Frequently asked questions

The roles of Controller and CFO (Chief Financial Officer) can overlap in small to mid-sized companies, especially when finance teams are lean. The Controller is primarily responsible for day-to-day financial and cost accounting operations. Their role is ensuring accuracy in financial records, producing financial statements, cost control, handling job or product cost analysis and product pricing. A CFO may do some or all of that, but also focuses on strategic financial leadership, including budgeting, forecasting, capital planning, risk management, and supporting executive decision-making. A CFO also brings higher skills in the areas of financing acquisition and a business sale, merger or acquisition. Infused CFO Works is capable of fulfilling the Controller or CFO responsibilities, or will perform both, depending on client circumstances and needs.

A fractional CFO or Controller is a part-time or contracted (outsourced) Chief Financial Officer. Serving on the management team, they carry out financial, controllership and accounting responsibilities. A primary attraction is gaining higher level skills than would otherwise be affordable. Also of appeal, is substituting a flexible, variable cost in place of what would be a large fixed-overhead commitment for adding a full-time hire. Moreover, confidence of fit, long-term retention and employee benefit cost-savings are of additional interest.

Fractional CFO use by smaller companies has seen a big increase in the past 3 years. Today, about 33% of small companies use fractional management services with CFO/controllership being used most widely.

The powerful dynamics moving businesses to fractional CFO/controllership use are:

• CFO availability. Supply is tight for well-qualified CFO’s experienced in the small company setting.
• Retention. Keeping a full-time CFO for the long-term is a big problem. CFO job-hopping has grown.
• New technology. Fractional CFO productivity has leaped with AI, powerful ERP systems and financial modeling.
• Support aids. Fractional CFO effectiveness has vaulted with remote connectivity and digital communications.
• Cost/profit pressure. Business cost increases and weaker profits make it vital to keep operating overhead low.
• Economic uncertainty. Businesses are avoiding fixed overhead payroll additions in favor of costs that can vary.
• Benefit costs. Full-time CFO hires are more costly with skyrocketing health care and other benefits costs.

It’s simple. It calls out the top areas of focus and responsibilities we will tackle with you. Those will have been identified and discussed in earlier meetings together. It covers the weekly days and hours of on-site service and who on our staff will do the work. A bi-weekly retainer fee is stated as is your flexibility to expand or reduce our weekly level of on-site hours, or discontinue our work altogether. Assurances are provided, such as confidentiality and ethical conduct. Our full client list is offered as references you may speak with.

This is entirely dependent on client choice and circumstances. It is not uncommon to grow responsibilities as the working relationship progresses and levels of client confidence and comfort are firmly established.

When not on-site and something important comes up, we prize being reachable and responsive at all times and all days of the week. With the ease of mobile and electronic communication, there is every reason to commit to that with each client. More often than not, it’s a quick question to answer or guidance to provide.

We commit ourselves to working toward minimizing a client’s level of dependence on us. We believe we have a professional obligation to develop the client’s internal accounting and financial capabilities   ̶   people, systems, processes and controls. Whenever our period of service may end, we will always facilitate a smooth transition. If the need for a full-time Controller or CFO develops, we will assist the client in both recruiting a high-quality individual and transitioning our responsibilities.