One thing business owners hate is surprises (unless, of course, it’s one of those elusive pleasant surprises, but when is that ever the case?). The much more common unpleasant surprise is enough to give a business owner a gray hair or two. Chief Financial Officers, or CFOs, need to tell the business owner when it is cloudy, not when it is raining. This is a key role of the CFO: reducing the element of unpleasant surprise. Identifying cash flow problems before they occur and identifying inventory overstocks or shortages before they occur are just a few of many trouble spots that can be identified with the help of an outsourced CFO.
Today’s business owner wears so many hats and needs to be able to make decisions quickly. A temporary CFO can be brought in to identify and assess the risks involved in those quick decisions in a timely manner, so the business owner won’t miss a beat.Today’s CFO can also do many things to help reduce the business owner’s risk. One such example is looking into the Corporate American Express Card. Qualifying for certain classifications of corporate American Express Cards will just have corporate liability and no personal liability.