decision making and risk management and prepare more detailed reports that can give you tangible outcomes.

More than that, utilising a CFO gives you access to a far wider skillset than that of a bookkeeper. A bookkeeper’s duties will rarely change, whereas a CFO has the capability to evolve along with your business.

 

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ACCOUNTANT OR CFO? WHICH IS BEST FOR YOUR BUSINESS?

When was the last time you looked at the position description of your bookkeeper or financial controller? You may need everything from a cost accountant to help you work out how much it costs per unit of sales to get your product or service to your customer; a management accountant to work out where profit is being generated; or a bookkeeper to make sure everything is being recorded accurately. Maybe you need someone to make sure you are 100% compliant with tax and corporate rules and regulations or someone to keep you accountable and provide strong governance.

Most businesses use accountants or bookkeepers because that role has always been available to them. But what other options are available?

It might be that your business could benefit more from the expertise of a CFO. But without understanding the differences between them, how can you know which one is right for your business?

CFOs will often have years of experience in commercial finance and business, rather than a career working in a firm.They are capable of strategic business and financial planning, as well as dealing with cash flow management and financial relationships (managing your bank, investors, insurers etc.)

An accountant’s main focus is often on tax. Most are well educated in taxation and data preparation. From a business standpoint, this can be very useful. This means that they can give tax effective advice that will be of benefit. Their services usually include tax returns, large business activity statements, tax structuring, recording data, and auditing services.

Accountants are often best suited to people that need someone to focus on taxation and data preparation for their business. Almost every business needs one. However, if you’re more in need of someone that can advise on finance at a business level, whilst also managing the books, providing performance management and other essential financial functions, then an outsourced CFO might be the way to go.

Accountants are tax specialists first with many moving into other important areas to help you, like wealth and some basic business advisory services, whereas CFOs are business specialists as well. If you would like to learn more about how a CFO can help your business, then click here to learn about the benefits of utilising a CFO.

 

 

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