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Article: Businesses lean on outsourced CFOs during down times: smaller companies find that 'renting' finance professionals helps them fill in gaps in expertise.(PART-TIME)
- Article from:
- San Fernando Valley Business Journal
- Article date:
- October 12, 2009
- Author:
CopyrightCOPYRIGHT 2009 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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For years the owners of Brent's Deli were unable to benchmark the performance of their two locations in the Valley against each other, in a way that would help the restaurateurs set a strategy for growth.
This all changed about a year ago when the company decided to outsource a Chief Financial Officer.
"For a company our size we didn't really need a full-time CFO, but [an outsourced CFO] has been invaluable to us" said Marc Hernandez, co-owner of Brent's Dell.
"He's helped keep our numbers in line, focusing on key performance indicators, looking at trends, looking at gross margins, he's really become a strong ally, and we're using the data he ...