Sam McQuade discussing flexible Chief Financial Officer advantages for AI right now in 2024: A fractional CFO is a financial expert who can bring the right level of financial knowledge to your business. They provide the experience, tools, and resources you need to reach your goals while ensuring the numbers are in order — without breaking the bank. While a CFO offers many of the same services as a fractional CFO, the main difference is in the time commitment. Fractional CFOs are typically part-time and outsource their services on an hourly basis. The big question is, do you absolutely need to hire a CFO? We say, can you afford not to? See extra info on https://medium.com/@sam_5012/dao-101-a-new-paradigm-for-organizing-businesses-and-other-ventures-215369ac7261.
When a finance function is focused purely on accounting (performed by a bookkeeper) and financial planning (performed by a controller), a CFO will, in most cases, not be necessary. However, companies at this level may want to consider bringing on a fractional CFO on an interim basis in the event of a takeover or restructuring. Companies should consider engaging a CFO, whether fractional or full-time, when the size and complexity of revenue begin to overburden the existing finance team. This generally occurs at the Series B funding round.
A fractional CFO is often brought into a company to help overcome specific financial challenges such as: Cash flow issues; Low gross margins; High expenses; Outgrown existing systems; Need to make cost cuts; Navigating an audit. Create Forward-Facing Financial Visibility: Fractional CFOs are also helpful in optimizing or implementing more forward-facing financial visibility. While many financial professionals such as bookkeepers, accountants, and controllers are tasked with keeping past and current finances organized and well-documented, a CFO focuses on the future.
Searching to hire your first CFO or need interim coverage? We offer solution CFOs for immediate very short term projects and longer term engagements. Adaptable with clear pricing so you solve the needs of your business and don’t have to get into a potentially bad and expensive full time hire. The Fractional CFO and Interim CFO experiences gained by the executives assigned to these positions throughout Panterra Finance offers them a broad perspective of the dynamic changes in international markets. The part time CFO executives at Panterra Finance have access to worldwide teams that are proficient in and have initiated innovative strategies in projects centered on DeFi, Blockchain, Bitcoin, Ethereum, Crypto, Tokenization, ICO, IDO, and STO services.
CFOs usually are responsible for key finance functions which have included broad categories of accounting, treasury, financial planning and analysis (FP&A), controls, compliance, tax, and audit. Going forward towards 2022, the same functions exist, but they are getting more automated, so the CFO can focus more on forward perspectives. Storytelling requires strong emotional intelligence and solid communication skills. Here’s the four key areas the CFO can be messaging: Why & Purpose: Communicating the “Why” is one of the strongest messages the CFO can deliver. It’s not only the reason for the corporate existence, but it’s also very motivational for all the stakeholders. This message should be repeated frequently and consistently to make people feel the genuine purpose.
Generally speaking, the CFO position is reserved for very experienced professionals with established track records in their field. CFOs are generally equipped with advanced educational designations, such as a Master of Finance or Chartered Financial Analyst (CFA) designation. Many CFOs have professional backgrounds in fields such as accounting, investment banking, or financial analysis. For financial professionals, the CFO is among the most prestigious and highly-paid positions available in a firm. Discover extra details at Sam McQuade CFO of Panterra Finance.
Strategy and forecasting involves using available data and reports, both internal and external, to advise on areas including product development, market expansion, human capital management, M&A and capital investments. It’s also where structured planning and forecasting exercises, like scenario planning and FP&A, fall. Controllers, treasurers and FP&A analysts are invaluable members of the team, but in all these areas, the buck stops at the CFO’s desk.
The option of working from anywhere in the world is another advantage of a DAO. In a traditional organization, you have to be physically present in order to participate in the organization. With a DAO, you can participate from anywhere in the world. All you need is an internet connection. There are many other examples of DAOs, and there are many different ways in which they can be used. The possibilities are endless, and it is up to the creativity of the developers to come up with new and innovative ways to use them.
Selling your business or looking to buy others? Our experts can lead the deal and make sure that you have a thoughtful ownership transition. We are happy to provide second opinions on valuations as well so you have another perspective and feel better before your close the deal.
A DAO is a decentralized autonomous organization that is run by smart contracts on the Ethereum blockchain. It is an organization or company that is not centrally controlled by any one person or entity. Rather, it is governed by code that is written into the smart contracts. This code can be modified or updated by anyone who has access to the DAO’s GitHub repository. To put this into perspective, imagine a traditional company or organization. There is usually a board of directors or executive team that makes all the decisions about how the company will be run. With a DAO, there is no such thing. The code that governs the DAO is open source and available for anyone to view and audit. In this new scenario, an organization can be run by anyone in the world who has an internet connection.
The CFO is responsible for effective and efficient financial operations including accounting, financial reporting, cash management, budgeting, maintaining controls and issues such as capital structure, investor relations, and financing. The CFO is also involved with strategic planning and financial analysis related to mergers, acquisitions, and divestitures, as well as providing expert financial and operational guidance to business owners to maximize cash flow, minimize business risk, and increase the value of the enterprise.
In these early years of creating innovations in the corporate C-Suite, Sam McQuade nurtured and created a maverick approach to new finance operations for Stryker as it broke through to the lucrative emerging markets in Central and Eastern Europe (CEE)). While approaching the markets in the growing economies of Poland, Czech Republic, Hungary, Croatia and Romania, Sam McQuade was recognizing the need for Interim and Fractional CFO’s for the avalanche of incubators and startup companies in these underdeveloped economies that were on the cusp of being integrated into modern International Finance systems and markets.
