Fractional (Part-Time) / Interim CFO

414-467-0512

A fractional Chief Financial Officer (CFO) is a part-time role usually, typically utilized by companies that do not have the need for a full-time position, but want the expertise of a financial professional that has been in the CFO role previously. A fractional CFO may work one day each week at your business depending on your needs, which could be more or less frequent. Backus Consulting LLC gives you access to the expertise of a Chief Financial Officer without the full-time costs.

Did your CFO leave the business or is he or she unable to work for some unforeseen reason? An interim CFO might be the answer. Gain access to the expertise and an experienced Chief Financial Officer quickly while the proper permanent skillset can be sourced.

Typical duties may include back-office financial compliance review, accounting organization assessment, cash flow projections, forecasting, obtaining financing for the business, financial system implementation, and financial training and coaching. A fractional CFO can also be an important connection to other third-party experts to help you run your business.

Project Consulting

How is your accounting department performing? Do you have accounting surprises? Does your accounting head need a coach/mentor? From a compliance standpoint, are you doing the right things to keep your business out of trouble?

If you don't know, do you need an independent accounting organization review or a financial compliance review?

Do you understand the financial reports coming from your business? If not, has anyone mentored/coached you and put the financial information in laymen’s terms? Do you know what questions to ask?

As an owner do you need help understanding the numbers behind the business? Do you need a financial coach? Does your staff need a mentor to move them to the next level?

Businesses may have cash issues during periods of significant growth or significant decline. Is your business going through either? Does your accounting group provide cash forecasts? Are there surprises? What is your forecast for the business (this quarter, this year, next year)?

Do you need help with preparing cash flow forecasts? Do you need assistance with future forecasting? What might the future hold to help you improve your plan?

Do you have a banking relationship and line of credit? If not, would you like to establish credit with a bank? Do you understand how banker’s think and know their measurement tools for establishing credit? Do you need to ask for an increase in your lending and don't know how to go about it?

Accounting and finance (banking) are like different languages We can help obtain finance for the business and negotiate with banks.

How satisfied are your customers? Do you have a measurement tool in place to know? What is your cash conversion cycle (AR/Inventory/AP)? Do you have established metrics (KPI’s)? Are they meeting your needs? Are they measuring what really matters?

Do you need help in establishing the metrics to run your business and where to get the data on a timely basis?

Are your financial systems performing as intended? When was the last time you did an analysis of your systems? Are there any tools that could improve efficiency? Do you have contingency plans in place for disaster recovery? Disaster recovery can include physical damage but also system issues?

Do you need to upgrade your financial systems or upgrade your information technology?

Some typical financial consulting projects might include:

Accounting organizational reviews
Company financial compliance reviews
Due diligence work for acquisitions / divestitures
Obtaining financing for the business, banking negotiations
Financial systems implementations and IT related projects
Development of key performance indicators (KPI’s)
Strategy analysis
Process analysis
Financial training and coaching