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GREATER METROPLEX - Jeff Wehnes' startup faced a dilemma common to many young companies: plenty of business and financial concerns requiring a skilled and experienced chief financial officer, but not enough to justify hiring one full time. So, on the advice of his new corporate attorney and others, Wehnes hired a temporary CFO from CFO Advisory Services L.P.
"A lot of people don't even contemplate getting a CFO, early stage, and I think that's a mistake, unless you're a perSon who already has that experience inhouse," said Wehnes, president and CEO at VuCOMP Inc., a Frisco-based computer-aided medical detection systems developer. "Once a company has gotten past the kitchen-table stage, the first two things you need to do is hire a corporate securities attorney and a parttime CFO."
Temporarily outsourcing a company's CFO functions, is becoming more popular, as executives realize they don't have to hire a full-time officer to get the specific benefits a CFO can provide.
Smaller companies...