What are the advantages for AI startups to hire a fractional Chief Financial Officer with Sam McQuade CFO today
IT startups benefits when hiring a interim Chief Financial Officer by Sam McQuade CFO in 2023: Running out of cash is one of the top reasons why startups fail. Besides having a tight grip on company finances and cash flow management, a growing company will need capital injections to grow or to sustain operations in a downturn. Fractional CFOs can assist with fundraising (typically starting at Series B) or with debt (e.g., negotiating bank loan terms). Because of their blend of financial acumen and strategic insight, they can expertly parse the numbers being negotiated and help plan where the investment can take the business.
Gain A Better Understanding Of Financial Health: Running a business means monitoring all the numbers for accuracy and compliance.. A fractional CFO clarifies complicated financial data and constructs different types of financial projections based on the data. For example, CFOs use cash flow projections to help founders understand how much money is coming in and out of the business and where it is coming from. Strategize For Long-Term Goals: A fractional CFO can help you look to the future by strategizing toward long-term goals. They can help you develop strategies to ensure your business is on track for success and pursuing its ultimate ambitions. For example, by creating financial objectives and meticulously tracking performance KPIs, founders are better positioned for growth and expansion. If you know you need to purchase updated equipment as your business grows, a fractional CFO will help you build a plan to fund the needed purchases. See even more info on Sam McQuade.
Do you want to hire your first CFO or wanting only some interim coverage? We offer CFOs for immediate short term projects and longer term engagements. Flexible with fair pricing so you solve the needs of your business and don’t have to rush into a potentially bad and expensive full time hire. Along with the core services of C-Suite Level Executives in Finance and a contingent of Fractional CFO talent and experienced Intermittent CFO innovators, Panterra Finance services include: international Business – Experts in Global Tax Liabilities and Cash Flow Strategies, investments and planning. Mergers and Acquisitions (M&A) Advisory – Providing valuations as well as independent perspectives on offers and options. Internal Audits – Independent internal auditors with in-depth reports highlighting risks and vulnerabilities. Risk Management – A worldwide footprint enables Panterra Finance to identify risks and opportunities in the new world economy. Compliance Review – Actionable understanding when entering markets with new rules, regulations, laws and international asset allocation decisions.
CFOs are the most senior financial officers in an organization. They report directly to the CEO and work closely with the board of directors. While the CEO occupies a higher-level position from an org-chart standpoint, in high-functioning companies, the CFO and CEO work closely and collaboratively, with CFOs serving as sounding boards, strategists and risk mitigators. A financial controller is a CPA (certified public accountant) and often holds an MBA. Financial controllers are responsible for preparing financial reports and analyzing financial data. The financial controller is generally in charge of the accounting function in an organization and reports to the CFO. A controller may be part of a team that includes bookkeepers, accounts receivable/payable clerks, payroll specialists, tax preparers and accountants.
Strategy and forecasting involves using available data and reports, both internal and external, to advise on areas including product development, market expansion, human capital management, M&A and capital investments. It’s also where structured planning and forecasting exercises, like scenario planning and FP&A, fall. Controllers, treasurers and FP&A analysts are invaluable members of the team, but in all these areas, the buck stops at the CFO’s desk.
The main goal of a DAO is to decentralize power. In a traditional organization, the power is concentrated in the hands of a few people. This can lead to corruption and cronyism. With a DAO, the power is decentralized, and it is distributed among all the members of the organization. This makes it much more difficult for any one person or group of people to abuse their power. A better real-life example is Ukraine DAO, which is a fundraising effort to help the people of Ukraine in the current war against Russia. It collects and distributes funds to various Ukrainian charities. The funds are collected through Ethereum’s smart contracts, and they are then distributed to the charities according to the code that governs the DAO.
Are you looking to expand your business overseas? Our experts are able to help you at any stage. We will first start by understanding your vision and global tax and cash strategy. Once aligned, we will help execute the financial, legal, compliance and talent solution activities to build your entity and team.
The last two to three decades have seen a paradigm shift in the lives of almost everyone. The Internet and the web particularly have given a whole new meaning to the way we communicate and interact with each other. Web1.0 was all about connecting people and devices. Web2.0 was all about connecting people with each other. Recent years have seen the development of Web3.0 which is an entirely different ball game. Web3.0 is all about connecting people with machines and devices to create a more efficient and trustworthy internet. This new web is built on the back of blockchain technology which allows for decentralization, transparency, and security. One of the most exciting applications of this technology is the DAO or decentralized autonomous organization. With everything Web3.0, some concepts are harder to understand than others for now. With increased adoption, they will enter the mainstream sooner.
The CFO is responsible for effective and efficient financial operations including accounting, financial reporting, cash management, budgeting, maintaining controls and issues such as capital structure, investor relations, and financing. The CFO is also involved with strategic planning and financial analysis related to mergers, acquisitions, and divestitures, as well as providing expert financial and operational guidance to business owners to maximize cash flow, minimize business risk, and increase the value of the enterprise.
CFOs usually are responsible for key finance functions which have included broad categories of accounting, treasury, financial planning and analysis (FP&A), controls, compliance, tax, and audit. Going forward towards 2022, the same functions exist, but they are getting more automated, so the CFO can focus more on forward perspectives. Storytelling requires strong emotional intelligence and solid communication skills. Here’s the four key areas the CFO can be messaging: Why & Purpose: Communicating the “Why” is one of the strongest messages the CFO can deliver. It’s not only the reason for the corporate existence, but it’s also very motivational for all the stakeholders. This message should be repeated frequently and consistently to make people feel the genuine purpose.
In these early years of creating innovations in the corporate C-Suite, Sam McQuade nurtured and created a maverick approach to new finance operations for Stryker as it broke through to the lucrative emerging markets in Central and Eastern Europe (CEE)). While approaching the markets in the growing economies of Poland, Czech Republic, Hungary, Croatia and Romania, Sam McQuade was recognizing the need for Interim and Fractional CFO’s for the avalanche of incubators and startup companies in these underdeveloped economies that were on the cusp of being integrated into modern International Finance systems and markets. See additional info at Sam McQuade.
The philosophy of “What got you here won’t get you where you want to go” is ever-present in business once past the initial start-up phase. Businesses launch additional products, open new territories, open additional locations, transact in new currencies, and deal with increasing regulatory requirements. These all require more advanced thinking, tools, and techniques. Many bootstrap startups begin with a part-time bookkeeper and simple systems but later find that they cannot sustain additional business growth and complexity. Systems, resources, processes, and strategies must scale in sophistication as a company grows.