Frequently Asked Questions

Your company has many moving parts: teams of scientists, infrastructure, lab costs, computer purchases, technology decisions, intellectual property issues, grant applications, and corporate legal challenges. It’s hard to be good at everything. And there’s a financial aspect to everything. 

A strategic 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 sees the big picture, is an integral part of your leadership team, and who can advise on the financial angle of many aspects of the business.   

Resources are limited for early-stage life science 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 use. We work on reasonable hourly rates for work delivered, and ensure that you are always aware of how costs are being incurred.  

Support services often translate into a few hours per week of support. We agree priorities with you and ensure that the most critical areas are covered. In those few hours per week, many of our clients quickly come to rely on their fractional life sciences CFO as an integral part of the management team -  on a fractional basis.

Many seed-stage companies keep the books themselves through the friends and family financing rounds (think kitchen-table QuickBooks or lists of expenses on Excel). And that works for a time. But once outside investors become involved (e.g. convertible notes, SAFEs, Series A fundraising), a more formal approach to financial accounting, reporting, and forecasting becomes essential.

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. We specialize in delivering the services you need when you need them. 

Getting your "tech stack" right is very important. 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: the so-called "best of breed" approach. 

For example, accounts payable, payroll, or expenses, should integrate well with your core accounting system. Each company is different, so we like to understand what you need before launching into software recommendations. The objective is to match your company's needs of maintaining control of the business with minimal business disruption and cost. 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 of professionals we have worked with so can usually recommend specialist advisors for areas such as R&D tax credits or more general tax strategy, as appropriate. 

Drop us a line.  We’ll start with an informal exploratory call to understand where you are today, discuss what you need (we’ll also tell you what you don’t need).  Go ahead, click the box below.