What Exactly Can a CFO Consultant Do for My Business?

If you're running a growing company, you're probably wearing too many hats. One minute you're managing operations, the next you're in a sales meeting, and somehow you're also expected to keep tabs on the finances. If you're feeling like you're flying blind when it comes to your company's financial strategy, you're not alone. That's where a CFO consultant comes in.

A CFO consultant can be a game-changer for businesses in growth mode, during a turnaround, or in preparation for investment or acquisition. They bring senior-level financial strategy to the table without the cost and commitment of a full-time hire. In this article, we’ll walk through what a CFO consultant does, when you might need one, what kinds of services they offer, and how to find the right fit for your business.

What Does a CFO Consultant Do?

The core function of a CFO consultant is to provide strategic financial guidance. But this role goes way beyond just crunching numbers or keeping the books balanced. Think of a CFO consultant as your part-time copilot for financial decision-making.

Here are a few of the major functions a CFO consultant can handle:

• Financial forecasting and modeling

• Cash flow management

• Strategic planning and budgeting

• Cost control and margin analysis

• Fundraising strategy and investor relations

• Preparing for acquisitions or exits

• Building scalable financial infrastructure

CFO consultants also act as a bridge between the finance team and the rest of the executive leadership. In many businesses, the financial strategy is disconnected from day-to-day operations. CFO consultants help bring those two worlds together. They make financial data meaningful for decision-making and ensure that the company is not only profitable now, but positioned for long-term sustainability.

When Do You Need a CFO Consultant?

There are a few key moments in a company’s journey when bringing in a CFO consultant makes a lot of sense:

• Rapid growth: You’re scaling quickly, but your systems, cash flow, or planning can’t keep up.

• Fundraising or M&A: You’re preparing to raise capital, acquire another company, or be acquired yourself. You need a finance pro to get your house in order and communicate with investors.

• Strategic pivot: You're making a big shift in your business model or product focus, and you need help understanding the financial impact.

• Cash flow challenges: You’re profitable on paper but constantly strapped for cash. A CFO consultant can get to the root of the problem.

• No senior financial leadership: You have a bookkeeper or controller but no one guiding the overall financial strategy.

Let’s look at an example. Say you're the CEO of a SaaS company that just hit $5 million in annual revenue. You have a bookkeeper and a controller, but you're trying to figure out how much you can invest in product development without hurting your cash runway. A CFO consultant can build out a financial model that shows various scenarios and helps you make a confident decision.

How Does a CFO Consultant Work with Your Team?

One of the big questions CEOs ask is, "How will this person fit in with my existing team?"

A CFO consultant doesn’t replace your bookkeeper or controller. Instead, they work with them. The consultant focuses on strategy while the rest of your finance team handles the day-to-day transactions and reporting.

Here’s how it might look in practice:

• The controller manages financial reporting, payroll, and compliance.

• The bookkeeper handles invoicing, accounts payable/receivable, and transaction entry.

• The CFO consultant builds forecasts, leads budget planning, prepares board presentations, and collaborates with the CEO on strategic decisions.

They also interact with the rest of the executive team. For example:

• The head of Sales might work with the CFO consultant to align sales goals with revenue forecasts.

• The COO might collaborate on cost analysis and operational efficiencies.

• The CEO depends on the CFO consultant to assess risk, evaluate investment opportunities, and maintain financial visibility.

This kind of collaboration ensures that financial planning isn’t siloed but is integrated into every department’s decision-making.

What Makes a Great CFO Consultant?

Not all CFO consultants are created equal. You want someone who is more than just a finance expert—you want a strategic partner who understands your industry and can help you navigate the path ahead.

Here are a few traits to look for:

• Experience: Look for someone who’s been a CFO before, ideally in your industry. They should have seen both success and adversity.

• Communication skills: A good CFO consultant can explain complex financial concepts in plain language.

• Strategic thinking: You want someone who thinks like an owner, not just a number cruncher.

• Cultural fit: They need to mesh well with your leadership team and values.

• References: Don’t be afraid to ask for case studies or client testimonials.

How to Find the Right CFO Consultant

Start by defining your goals. Are you looking to raise capital? Improve margins? Prepare for a sale? The clearer you are about what you need, the easier it is to find the right fit.

You can find CFO consultants through:

• Referrals: Ask peers, investors, or board members for recommendations.

• Professional networks: LinkedIn and local business groups can be great resources.

• Firms like Preferred CFO: These firms vet their CFOs and match you with someone who fits your needs and stage of growth.

Before hiring, make sure to:

• Interview multiple candidates

• Ask about their process and communication style

• Clarify their availability and scope

• Review pricing and contract structure

Most importantly, trust your gut. This person will be a key advisor, and you need to feel comfortable with their approach.

Services Offered by Preferred CFO

Preferred CFO is one of the most well-known firms in the outsourced CFO space. Our team of experienced CFOs works with companies across industries to deliver high-level financial strategy and support. Some of the key services we offer include:

• Financial Forecasting & Modeling: Preferred CFO builds robust, scenario-based forecasts so business owners can make data-driven decisions.

• Cash Flow Planning & Management: We help companies understand where their money is going and ensure they have the cash needed to support growth.

• Strategic Financial Planning: From pricing strategies to cost analysis to growth planning, we partner with leadership to align financial goals with business goals.

• Capital Raise Preparation: Whether it’s a Series A round or a strategic investment, Preferred CFO helps companies get investor-ready with clear financials, pitch support, and due diligence preparation.

• Exit Strategy Support: Selling a business is complex. We help you maximize valuation and ensure financials are tight when it matters most.

We also offer interim CFO support when a company is between full-time hires, or fractional CFO services for companies that need high-level help a few days a week or month.

Final Thoughts

Bringing on a CFO consultant can be one of the smartest investments a company makes. Whether you're navigating growth, facing financial challenges, or preparing for a big opportunity, the right consultant can provide the clarity and confidence you need to make the next move.

CFO consultants don't just look at the numbers. They look at the story the numbers are telling—and help you write the next chapter in your company's success.

If you're ready to take your financial strategy to the next level, working with Preferred CFO might be the right next step. Our team has helped hundreds of businesses move from reactive to proactive financial leadership, and we can do the same for you.

So the question isn't whether you can afford a CFO consultant. The question is: Can you afford not to have one?

To learn more, contact Preferred CFO and schedule a no-obligation conversation. We would love to help you!