News

NEW YORK, N.Y. – (July 26, 2022) If you own a business – especially one that’s on the fast track – you understand that managing your finances is the key to success. However, hiring an in-house accounting team can often be time-consuming, expensive and at times involves costly errors.

Outsourced CFO services, whether done on an interim, long-term or project-by-project basis, can be both operationally beneficial and cost-effective.

As the founder of CFO Squad, a premier provider of outsourced CFO and financial accounting services to both private and public companies, I have observed a number of other substantial benefits that can accrue, such as:

1. Expert Insight “Reinventing the wheel” and/or learning by trial and error can be a luxury you can ill afford. Our team has the diverse and deep experience needed to help you learn from OPM (Other People’s Mistakes), so you can: build financial strategies and models that achieve your goals; chart your company’s course with accurate forecasts and budgets; build an accountable and engaged team; and develop more useful metrics and KPIs. With a deeper under-standing of the systems and processes that help your company run, your company is far more likely to succeed.
2. Cut Costs The average salary of an in-house CFO can be cost-prohibitive — not to mention the additional cost of accounting staff. Retaining our services costs much less, enabling you to deploy a team of qualified professionals for a fraction of the cost of adding to your payroll. Additionally, their independence from your business enables them to be more objective, thus easing tough cost-cutting decisions.
3. Get your “ducks in a row” (i.e., records) for IPOs, SPACs, etc. Most growing businesses need capital, and borrowing money may not necessarily be the best way to proceed. Raising capital is a complex and time-consuming process that requires superior financial knowledge and resources. An outsourced CFO typically has relationships with financial backers and can introduce you to capital options you might not otherwise realize. At CFO Squad, we have extensive experience in helping companies go public, acquire other companies (or be acquired), and/or favorably restructure their debt.
4. Improved Security and Control Are your internal controls vulnerable to compromise? Utilizing CFO Squad’s services grants you security and peace of mind. Outsourcing your CFO and accounting services adds a layer of confidentiality and security, thus reducing the risk of a breach and potential fraud.
5. Services to Meet Your Needs Outsourced CFOs provide a vast array of financial services to help plan and grow your business. While the services abound, you can select just those that best fit your needs, and add services as your company grows and your needs change. Typical services include:
   • Compliance with IPO, SPAC, and/or loan filing requirements
   • Document preparation and review during audits
   • Preparation and review of financial reports
   • Budgeting and forecasting
   • Business and financial planning
   • Systems/Controls review
   • Migrating to back-office accounting
   • Strategic tax advice

If you’d like to explore the potential value of outsourcing your CFO services for your organization, please contact us to schedule a free consultation. Our expert and dedicated team is here to meet your needs and ensure your company thrives.

ABOUT THE CFO SQUAD

The CFO Squad is an accounting consulting firm that specializes in financial reporting, technical accounting research and CFO advisory services for companies of various sizes and from multiple industries. From complex technical accounting transactions to periodic financial reporting, our professionals can offer an organization the specialized expertise and multilayered skill sets to ensure their accounting projects are completed timely and accurately. To learn more, please visit: www.cfosquad.com or call us at (845) 613-3394.

OFFICES

NEW YORK CITY, NEW YORK OFFICE

1345 Avenue of the Americas
New York, NY 10105

WOODMERE, LONG ISLAND OFFICE

1024 Broadway
Woodmere, NY 11598

SPRINGFIELD, NEW JERSEY OFFICE

623 Morris Avenue
Springfield, NJ 07081

PHILIPPINES OFFICE

Buhangin-WVP Lopson,
Buhangin-Lapanday Road
Davao City 8000

ISRAEL OFFICE

Ramat Bais Shemesh (Central Israel)

Contact Info

Joseph Himy, CPA
Managing Director & Founder
info@cfosquad.com
(845) 613-3394