“There’s nothing more expensive than a cheap accountant.” 

I don’t know exactly where I heard this recently, but it instantly resonated with me. I can’t tell you how many times our Fractional CFOs have had to fix a mess made by someone whose price was right, but skills and experience were definitely not. And I hear similar stories all of the time from other firms.

These messes are usually caused by:

• A lack of experience that creates and perpetuates bad habits
• An inability to look forward to understand what the company will need as it grows
• Not understanding best practices

Don’t burden your team with tasks they aren’t prepared for

When a company sends me an invoice, I can instantly tell if they have someone experienced working behind the scenes or if they’re just trying to “figure it out” as they go. And it’s not just invoices — business owners often don’t realize they’re assigning critical tasks and projects to a team member without the background to handle it the right way.

This also leads to bigger missteps like:

• Bad software implementations
• Lack of investment in a proper back office infrastructure
• No financial leadership guiding the firm

While you can’t underestimate the importance of a quality finance team to handle day-to-day tasks, you really need an experienced financial executive to lead them in their efforts. This is where a Fractional CFO can step in and give you the financial leadership and guidance your company needs. 

Overlooking the need for financial leadership isn’t unique to startups or newer companies. Quite the contrary — we’ve come across plenty of mature companies that have these same issues. They’re often “getting by” with a controller and a handful of bookkeepers and accountants. 

But the bigger you get, the faster things can go awry, and without a big-picture, forward-thinking financial executive on board, even large companies will suffer the consequences. 

A Fractional CFO has the expertise you need

Don’t be tempted to keep costs low by allowing someone without the right experience to take the lead with your finances. Hiring a Fractional CFO gives you access to someone who:

• Has seen it all — across industries and business types — and can guide your company away from potential financial and operational pitfalls.
• Is experienced in implementing best practices and selecting technologies to benefit your business.  
• Can help you understand the larger context of your financial reports and use them to help you make more informed decisions.
• Knows how to coach your financial team to be more strategic and efficient in their work so your company always has the best information available.

Crown CFO can deliver the financial expertise your Kansas City business needs to thrive. Contact Mike DeMaio at [email protected] to find out how one of our Fractional CFOs can help your company.