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Industry expertise
A traditional chief financial officer (CFO) works full-time for one company, often after having spent a career climbing the finance ladder in their given sector. As a result, they typically have deep financial expertise in a specific industry, but a limited perspective.
In contrast, consulting CFOs—also known as fractional or interim CFOs—take on multiple clients at once, often in various niches. This helps them develop a broader range of experience, allowing them to bring fresh tactics and novel perspectives.
For example, a consulting CFO who has worked in SaaS might help a construction client implement a subscription-based revenue model, smoothing out their cash flows and increasing customer lifetime value.
In addition, it’s often easier to find a fractional CFO service that has previously served companies similar to yours. This first-hand expertise can be invaluable, giving them a better understanding of your unique financial strategy from the start.
For instance, Zeni specializes in serving startups across industries like e-commerce, SaaS, and manufacturing.
Whether you’re just starting out, gaining traction, or scaling rapidly, we work with companies like yours every day, making us one of the best outsourced CFO services for startups.
Flexible support
Traditional finance executives offer singularly dedicated financial leadership, exclusively supporting you year-round. This is one of their main advantages, but it also means you have to pay them a full-time salary and benefits.
Unfortunately, that can be prohibitively expensive for many companies, especially early-stage startups that are working with limited runway. Typically, the average full-time CFO’s salary ranges from $300,000 to $500,000 per year.
That’s where CFO advisory services come in. They offer fractional financial support on demand, so you only pay for what you need—when you need it.
This flexibility allows you to dial up support during periods of rapid growth or uncertainty, then scale back to conserve cash during less challenging times.
For context, growing startups often need between 15 and 25 hours of virtual CFO services per month. At an average hourly rate of $300 per hour, that will likely cost you roughly $4,500 to $7,500 per month.
Even at the high end, you could save hundreds of thousands of dollars compared to the cost of a full-time financial professional.
Some providers also provide flat-rate pricing for pre-defined services, which can help keep monthly expenses predictable. For example, Zeni’s fraction CFO services start at just $1,350 per month, though actual pricing depends on your monthly expenses.
Strategic financial services
Depending on your needs, an experienced CFO can offer many different types of financial services. While their skill sets may vary, you can expect to find professionals capable of helping you with processes like:
Cash flow projections: Consulting CFOs can build detailed forecasts of incoming and outgoing cash. This can help you anticipate potential shortfalls, time payments strategically, and maintain sufficient cash reserves.
Financial modeling: These experts can create financial models that help you simulate potential scenarios. This can help you analyze strategic initiatives, such as changes in pricing, by predicting potential outcomes.
Equity fundraising: A fractional CFO consulting service can guide your fundraising preparation, such as by generating financial statements and creating pitch decks. They can also help you navigate negotiations and due diligence.
Business budgeting: CFO consulting services can build a personalized spending plan aligned with your strategic planning and risk management. They can also monitor performance throughout the year to help keep you on track.
Just as the benefits of a fractional CFO model make it easier to find a financial expert with experience in your industry, they can also help you connect with one who specializes in the services you need most.
All-in-one, AI-powered platform
Beyond our startup expertise, what sets Zeni’s interim CFO service apart is its integration with our full-service financial management platform. Instead of a standalone offering, it connects seamlessly with our bookkeeping, tax, and payroll services.
This means our CFOs start with a deep strategic insight into your financial operations through your financial reporting. It also helps eliminate the systemic inefficiencies that typically arise when you’re juggling multiple providers.
In addition, clients gain access to our suite of essential financial products, which include business checking accounts that yield up to 3.34% APY, business credit cards that earn 1.75% cashback, and payout software that streamlines bill pay.
All of our products and services are enhanced with the power of AI, improving efficiency and unlocking new capabilities. For example, Zeni can automatically:
- Execute vendor payment and employee reimbursement approval workflows
- Audit your bookkeeping to prevent errors and ensure GAAP compliance
- Give actionable advice based on real-time insight into financial trends and KPIs
Schedule a free consultation with one of Zeni’s professionals to learn how we can help you navigate your toughest financial challenges.
