Your company has many moving parts. Bench scientists, lab costs, technology, intellectual property, grant applications, and legal formation. It’s hard to be good at everything. And there’s a financial aspect to everything. A fractional CFO can play an essential role in helping to manage costs, set up systems, manage cash flow, as well as providing strategic financial oversight and guidance. It’s someone who is an integral part of your leadership team.
Resources are limited for early-stage companies. You probably don’t need – and definitely don’t want - the cost burden of a full time CFO. A fractional CFO is an “on-demand” resource, and you only pay for what you need. It often translates into a few hours per week of support.
Many seed-stage companies keep the books themselves through the friends and family financing rounds. But once outside investors are involved (e.g. Series A fundraising), more formal financial information is usually needed. But it’s never too early to ask for an exploratory discussion about what you might need and when. Advice on strategic financial direction is usually time and money well spent.
There are many accounting applications out there, so there's no one right answer to this one. We would be happy to advise on selecting the most appropriate system - or if your existing systems are “fit for purpose.” Rather than seeking a “one-size-fits-all” system, many companies benefit from leveraging several specialist applications; for example, for accounts payable, payroll, or expenses, that integrate with your core accounting system. We’d be happy to discuss a set-up that works for you.
We believe that your interests are best handled by subject experts. We work with your existing tax professionals to streamline the tax compliance process. Similarly, we have a wide network so can usually recommend specialist advisors for areas such as R&D tax credits, as appropriate.
It’s simple. Drop us a line. We’ll start with an informal exploratory call to discuss what you need (we’ll also tell you what you don’t need). Go ahead, click the box below.