Fractional CFOs in Boston that can flexibly support your business.
McCracken has an active network of Fractional CFOs that support the greater Boston area. A Fractional CFO can support your business as-needed, giving you full flexibility.
Fractional CFOs provide an excellent option to companies looking for finance support without committing to a full-time hire.
Boston's active healthcare and life sciences industry can leverage the expertise of fractional CFOs with specialized experience to provide financial guidance and support tailored to the unique needs of the industry.
The hospitality industry in Boston can leverage the expertise of fractional CFOs who specialize in hospitality finance and operations. These fractional CFOs are equipped to provide financial guidance, strategic planning, and cost management solutions that address the unique challenges and dynamics of the hospitality sector, ensuring optimal financial performance and profitability for hotels, restaurants, and related businesses.
We offer comprehensive support to startups in Boston, providing essential resources and expertise to foster their growth and success. Our services include strategic financial planning, fundraising assistance, financial modeling, and budgeting tailored specifically to the needs of startups. With our guidance, startups in Boston can navigate the intricacies of early-stage funding, optimize their financial operations, and develop a strong foundation for sustainable growth in the competitive startup ecosystem.
For growth-stage businesses in Boston, we offer specialized support to propel their expansion and maximize their potential. Our services encompass financial analysis, forecasting, cash flow management, and strategic financial decision-making for the unique needs of growth-stage companies. By leveraging our expertise, these businesses can navigate the challenges of scaling operations, accessing growth capital, and implementing effective financial strategies to drive continued success and achieve their growth objectives.
A Fractional CFO offers a fresh perspective on challenges and can discover risks and opportunities for your business. Their expertise is available to your company at a fraction of the cost of a full-time hire.
Fractional CFOs, with their accounting expertise, evaluate your current policies and procedures, offering valuable recommendations for improvements. Strong financial reporting is vital for owners and stakeholders to track the financial health of the business, providing a clearer understanding of its overall performance.
Fractional CFOs play a critical role in strategic planning, assessing your business's current strategies and provide valuable recommendations for optimization. With their guidance, you can develop robust strategic plans that align with your goals, capitalize on market opportunities, and navigate potential challenges.
Fractional CFOs can help ensure compliance with tax regulations, minimize tax liabilities, and capitalize on available tax benefits. Their specialized knowledge in tax planning and strategy enables you to make informed decisions that optimize your tax position and maximize savings, ultimately enhancing the financial health of your business.
When it comes to performance management, a fractional CFO serves as a valuable asset, providing guidance and expertise on specialized projects and complex performance-related issues. In situations where optimizing performance and lacking internal expertise pose challenges, a fractional CFO becomes a trusted advisor, assisting in identifying and implementing effective solutions to drive success for your business.
You don't know what you don't know, which makes it difficult to ask for help in areas where you are not sure what the improvements are or if they're even needed. We will commonly perform an assessment of your organization's finance function at the start of any engagement. It is the CFO's job to inform the CEO about both what is needed from a finance perspective as well as where finance can contribute additional value to the overall vision of the company.
Fractional CFOs work a flexible number of hours based on the changing needs of the business they serve. This could be a few hours a month up to 10 or 20 hours a week.
Fractional CFOs are used to working flexibly and on-demand. This means that you may need them close to full-time for a few weeks before converting to a low number of hours for ongoing guidance. Your business may not need the full-time support of a CFO, but having fractional guidance to support your controller and advise your CEO can be an invaluable asset in creating company strategy.
A startup can benefit from the council of a seasoned industry CFO from day one, but realistically the startup won't have demands on their finance and accounting function that warrant the involvement of a CFO until they've raised seed capital. Preparing for future rounds of funding is just one of the many areas that a fractional CFO can add value to a startup.
A fortune 500 CFO may not make the best fit in a startup environment. Similarly, a fractional CFO with a background in telecommunications is unlikely to have the expertise needed in a healthcare organization. A CPA can be a great credential to find in a CFO, but not every company will need a CFO with a heavy background in accounting. Circumstances vary for each company depending on the stage and needs of the organization.
A fractional CFO's involvement depends greatly on the stage and needs of the organization. In smaller companies, the fractional CFO may personally take on a broad set of responsibilities, including managing the books, negotiating contracts, and more. In a larger company, the fractional CFO may oversee and guide the controller who manages the accounting function as well as other leaders in the finance function.
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