What are the benefits for AI technology startups to hire a flexible Chief Financial Officer with Sam McQuade: For larger companies with more complex board structures, independent board members must be free of conflicts of interest. At times, a corporate action could put a member at risk of being personally conflicted. In these cases, a fractional CFO can be parachuted in as an interim board member to oversee the event, free of any conflicts. When Does a Company Need a Fractional CFO? The financial needs of a company will change depending on its size and stage of growth. There are four core financial roles required during the lifecycle of a company. These stages correspond with the skills needed from talent and range from an initial bookkeeper up to the traditional CFO role.
CFOs focus on financial operations, management, and strategic planning to aid founders in decision-making. At many companies, a CFO is a full-time, salaried employee, working solely on advising one business. For early-stage startups carefully managing their funds, this likely is not an option due to the high salaries associated with a CFOs years of experience. But if you’re in this scenario, you still need someone to play that vital role in order to move your startup towards growth. Fractional CFO services may be the answer! Read extra information at Sam McQuade CFO of Panterra Finance.
Do you want to hire your first CFO or wanting only some interim coverage? We provide CFOs for immediate short term objectives and longer term engagements. Flexible with fair pricing so you cover your business and don’t have to rush into a potentially bad and expensive full time hire. Sam McQuade CFO is the Founder and CEO of Panterra Finance. This worldwide Financial Partner Solution services is a leading innovator in the new economy of scale offering a new executive suite model with the Fractional CFO and Interim CFO. The Panterra Finance team with expert Interim CFO executives and Fractional CFO services brings with it a global financial leadership team to the new world economy. Describing Panterra Finance in his own words, CFO Sam McQuade stated : As Founder/CEO of Panterra Finance, I am on mission to help guide businesses to achieve success through thoughtful strategic financial collaboration.
How Chief Financial Officers (CFOs) Work: The chief financial officer is a member of the C-suite, a term used to describe the most important executives in a company. Alongside the CFO, these roles include the chief executive officer (CEO), the chief operating officer (COO), and the chief information officer (CIO). Becoming a CFO requires a certain degree of experience in the industry. The majority of people who end up in this position have advanced degrees and certifications, such as a graduate degree in finance or economics, and the Chartered Financial Analyst (CFA) designation. It also helps to have a background in accounting, investment banking, or analysis.
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.
Now, suppose there is a problem with the website. Maybe the server goes down, or maybe there is a bug in the code. In such a case, the smart contract will still be functional, and the transactions will still take place. This is because the smart contract is running on the blockchain, which is a decentralized network. Even if one node in the network goes down, the other nodes will still be up and running, and the transactions will take place. This is just a very simple example to show you how a DAO works. In reality, DAOs can be much more complex, and they can do many more things. For instance, they can be used to create decentralized versions of traditional companies or organizations.
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.
A CFO can improve the decision-making process by bringing facts, solid numbers, and asking the right questions. Another benefit to the business owner is the fresh perspective and insights brought by the CFO. This can have the added effect of making life a little less lonely for the entrepreneur. The CFO can be a sounding board and trusted advisor for new ideas and initiatives. Stakeholders such as investors, lenders and creditors react positively to the knowledge that a professional CFO has been retained. This takes on an added degree of importance when looking for outside investment, debt financing or positioning the company for sale.
The CFO function is evolving at lightspeed. With digital transformation and societal changes, the CFO role is rapidly turning into one of a “Chief Fiduciary Officer”, which is going beyond the traditional financials to look towards the future and lead long term value creation in a world of many unknown risks. Storytelling is a very powerful tool to engage and energize teams about value creation and potential pitfall areas. The traditional path of CFO usually starts with a solid foundation based on technical knowledge and then after about 15 years, the great leaders earn the coveted title.
Developing the Interim and Fractional CFO Concept with Experience: From the inside looking out, Sam McQuade continued to sharpen his skills and nurture the ideas and mission of Panterra Finance. He spent time in the executive suites of Dell, as a Finance Manager and a Financial Planning and Analysis Manager where he achieved a 400% revenue growth in the Swiss market. Other stops in corporate suites, each of which shaped the final innovative services offered by Panterra Finance. Find even more details on Sam McQuade CFO of Panterra Finance.
A fractional CFO helps determine how to get you from where you are to where you want to go. Growing a business requires strategic use of capital. For many fractional CFOs, one of their most important contributions will be providing a financial forecast that will act as a blueprint to achieve the growth in the most efficient, accelerated, and sustainable way possible. With a short-term (next 90 days), mid-term (rest of this year), and long-term (next 3-5 years) view of the business, a company can better anticipate its trajectory and cash position or requirements. It can make it easier to manage through the lean times, help determine when and how to secure loans or investments, anticipate future owner compensation, and help plan and prioritize future business decisions such as staffing, production, geographical expansion, etc.