In today's business environment, many companies are turning to fractional resources for their talent needs. Fractional CFOs, in particular, are becoming increasingly popular. But why is this trend gaining momentum?

According to Chris, founder and CEO of Fresh FP&A, fractional CFOs bring a lot of value to organizations. They offer skills, experience, and expertise at a fraction of the time, energy, and effort it would take to hire a full-time CFO. This is especially important for companies that may not be able to invest in new resources or are experiencing financial difficulties.

The cost of hiring a full-time CFO goes beyond just salary, as there are additional expenses such as bonuses, recruiting, and investment time of people. Furthermore, there's a lead time of four to six months before a new CFO can become operational, which can be detrimental to an organization in need of immediate financial guidance.

Fractional CFOs provide the flexibility that organizations need, allowing them to focus on quality rather than the number of clients. Instead of just being another vendor or consultant, fractional CFOs aim to help companies along their journey and empower them with the skills and experience needed to succeed in the future.

The trend towards fractional CFOs is not limited to this role alone. Other fractional roles such as Chief Marketing Officer, Chief Revenue Officer, and Chief Human Resource Officer are also gaining popularity.

As the business environment continues to evolve, companies must adapt to stay ahead of the competition. Fractional CFOs and other fractional resources provide a flexible and cost-effective way for organizations to access the expertise they need without committing to a full-time hire. It's a trend that is here to stay, and many are capitalizing on the opportunity to do something new.

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