Swifton CFOs provides emerging businesses with cost-effective outsourced (part-time) financial leadership and support to clients with the goal of handling all accounting financial and administrative matters so entrepreneurs can focus on driving the business.
We will advise as the part-time CFO, operate as the outsourced Controller, or provide any level of accounting help required for a growing company. Our strength is in working with entrepreneurs to create integrated financial models that make sense to founders, investors and boards. We work with the Accounting Managers and Controllers, mentoring them, so they develop into strong contributors for the enterprise.
Swifton CFOs develops the financial framework for a scalable business. We have discovered in working with emerging companies that it makes sense to have some limited involvement early to insure that they are setup the right way in accounting (to some degree bookkeeping), in projecting out costs and cash flow—determine cost of additional resources, and in having someone, even on an ad hoc basis, that can assess pricing and margins as well as question the revenue model.
- Strategic consultation to management
- Annual budget process
- Equity/debt fundraising
- Short and long-range finance department goal and objective setting
- Recommend and implement improvements for cost reductions and profit improvements
- Financial forecasts for resource and cash requirements
- Business planning
- Restructuring
- Consultation of and assistance with designing ownership changes
- Board presentations and packages
- Tax compliance
- Establishing and managing the finance and accounting functions
- Internal controls
- International support
- Implementing technical accounting rules such as stock option valuation models, capitalization of software and implementation costs
- Merger and acquisition support
- Financial reporting
- Due diligence preparation
- Finance and accounting policies and procedures
- Financial analysis to guide planning and decision making
- Vendor selection and management: banking, accounting, leasing, etc.
- Investor presentations
- Audit preparation
- Cash management and banking review
- Forensic accounting
- Tax planning and reduction support
- Development of capitalization tables and stock option plans
- Equity and debt fundraising
- Pricing models
- Connections to local professional service firms and facilitators
- Compensation planning and analysis
- Employment practices for compliance
- Office management
- Vendor and facilities management
- Contract review
- Outsource Human Resources
- Stock option plan set up and maintenance
- Employee benefits review
- Real estate leasing negotiation
- Payroll service compliance
- Employee hiring and termination procedures
- Develop a plan and implement a Board of Advisors — key industry leaders to add credibility and drive traffic
- Create a revenue model that is sustainable and marketable for investors
- Drive the development of the business plan, especially the financial projections and documentation required
- Formation of agreements/contracts with collaborators and vendors
- Prepare for investment and drive the search for funding sources (private investors or angel groups)
- Driving the development of the business plan, especially the financial projections and documentation required
- Assist with the formation of contracts with collaborators, vendors, and clients/customers
- Setting up accounting tracking and reporting — which includes providing bookkeeping support
- Formalizing your financial record keeping and providing a framework to keep you organized
- Search for funding sources (private investors, angels, and venture capitalists)
Our clients range from pre-revenue startups to later stage privately held companies
A full-time CFO cost approaches $260,000 because the base salary is not the only cost. Average base salaries for CFO's of private companies are $180,000 plus bonuses of 20% ($36,000), payroll taxes ($15,400), benefits ($24,000), other expenses (seminars, etc.) ($2,000), and these costs do not include time missed for vacations taken, holidays, and sick time. We have also not considered that a CFO would expect an equity stake in the business. Two other major costs involved in hiring a CFO are recruiting costs and severance (since, unfortunately, the hire does not always work out). Compare the high cost of a full-time CFO with a part-time, modular CFO who is there when you need them at a lower cost and it is an easy decision.