Overseeing the financial management of an SME is essential to guaranteeing its optimal day-to-day operation and supporting its long-term development.
However, this often represents a major challenge for companies. The process requires resources in terms of time and budget, as well as a high level of financial skills and expertise, particularly when it comes tohiring a CFO.
An increasingly popular alternative is theuse of outsourced CFO, also known as CFO part-time, offering an agile, high-performance solution for effectively managing an organization's finance function, while keeping the costs associated with such a function under control.
At Iter Advisors, we provide financial experts who integrate into your teams as true strategic partners. Find out why so many companies choose this innovative solution, and how Iter Advisors can support you.
Why choose an outsourced CFO?
An outsourced Chief Financial Officer (or CFO part-time) plays a crucial role in optimizing your company's financial management. It's not just a question of performing technical tasks, but of providing a strategic vision tailored to your objectives.
With an outsourced CFO, you benefit from :
- Financial management tailored to your organization and your specific needs.
- High-level expertise without the burden of a full-time in-house position.
- Optimum flexibility: one-off, part-time or one-off projects.
Iter Advisors, your strategic partner
At Iter Advisors, we tailor our services to each customer. Our outsourced part-time CFOs / DAFs bring in-depth sector expertise and mastery of digital tools to modernize your financial processes.
Backed by our entrepreneurial culture, our CFO department provides effective support for companies in the various key phases of their development (start-up, growth, restructuring).
By working with us, you can turn your finances into a lever for sustainable growth.
What is an outsourced CFO?
Definition and main role
An outsourced CFO is an experienced professional who steps in to manage the strategic financial aspects of your business, without being integrated internally.
Responsibilities include:
- Managing financial flows
- Drawing up, monitoring and optimizing budgets and margins
- Supervision of financial audits and investor relations
- Implementation of dashboards
- Search for financing
- Payroll management
- Administrative and contract management Optimizing margins
- Tax returns Reporting
The list is far from complete, as it all depends on the size of the company with which a CFO part-time works. The smaller the company, the more concentrated the assignments, and vice versa.
A concrete example? If you need to draw up a business plan, an outsourced CFO can take charge of the entire financial side, from data analysis to presenting the figures to investors.
Tempting, isn't it? But be warned: this type of collaboration is not for every company.
Part-time CFOs are particularly well suited to companies with between 5 and 100 employees, with an annual budget of between €15K and €60K. By way of comparison, a salaried CFO typically costs between €120K and €150K per year. So, yes, this is clearly an interesting option if you want to benefit from strategic support without blowing your budget.
But what about companies with more than 100 employees? At this stage, the need for in-house resources becomes greater, and recruiting a full-time CFO may be a logical solution, especially as it becomes easier to justify financially.
In short, it's all a question of size, needs and... budget. But for growing structures, an outsourced CFO is still an ally of choice!
The difference between DAF, RAF and CFO
| Function | Main responsibilities | Commitment |
|---|---|---|
| CFO (Chief Financial Officer) | Financial strategy, reporting, indicators | Top |
| RAF (Administrative and Financial Manager) | Day-to-day operational management | Medium |
| CFO (Chief Financial Officer) | Financial leadership, global strategy, M&A | Very high |
An external CFO brings a fresh perspective and customized solutions, without the rigidity of a full-time position.
The benefits of outsourced CFOs for your company
A flexible, customized solution
By outsourcing a CFO, you benefit from total flexibility, both in terms of duration and the tasks entrusted to the CFO:
- Lower fixed costs: No payroll or social charges.
- Immediate access to expertise: Ideal for companies undergoing transformation.
- Organizational flexibility: tailor the mission to your needs.
A strategic impact on your finances
The outsourced CFO provides tangible added value:
- Informed financial decisions thanks to modern reporting tools tailored to business needs
- Simplified digital transformation with tested and recommended solutions such as Payhawk or Spendesk for purchasing, Pennylane for accounting management, Metabase for data analysis...
- Optimized financial performance, even in uncertain economic times.
Case study
Solarmente
The main tasks of an outsourced CFO
Financial monitoring and control
A CFO share-time ensures accurate and transparent financial management:
- Create detailed financial dashboards.
- Monitor cash flows to anticipate risks.
- Prepare appropriate reports for investors and partners.
Support for fund-raising and banking relations
For growing companies, the outsourced Chief Financial Officer, or CFO part-time, is an invaluable ally. He assists :
- Drawing up business plans and financial forecasts.
- Negotiations with banks and investors.
Process audit and optimization
A regular financial audit maximizes efficiency:
- Identification of operational inefficiencies.
- Implementation of appropriate digital tools.
- Standardization of internal procedures.
Why choose Iter Advisors as your outsourced CFO?
For our expertise
With Iter Advisors, our part-time CFOs bring you international business expertise, tailored to your present and future needs. We provide immediately actionable solutions so that start-ups and SMEs can structure their finances without slowing down their growth.
They talk about us
FAQ
How do you choose your outsourced CFO?
- Accounting, finance, tax and social: no detail should escape him.
- Organization and management: He must know how to structure teams and processes.
- Mastery of financial tools: cash flow and expense management software
- In-depth knowledge of your market: This sector expertise is an asset.
- English: Often a must when working with companies.
- Good interpersonal skills: to interact with your customers, suppliers and teams.
- Curiosity: Keep abreast of regulatory developments and new industry practices.
How do I become an outsourced CFO?
How much does a Chief Financial Officer (CFO) earn?
CFO salaries reflect the complexity and responsibility of their role, as well as their level of experience. Here is an estimate of gross annual remuneration, excluding bonuses:
- Less than 5 years' experience: between €62,000 and €71,000
- Between 5 and 10 years' experience: between €71,000 and €84,000
- Over 10 years' experience: between €84,000 and €122,000
How much does an experienced CFO earn?
For CFOs with significant experience, remuneration packages are even more attractive:
- Between 10 and 20 years' experience: between €84,000 and €122,000
- Over 20 years' experience: between €150,000 and €300,000
How much should you budget for an outsourced CFO?
Outsourcing to a CFO has its costs. No surprise there, but it's something you'd do well to anticipate before embarking on a collaboration. On average, companies save 30% to 40% compared with a gross salary, while retaining valuable flexibility and equivalent quality of service.
To give you an idea, a part-time CFO generally charges an Average Daily Rate (ADR) of between €750 and €1250 excluding VAT.
Of course, this range remains indicative. Rates may vary according to a number of factors:
- Location: Prices are often higher in Île-de-France than in the provinces.
- Experience: A senior CFO will cost more, but will often bring a sharper strategic eye.
- Urgency: A last-minute need? Expect our rates to be adjusted accordingly.
- Specialization: Some CFOs are experts in very specific missions (fundraising, restructuring, etc.), which can influence their rates.
In short, take the time to assess your needs and your budget to find the right balance. It's worth it when you have an expert at your side to steer your finances and get your business off the ground!