When should a business hire a part-time finance professional?

In a recent article titled "Gig Economy - Is it Really on the Uptick?", we concluded that there is an increasing demand for engaging virtual, fractional, outsourced finance professionals. This raises the pertinent query: “Could your business derive advantages from hiring a contractor, such as a CFO, controller, financial analyst, or accountant on a part-time basis? When would this make sense and be advantageous for our company?

Here are some scenarios to consider where a finance contractor can execute the tasks (maybe even outperform) and save the business money.

a. The Financial Officer retired, and you need an interim executive to fill the vacancy temporarily while seeking a permanent ideal candidate for a smooth succession and transition into a perfect fit.

b. The brick & mortar business is moving, or expanding to include other locations, or maybe even Exiting the industry and the finance team has been Reduced in Force!

c. The company is rapidly growing and needs a professional with the background and experience to manage the financial aspects. Though, the position doesn’t demand a full-time position and trying to fill the role with part-time ‘top-level’ finance manager could be challenging.

d. Looking to delegate financial/ accounting department duties and need someone with proficient knowledge and expertise…On a tight Budget!

e. Business processes / workflows have been streamlined and the necessity of many layers of executive professional level employees along with it. However, the volume of work remains, and it requires knowledge and savvy to manage all the financial decisions smoothly and efficiently as before.

We , at Gorka Business Solutions, are ready to supply your part-time finance professional needs for a fraction of the cost. We have a strong track record with referrals.