Why you should or not consider to outsource your CFO ….part 1

In the today’s business environment it is not uncommon to have different business functions outsourced.

To have IT, Accounting, Tech Support, Call Centres and Customer Care Support outsourced is no news any more. If you look at big corporations all over the world you’ll see that all of them have most of the support services outsourced in shared services centres that are owned by the corporation or by 3-rd parties.
In the end it depends on the adopted strategy for the specific business model , do you want to be very lean and sleek, you keep only what is strictly linked to your core business.

If you want to present a strong, asset rich and business then you go for the build up of resources and competencies.

Considering the financial world crisis you should be set up as lean as possible, you should want to use your resources for your core business and business development and do not care so much about business support services, you should not concentrate, as a business owner, to much on the support services that need to be there , well to support the business.

No business equals no business support services  

and

no business support services equals no business


The statement above means that you as business owner should focus on business development that promotes and makes the business go forward.

The smart solution is to buy the needed support services in , at 1-st up to a certain business size go for the outsourcing option of the needed support services. Only when your business has grown to a certain size and complexity it would make sense to hire your own support staff.

As said before , it depends on the chosen strategy for your specific business case.
Both options have their pro’s and con’s. This is only a matter of option.

Assuming that you go for the outsourcing option, let’s go now to a more daring hypothesis.


What about the CFO function complete / partial outsourcing ?

Would you do this kind of outsourcing ?

If yes what activities would you outsource ?

The pro’s and con’s of CFO outsourcing can be many and their efficiency can depend on the way you use the outsourced CFO. 

Most of the outsourced business functions are not business critical and are usually support services. But in the today’s economic environment business need to reinvent themselves and be very creative in order to succeed.

So why not consider the outsourcing of your CFO ?