Business Insider reports that AppNexus has made another step making it appear as if the company is getting ready for an IPO. They recently hired Jonathan Hsu as the new CFO/COO. Hsu has been an investment banker at JP Morgan, but more notably had been the CFO/COO and CEO of 24/7 Media while it was a public company and led it through its $649 million acquisition by WPP Group in 2007.
As a CFO has the ability to make a significant difference in whether or not a business can be taken to the next level, utilizing CFO services can be essential for its financial health and overall success, no matter what size the company is.
A smaller business typically has different needs than a large corporation, with the CFO often responsible for a wider range of tasks. Utilizing a professional firm like GoodAccountants.com that is able to deliver CFO services for small and mid-size companies as well as oversee their financial situations which can become more complex as they grow, can be extremely beneficial. While a smaller company may not have enough room on the payroll to hire a fulltime CFO, CFO services can be utilized as an effective strategy for making both long-term and day-to-day decisions without having to go over budget.
In the long run, taking advantage of these services can actually pay for itself by increasing the bottom line over time. The CFO can help devise revenue increasing strategies, enhance profitability and cash flow in addition to keeping track of day-to-day financial operations and working on a number of financial projects and tasks.
Without appropriate financial control, a business is destined to fail. A professional, qualified CFO can take an in-depth, critical look at the business to identify where cash is coming in and going out. A strategy can then be designed to ensure that the company doesn’t run out of cash by plugging leaks, and allow more cash flow to come in.
Even by engaging a CFO just on a part time basis, the commitment reveals to others that you are serious about your business and its future. It shows vision, good judgment, and that you are confident in your organization. It helps to raise your credibility, and the impression of investors, suppliers and customers, giving stakeholders greater confidence in dealing with your company.