Chicago Fractional CFOs

Fractional CFOs that can flexibly support your business in Chicago.

Hire a Fractional CFO near me

Looking for a Fractional CFO in Chicago?

McCracken has an active network of Fractional CFOs that support the greater Chicago area. When you engage a fractional CFO, your business benefits from the flexibility of on-demand support, allowing you to customize the level and duration of their involvement according to your specific needs and requirements.

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Do I need a Fractional CFO in Chicago?

Fractional CFOs provide a flexible and efficient solution for companies seeking finance support without the commitment of a full-time hire.

Information Technology Companies

Our Fractional CFOs bring proficiency in financial management, budgeting, and cost control specific to technology-focused businesses. We are knowledgeable about the financial implications of research and development (R&D) investments, intellectual property management, and emerging trends in the IT sector.

Manufacturing Companies

Our Fractional CFOs understand the critical aspects of manufacturing, such as cost accounting, supply chain management, inventory control, and production planning. With expertise in product costing, process optimization, and capacity utilization, our Fractional CFOs excel in navigating the complexities of manufacturing. They analyze manufacturing data to pinpoint potential cost savings, enhance operational efficiencies, and ensure optimal allocation of resources.

Growing Businesses

Our Fractional CFOs are well-versed in the challenges that arise during the growth phase. They have the expertise to provide strategic financial guidance, evaluate various funding options, conduct thorough profitability analysis, and develop robust financial strategies to drive sustainable growth. With their support, businesses can navigate the complexities of scaling operations, accessing capital, and expanding into new markets with confidence and optimized financial performance.

Large Enterprise

In Chicago, fractional CFOs can be a valuable project resource for large enterprises, providing specialized expertise to support specific initiatives and complex financial projects. They offer valuable guidance on capital expenditure planning, cost optimization strategies, mergers and acquisitions, and strategic financial decision-making tailored to the unique requirements of businesses in the Chicago area.

Benefits of a Fractional CFO

Why You Should Hire A Chicago Fractional CFO

By engaging a Fractional CFO, your business gains access to a fresh perspective that helps address challenges and identify untapped opportunities. Their specialized expertise is available at a fraction of the cost of a full-time hire, providing cost-effective access to invaluable financial guidance and support tailored to your specific business needs.


Effective financial reporting plays a vital role in enabling owners and stakeholders to monitor the financial well-being of the business. Fractional CFOs can evaluate your accounting processes, systems, and controls to ensure accuracy, compliance, and efficiency. They can help you implement best practices, streamline financial reporting, and optimize accounting operations.

Finance Technology

With their extensive experience in various technology solutions, fractional CFOs possess the expertise to assess and implement platforms and systems customized to your business's specific requirements. By leveraging finance technology, fractional CFOs enhance operational efficiency, ensure accuracy in financial processes, and provide strategic insights. This empowers organizations to make data-driven decisions, stay competitive, and navigate the ever-evolving digital landscape with confidence.

Mergers and Acquisitions

Fractional CFOs can provide invaluable support throughout the M&A process. They can assess potential transactions, conduct due diligence, and evaluate the financial risks and benefits of M&A opportunities. CFOs play a crucial role in financial modeling, deal structuring, and assessing the impact of M&A decisions. Their insights and recommendations help optimize transaction terms, identify synergies, and guide strategic decision-making, ultimately maximizing the value and success of the M&A activities.

Finance Assessment

A fractional CFO can provide a comprehensive evaluation of your organization's finance function. Leveraging their expertise and fresh perspective, they thoroughly assess financial processes, systems, controls, and reporting mechanisms. This evaluation aims to identify opportunities for improvement, suggest best practices, and implement strategies that enhance overall financial operations.

Frequently Asked Questions

How do I ask a CFO to do something when I don't know what needs to be done?

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.

How many hours does a Fractional CFO work?

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.

What if I don't know how often I need the Fractional CFO?

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.

When does a startup need a fractional CFO?

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.

What to look for in a fractional CFO?

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.

What should a fractional CFO do at a company?

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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