Many Utah businesses are growing quickly but don’t yet need—or can’t justify—the expense of a full‑time chief financial officer. Fractional CFOs provide experienced, strategic financial leadership on a part‑time or project basis. In the current environment of high interest rates and inflation, this flexible approach can be a game changer.
What is a fractional CFO?
A fractional CFO is an outsourced finance professional who delivers high‑level guidance when you need it. This model gives you the expertise of a seasoned CFO without the full‑time salary and benefits.
Why hire a fractional CFO?
1. Cost‑effectiveness. Fractional CFOs work on a project or part‑time basis, providing access to senior‑level insight without the cost of a full‑time executive.
2. Reduced overhead. Because they are contractors rather than employees, you avoid paying benefits or providing office space.
3. High‑level expertise. Fractional CFOs typically have broad industry experience, bringing fresh strategies and knowledge of market trends.
4. Scalability. Services can scale up or down as your company grows.
5. Specialized knowledge. Many fractional CFOs have deep expertise in mergers and acquisitions, regulatory compliance, fundraising and other specialized areas.
6. Strategic guidance. They provide data‑driven insights for budgeting, investing and debt management.
7. Objective advice. As outsiders, fractional CFOs offer unbiased perspectives free from internal politics.
8. Faster onboarding. You can bring a fractional CFO on board quickly, minimizing leadership gaps during transitions.
9. Improved cash flow. They implement best practices that shorten the cash‑conversion cycle and enhance receivables collections.
10. Increased productivity. A fractional CFO frees your finance team to focus on core activities, improving efficiency.
11. Strengthened compliance. They ensure your company stays in line with industry regulations.
12. Enhanced internal controls. Fractional CFOs design control systems that deter fraud and embezzlement.
Why it matters in Utah
Utah’s resilient economy—characterized by strong employment and steady in‑migration—means many businesses are growing quickly. Yet smaller firms may not need a full‑time CFO. A fractional CFO provides the flexibility to manage complex finances, navigate high interest rates and scale operations without overspending on overhead. Cooper Norman’s bookkeeping & virtual CFO services give Utah companies access to experienced financial leadership tailored to their needs.
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