CFO Outsourcing vs CFO Support Outsourcing: Main Differences

Posted by Mary Milorrie Campos
Mar 05, 2024
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At first glance, CFO outsourcing and CFO support outsourcing may seem similar. But in practice, these are two distinct outsourcing solutions that cater to different client types. 

CFO outsourcing and CFO support outsourcing are two distinct outsourcing solutions.

CFO outsourcing is the practice of subcontracting executive-level accounting duties to third-party service providers. This is best for start-ups and small to mid-sized businesses with a limited budget to hire an in-house chief financial officer (CFO). 

Meanwhile, CFO support outsourcing happens when corporate CFOs work with an external accounting support team. Finance chiefs can use this option to “do more with less” and ease their growing regulatory responsibilities. 

From a strategic standpoint, both outsourcing solutions can be effective in resolving gaps in operations. They also offer a smart approach to keeping overhead costs to a minimum. 

So, which of the two outsourcing solutions is right for your company? 

Here’s a table summarizing their differences. 

Outsourcing Solution 

How does it work? 

Best for 

Main benefit 

CFO outsourcing 

Outsourced CFOs provide high-level finance and accounting support to businesses 


Small to mid-sized businesses 

Cost-effective access to CFO services 

CFO support outsourcing 

Outsourced professional accountants provide end-to-end accounting support to CFOs 



Added capacity to do more with less 


Continue reading for a more detailed explanation. 


CFO Outsourcing: Best for start-ups and small to mid-sized businesses

Modern CFOs have a critical role in value creation. Aside from overseeing a business’s financial position, they’re also responsible for identifying growth opportunities, managing risks, leading digital transformation initiatives, and much more. 

However, some businesses have limited resources to hire a full-time in-house CFO. To address this limitation, business owners can switch to CFO outsourcing. 

This alternative solution gives businesses access to the knowledge and expertise of financial experts. Outsourced CFO services are also cost-efficient because they’re available on an hourly, part-time, or contractual basis. It all depends on their current needs and the amount they’re willing to invest in. 

Some of the outsourced CFO services offered today are: 

  • Business advisory 
  • Consulting 
  • Customer contract reviews 
  • Strategic planning 
  • Cash flow analysis 
  • And other high-impact finance functions 


Read Next: Due Diligence in Outsourcing Accounting Services 


CFO Support Outsourcing: Ideal for CFOs that need more capacity

The role of CFOs has expanded tremendously throughout the years. However, these changes have not only increased their value at work but also added significant responsibilities on their shoulders.  

Finance chiefs can expand their capacity by outsourcing an accounting support team. With outsourcing, CFOs can fill specialized accounting roles while staying within the budget — thus, doing more with less.  

For higher cost savings, they can also bring a portion of their operations to offshore locations. Through this, they can have more access to qualified accounting professionals who can provide quality service at a lower cost. 


Related: Your Comprehensive Guide to Outsourcing in Offshore Locations 


Outsourced CFO support services* mirror similar functions available in accounting departments. These services can either be technical or administrative, such as:  

  • Financial planning and analysis  
  • Tax management 
  • Audit and compliance 
  • Financial reporting 
  • Financial statements preparation 
  • Record to report 

With the necessary support from an outsourced accountant, finance executives can focus on more pressing matters. 


*For a complete list of outsourced CFO support services, you may get in touch with our team


Tips for a successful outsourcing engagement

Outsourcing can bring significant benefits to your organization — but only when you do it right.  

Whether you’re outsourcing a CFO or a CFO support team, keep in mind that your perspective matters. Instead of simply seeing it as extra support, you must look at it as a value-adding extension of your business. When you approach it this way, you can get things moving in the right direction. 

Identifying the scope of the outsourcing engagement is equally important. With this information, you can determine the roles you need to outsource and the level of support they must provide. And when you know what you need, you can be smarter at choosing a suitable service provider. 

On top of these considerations, you must also show your proactive involvement throughout the outsourcing engagement. Always remember that effective governance and good communication are essential aspects of your outsourcing success. 

Interested in a step-by-step outsourcing guide? Check out this article. 


Outsourced accounting solutions for CFOs 

Are you planning to build a CFO support team that can assist you with your growing accounting duties? If you do, consider outsourcing CFO support services with D&V Philippines.  

Our accountants have an extensive background in providing end-to-end accounting support to finance chiefs. They’re also equipped with regular training and strong management support. 

If you’re interested to learn more about our accounting solutions for CFOs, schedule a meeting with our team today. You can also read the case studies of our CFO-type clients or download our Premium CFO Solutions whitepaper to see if we’re the service provider you’re looking for. 

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Our Outsourcing: How to Make it Work guide explores how you can utilize accounting and finance outsourcing to drive growth to your business and add value to your processes.