Business Tips Financial Services Quality benefits of hiring interim CFO by Sam McQuade CFO of Panterra Finance

Quality benefits of hiring interim CFO by Sam McQuade CFO of Panterra Finance

Sam McQuade discussing fractional Chief Financial Officer benefits in this period of recession: The CFO also works with other senior managers and is a vital participant in a company’s overall success, especially when it comes to the long run. For instance, when the marketing department wants to launch a new campaign, the CFO may help to ensure the campaign is feasible or give input on the funds available for the campaign. A CFO can become a CEO, COO, or they can assume the role of company president. The CFO must report accurate information because many decisions are based on the data they provide. The CFO is responsible for managing the financial activities of a company and adhering to generally accepted accounting principles (GAAP) adopted by the Securities and Exchange Commission (SEC) and other regulatory entities.

While surveying the landscape of the 21st Century economic climate, Sam McQuade, CFO, CEO and Financial maverick realized that the benefits of the gig economy and off-site personnel had hit the preverbally glass ceiling at the executive floor. Large established companies, corporations and organizations were captive of contracted executives. These executives could be effective and efficient however they could also be playing the game of international finance with obsolete rules, models, and ideas. Read extra details at Sam McQuade.

The CFO function is evolving at lightspeed. With digital transformation and societal changes, the CFO role is rapidly turning into one of a “Chief Fiduciary Officer”, which is going beyond the traditional financials to look towards the future and lead long term value creation in a world of many unknown risks. Storytelling is a very powerful tool to engage and energize teams about value creation and potential pitfall areas. The traditional path of CFO usually starts with a solid foundation based on technical knowledge and then after about 15 years, the great leaders earn the coveted title.

Return on investment (ROI): Part of a CFO’s strategic focus is on ensuring a strong return on investment (ROI) for their organizations. ROI is a measure of the likelihood of receiving a return on dollars invested and the precise amount of that return. As a ratio, it looks at the gain or loss of an investment as a percentage of the cost. Because ROI is a relatively basic KPI that does not account for all variables — net present value, for example — CFOs add context to evaluate whether a project will deliver sufficiently robust ROI to be worth the investment.

Now, suppose there is a problem with the website. Maybe the server goes down, or maybe there is a bug in the code. In such a case, the smart contract will still be functional, and the transactions will still take place. This is because the smart contract is running on the blockchain, which is a decentralized network. Even if one node in the network goes down, the other nodes will still be up and running, and the transactions will take place. This is just a very simple example to show you how a DAO works. In reality, DAOs can be much more complex, and they can do many more things. For instance, they can be used to create decentralized versions of traditional companies or organizations.

What Does a Fractional CFO do for a Company? Fractional CFOs most commonly partner with companies to help overcome financial challenges, achieve growth, optimize strategy, implement systems, raise capital, or navigate an audit or transaction. Overcoming Specific Challenges: Fractional CFOs are often brought into an organization when there are financial challenges that the company’s existing team does not have either the skills or manpower to overcome. In many cases, a company does not have an in-house CFO. In some cases, however, the company may have an existing CFO, and the fractional CFO acts as a partner or advisor or helps lead separate projects such as raising capital or navigating an audit.

We are your ally in managing business risks. In a world that is rapidly changing, we help you identify what that change means for your business and what measures you need to employ to protect it from a range of risks in the new economy.

A DAO is a decentralized autonomous organization that is run by smart contracts on the Ethereum blockchain. It is an organization or company that is not centrally controlled by any one person or entity. Rather, it is governed by code that is written into the smart contracts. This code can be modified or updated by anyone who has access to the DAO’s GitHub repository. To put this into perspective, imagine a traditional company or organization. There is usually a board of directors or executive team that makes all the decisions about how the company will be run. With a DAO, there is no such thing. The code that governs the DAO is open source and available for anyone to view and audit. In this new scenario, an organization can be run by anyone in the world who has an internet connection.

By utilizing a fractional CFO, support levels can be varied and customized to the evolving needs of the organization with the CFO’s work schedule tailored as such. Increased support can be provided at critical times reverting to a more consistent level when appropriate. A fractional CFO can bring substantially all the benefits in terms of skills and knowledge of a full- time resource, at significantly less cost. Services are provided on-site which is convenient for meetings and to perform critical work. The CFO becomes embedded and acts as part of the management team. When not on-site, the CFO can be ‘virtually’ available via modern communication tools.

Do you want to hire your first CFO or wanting only some interim coverage? We provide CFOs for urgent very short term objectives and longer term engagements. Customizable with clear pricing so you cover your business and don’t have to rush into a potentially bad solution and costly full time hire. The Fractional CFO and Interim CFO experiences gained by the executives assigned to these positions throughout Panterra Finance offers them a broad perspective of the dynamic changes in international markets. The part time CFO executives at Panterra Finance have access to worldwide teams that are proficient in and have initiated innovative strategies in projects centered on DeFi, Blockchain, Bitcoin, Ethereum, Crypto, Tokenization, ICO, IDO, and STO services. See extra information at https://soundcloud.com/sam-mcquade-916428514.