The modern CFO is much more than a bean counter.

Professionals who operate in the role today influence the entire organization, and their work drives results. So, hiring a CFO can make a significant difference to your company.

In this article, we will show you how a CFO’s skills can enhance your company’s growth prospects and make hiring an experienced professional a good idea.

Ensuring the business has enough liquidity to support operations and growth

Hiring a CFO means they are responsible for managing your company’s cash flow and planning your organization’s finances. Their work ensures that your company has sufficient liquidity to support its operations and to promote future growth.

Seeing the wider picture

Company CEOs may have a narrow view of the finance function. This view often makes it difficult to understand the full value that a CFO provides outside of accounting. In truth, CFO insights are wider than just providing the numbers. Top professionals provide insights into aspects such as resourcing and optimizing capital.

Securing capital

Your company needs capital to compete in the market and grow. Experienced CFOs know how best to obtain this capital in the form of loans, leases, equity options, and other capital options. They also know how to align the cost of capital to the returns it provides. So, more expensive capital is assigned to areas such as product development and market expansion.

Building scalable systems and processes

Experienced CFOs develop a holistic view of the organization. This provides them with the knowledge necessary to build cutting-edge systems and processes that secure a healthy position and future for the company.

This work includes creating a long-term financial strategy for the company and ensuring that systems and processes are scalable. Modern CFOs understand the importance of using technology and automation to make this happen.

Optimizing expenditure

The most effective CFOs know how to optimize the way you spend in your business and what aspects of the company can be subject to savings. Sometimes, there is an assumption that reducing headcount is the best way to optimize expenditure. However, this is not always the case. Experienced CFOs are able to plan in areas such as labor force expenditure to ensure that the ebb and flow of the organization works to its advantage from a cost perspective.

Ensuring compliance

Ensuring compliance has always been among a CFO’s responsibilities. Today, it’s a more essential aspect of the role than ever. This is because the current financial regularity landscape is extremely complex. Not adhering to these regulations does not just lead to legal difficulties for an organization, it can also adversely affect performance and reputation. So, this is a vital benefit that hiring a CFO gives to a company.

You can clearly see the knowledge and skills a modern CFO can bring to your company. Bringing an experienced professional into your organization makes it more resilient, financially stable, and scalable. As your company grows, you cannot ignore the value of a CFO, whether you choose a fractional, part-time, or full-time professional.