I first realized the opportunity for Triumph CFO Services when I met a man and his son who ran a small electrical company. They explained that their accounting firm was insisting that they hire a competent financial executive (preferably through their placement service) to be the chief financial officer of the company. The owners recognized their need for this expertise but had many concerns, the largest being the additional cost of hiring a full-time CFO given the size of the company.
After talking for a while and reviewing the company operations it was clear that the expertise needed was not enough to justify hiring of a full-time CFO.
I gave them my opinion that (at this stage) what the company needed was better, timely reporting with additional help provided by the accounting firm or outside consultants.
Although my advice was helpful and saved the company some money, I knew that what they needed was a part-time CFO versatile enough to provide the skills needed in today’s business environment. An executive experienced with reporting requirements, cash management, payroll, human resources, risk management and strategic planning - a leader comfortable meeting with auditors, attorney, bankers, consultants, lawyers, and private equity companies.
These are the skills that Triumph CFO Services will provide.
Thomas M. McCafferty
Founder, Triumph CFO Services Inc.