But what if your company doesn't have the budget for a full-time person or someone with the know-how you need? The answer may be a part-time CFO, says Brad Martyn, president of Focus Business Solutions (FBS) in Westerville.
"Small and mid-sized businesses may not need a full-time person. Our company fills that need," he says.
Martyn's full- and part-time controllers and CFOs brings more than 20 years experience to the table, with most spent working for large companies.
"Our CFOs can act as a proactive financial and business adviser," says Martyn.
While CPAs offer bookkeeping services, managing a company's accounts is just part of what FBS provides clients.
"We help the business owner or executive understand how well the business is performing financially and suggest improvements," he says.
The client company's new CFO becomes part of the team, working at its facilities to be available to key personnel.
"Typically our staff is on the job about 12 to 20 hours a week," Martyn says.
FBS also offers clients access to a network of service providers, including CPAs and tax experts.
Bruce Glick, CEO of Ultryx Corp., an enterprise channel software provider, says FBS' John Loughlin has been an asset to his company.
"It was a seamless transition. There was no disruption when the former CFO left," says Glick. "We literally showed him the office and gave him a password for the system, and with nothing more than that, he took over."
Glick says FBS met Ultryx's need for financial expertise at a cost it could afford.