Dependable CFO Services Toronto
CFOs have many different roles. From making sure that the overall finance system is capturing the correct data, to building financial models and helping put numbers on major business decisions – as a local Toronto business you need a reliable CFO who’s got your back.
Smaller businesses often can’t justify the cost of a full time CFO, which is where our Fractional CFO services Toronto come in. We can provide senior level advice and input as and when you need it, from as little as a couple of hours per month.
If you’re a small business that needs monthly financial reports and occasional CFO services in Toronto, then check out our bookkeeping page – we provide these services as a standard part of our monthly bookkeeping package. If you have more advanced finance needs, then read on.
Pricing – CFO Toronto
Depending on the nature of the work, we can provide an estimate of the hours required during the quoting process. For clients who need us to provide regular monthly services, we generally have a minimum retainer, and if requested we can include a cap on the total number of hours to be worked. Our hourly rate for CFO services in Toronto is $150.
CFO Services Toronto – Our Ethos
The role of a good CFO is more than just providing forecasts, models and analysis. A great CFO will offer candid advice and assessments of your business, operations and long-term strategy. Up to date, clearly explained financial information is the real-time feedback that lets you understand if your business is performing as desired. Our fractional CFO services Toronto provide not just the numbers, but the sounding board that will help you succeed.
We offer customized internal management reporting, financial analysis, financial modelling, cash-flow forecasting, and financial due diligence around a business acquisition. We have a fantastic network of financial professionals, so if we can’t assist with your specific requirements, we’ll endeavour to connect you with a CFO in Toronto who can. To learn more about our Fractional CFO Services, check out our video below.
Do I Need a CFO Service?
If you already have well kept books and an efficient finance system, but you’re struggling to get meaningful analysis and forecasts for your business, then a CFO service may be what you need. However, we’re one of the few CFO services in Toronto who will have a consultation call and tell you that you don’t need CFO level services. A lot of smaller business reporting and analysis issues can be covered by our monthly bookkeeping service.
Our Services
Below are some examples of services that we commonly help clients with.
Cashflow Forecasting
Making sure that you have adequate cashflow is critical to your business. While this may be relatively straight forward for smaller businesses, this can rapidly increase in complexity as you grow and scale. A good cashflow needs to know information that’s not in the finance system, such as planned future expenditures. We take the time to get to know your business and it’s shorter term plans, meaning we can prepare accurate and relevant cashflows.
Management Reporting
As your business grows in size and complexity, there will likely come a point when you need more detailed management accounts each month. This may mean moving from a simple cash basis to an accrual basis of accounting, which smooths out the timing differences caused by cash accounting. You may also want to add in non-financial sources of data, such as customer sales information by product or sales channel. Putting all of this information into one set of reports and metrics will create a tool that allows you to monitor and run your business. We can also assist in providing narrative and explanations around movements and trends in the numbers, helping you understand what’s going on in your business.
Financial Review & Strategic Advice
At the end of the day, the main purpose of internal reporting is to monitor your performance and to make sure that your strategic plan is working. Reviewing your strategy isn’t easy, and having a fractional CFO questioning and challenging your assumptions can help you make the right calls. Our CFO Services Toronto are always thinking about the bigger picture, and we can play an invaluable role in helping you get the big decisions right.