Quality advantages to hire a interim Chief Financial Officer with Sam McQuade CFO of Panterra Finance: Just like a full-time CFO, a fractional one provides such expertise and at the same time offers excellent flexibility and favorable cost advantages to serve the needs of smaller companies. A modern CFO’s responsibilities are varied and complex; thus, each company’s role requirements will vary depending on their situation. For some businesses, hiring a full-time CFO is beyond their needs and financial capabilities, despite the many apparent benefits gained from the leadership and strategic knowledge of a hire.
External Perspective On Financial Strategy: Internal teams can sometimes be biased when it comes to making decisions. A fractional CFO can provide an external perspective on your financial strategy and help you make sure that all financial decisions are made through verified research and data. Access To Industry Best Practices: A fractional CFO brings a wealth of knowledge to your team, which can be invaluable when making strategic financial decisions. Due to their flexibility, fractional CFOs have experience in many different verticals and industries. On the other hand, traditional CFOs tend to stick to a single industry and don’t move as often. See more details at Sam McQuade.
Searching to hire your first CFO or wanting only some interim coverage? We provide CFOs for urgent short term objectives and longer term engagements. Customizable with clear pricing so you cover your business and don’t have to get into a potentially bad and costly full time hire. The Fractional CFO and Interim CFO experiences gained by the executives assigned to these positions throughout Panterra Finance offers them a broad perspective of the dynamic changes in international markets. The part time CFO executives at Panterra Finance have access to worldwide teams that are proficient in and have initiated innovative strategies in projects centered on DeFi, Blockchain, Bitcoin, Ethereum, Crypto, Tokenization, ICO, IDO, and STO services.
CFOs may also help set technology direction, especially fintech, and make recommendations on everything from supply chain to marketing based on their fiscal insights and industry knowledge. The most-valued CFOs are visionaries — they have an eye toward the future, work closely with top leadership and aren’t shy about recommending strategic moves. The chief executive officer (CEO) is a company’s highest-ranking executive. Depending on corporate structure, the CEO may be responsible for all aspects of a company’s operational and fiscal health, or a president may share some duties. The CEO is the official face and voice of the company to press and analysts, the general public and, if applicable, the board of directors.
Financial reports including balance sheets and P&L and cash flow statements help both internal leaders and external stakeholders understand the financial state of the business, and it’s up to the CFO to attest that these statements are accurate and complete in accordance with generally accepted accounting principles (GAAP). Although private companies are required to file financial reports with the SEC only if they have $10 million or more in assets and 500 or more shareholders, many businesses create these statements anyway so they’re available should the company seek a bank loan or venture capital or equity funding.
To make you understand it in simple words, let me explain it with an example. Suppose there is a website that allows people to buy and sell products. This website has a smart contract that governs how the transactions will take place. When someone wants to buy a product, they will send a request to the smart contract. The smart contract will then check if the person has enough money to buy the product. If they do, then the transaction will take place, and the product will be sent to the buyer. If the person doesn’t have enough money, then the transaction will not take place.
We are your ally in managing business risks. In a world that is rapidly changing, we help you identify what that change means for your business and what measures you need to employ to protect it from a range of risks in the new economy.
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.
Many small and mid-sized organizations employ a bookkeeper or controller who maintains the financial system and records transactions in an accurate and timely manner. The CPA produces the tax returns and some basic performance analysis quarterly and at year-end. However, this leaves a significant gap in terms of the information and management reporting available. Business owners and entrepreneurs may lack the critical financial information needed for informed decision making; and for external purposes such as presentations to lenders or investors.
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.
While surveying the landscape of the 21st Century economic climate, Sam McQuade, CFO, CEO and Financial maverick realized that the benefits of the gig economy and off-site personnel had hit the preverbally glass ceiling at the executive floor. Large established companies, corporations and organizations were captive of contracted executives. These executives could be effective and efficient however they could also be playing the game of international finance with obsolete rules, models, and ideas. See even more info on Sam McQuade.
A fractional CFO is an experienced CFO who provides services for organizations in a part-time, retainer, or contract arrangement. This offers a company the experience and expertise of a high-end CFO without the in-house cost—salary, benefits, and bonuses—of a full-time CFO. Unlike a full-time CFO who oversees and maintains all general financial strategy or an interim CFO who performs CFO duties before or between CFO hires, a fractional CFO’s duties are typically on a project basis and specifically tuned to the company’s particular challenges or goals.
