Part-time CFO Service Case Study
Spotlight on success:
How the Clarity FI’s part-time CFO Service Led to Better Reporting and New Business Insights
Case Study #6 CFO Services
Challenges and Opportunities
After only three years in business, a young entrepreneurial community bank had exciting prospects for growth and was one of the best performing banks for its age nationwide. While many people don’t think of a bank as a small business, many community banks have less than 50 employees and are just one more small business trying to find their way to success. Like most young businesses with limited resources, it could not yet afford to hire a full-time Chief Financial Officer (CFO).
Finally, the bank also needed to understand key drivers of profitability and management also had specific questions about the financial effectiveness of their sales team. The Clarity FI team built financial models to provide insights on the break even point for each major product and helped the executives understand the value and opportunity generated by their sales team. Armed with these new insights the bank reduced a few key expenses, confidently expanded its financial products sales force and boosted profitability.