iCFO Profit Center or Cost Center?
A world-class fractional chief financial officer should be a profit center and generate verifiable cash savings several times in excess of any compensation. Merely handling accounting, finance, and administrative functions is a low profit level undertaking. However, recognizing opportunities and implementing sophisticated profit-generating strategies is what we are all about. For example, after six months as fractional chief financial officer for a high-tech manufacturer we received a standard landlord-mailed court notice and, with some investigation and surprising FaceBook revelations, we generated:
- Over $800,000 in real cash savings
- Eliminated personal lease guarantees
- Created full lease assignability with landlord consent
- Eliminated landlord tax escrow payments
- Eliminated building capital improvements
- Substantially improved the balance sheet
- Spread tax gains over eight years with four years deferred
For more details on the facts of this amazing win-win story and the results achieved, please download the White Paper.