Outsourcing your CFO might at first sound like a drastic move, and often the perception when this is first mentioned is to shift over to using an offshore service in India or the Philippines, whilst there are services that offers such as solution, often the better solution is to use the services of a specialist CFO recruitment boutique such as the rapidly scaling nice provider FD Capital Recruitment.
What we can offer is a truly flexible solution, we have CFO’s available immediately and ones who are flexible with the time required, so you can find a Fractional CFO who can work for your business one day per week, two or three days and all the way to full time hours.
The advantages of using an Outsourced CFO are really significant, here are just some of the benefits
- Fractional availability which also means fractional costs
- Attracting candidates which, otherwise would not be interested in joining a SME or early-stage business
- Access to candidates with stronger skills and more experience that available elsewhere on the market. Consider a CFO who works for 3 different SaaS businesses, they are likely to be experiencing just the exact same challenges as your business but have 3 times the experience to draw upon.
How does Outsourcing your CFO work?
We reach an agreement with your business on how many days per week or month are required then source a candidate who has availability to match, typically candidates will already work with us a few days per week and are therefore known to us and tried and tested.
We bill you based on the days worked and pay the CFO an agreed rate often to a personal service company if they are a consultant or via our umbrella payroll partner if they have a role of a company office such as CFO or FD.
What sort of costs are involved?
Typical day rates vary depending on the sector, location and experience level, but a guide is between £600 and £1,200 per day, which whilst a broad range does also indicate the range of skills our team has to offer. The average day rate in 2021 was £750 and in 2022 it is more like £850 reflecting that this year has been particularly candidate driven.
How to I find an Outsourced CFO?
That’s the easy part, just reach out to us using the contact us page or call our main number, which can be found at the footer of this page, and one of our team will reach out to you and arrange an initial no obligation chat.
What locations do you cover?
FD Capital are based in Great Portland Street, London so as you might imagine our focus is mostly on London and the South- East, that said many roles these days are fully remote, so it is not unusual to find a CFO based in the Midlands working for a London based business or vice versa.
Do roles return back in-house?
Things do change in business and sometimes a role is outsourced during the early stages of a business and its development and starts as a one or two day per week role, but gradually grows to become full time. From time to time, we see roles like this moving to become more traditional in-house roles, and like other agencies we charge a permanent placement fee to cover our costs in this situation.
If you are considering taking on an outsourced CFO, then reach out to us today on 020 3287 9501 and we can discuss the options with you further.
About FD Capital
Outsourcing your CFO
We offer three solutions for businesses and organisations: –
- Part-Time CFOs. These professionals give you the skills and experience of having a finance director on your team on a part-time or fractional basis, allowing them to focus on specific concerns for your business or support your existing team. Our part-time FDs and CFOs are available on a fractional time basis.
- Interim CFOs are available for short term assignments, such as covering maternity leave or focusing on a specific issue within your business.
- Full-Time CFOs. Our team will help you find the right senior financial professional for your business – one that ticks all the boxes and can bring a fresh perspective to your company.
From an administrative point of view there are different options available for an Outsourced CFO solution or an Outsourced FD, the CFO can be on our payroll, and we invoice you, they can operate via their own personal service company, or we can use an umbrella payroll service. Whichever option works best for your company we can accommodate, the benefit of an Outsourced Chief Financial Officer is that outsourcing means that your organisation only pays for a fraction of the CFO’s time and therefore the costs are that much lower than having a full time CFO.
We pride ourselves on our ethical approach. We always handle each assignment and opportunity with the same professional and confidential. Recruiting Chief Finance Officers / CFO recruitment is one of our mains strengths.
We can find the perfect candidate for you either on a Part-Time or Full-Time basis.
STREAMLINING YOUR RECRUITMENT PROCESS
At FD Capital, we can oversee the recruitment process and find you the Chief Financial Officer that is the perfect match for your company. We’ve worked with dozens of companies who have previously had little to no luck during the hiring process. Most of our CFO’s are ICAEW members.
Call us today for a no obligation initial discussion
CALL 020 3287 9501
Here at FD Capital Recruitment we specialise in London and FD’s and CFO’s are all we do, so you can be certain we understand your requirements and can find you the perfect candidate for your role and business.