What does a Life Sciences Fractional CFO Do?

What does a Life Sciences Fractional CFO Do?

Scientific founders in life sciences and cleantech have substantial research and development mandates that absorb the majority of their time. Whether you're pre-clinical or moving towards regulatory approvals, a CFO will help you build the foundation of your firm.

Inflation is increasing to levels not seen in the last 40 years and in this current macroeconomic environment, late stage valuations are tightening up. Accordingly, early-stage ventures must manage their cash burn and runway to ensure that they have sufficient liquidity to meet the milestones agreed upon with investors. Building a strong finance team is central to the management of a growing firm.

Chief financial officers help life sciences founders establish their strategic goals, set milestones and monitor performance. Regular communication between a founder and their fractional CFO allows for timely corrections to ensure goals are met. CFOs help founders build their finance function, including the development of the controllership and financial analyst functions. A strong CFO must be able to help founders manage the direction of the firm through people and processes. They can do this by ensuring that your financial forecast (and financial model) are consistent with your business plans and expectations. Once expected business results have been quantified in a forecast, your CFO can help ensure that the controller is properly monitoring performance against those goals and reporting back to the senior leadership team.

Controllers are also central to the financial management of a start-up firm. Controllers ensure that your business processes, internal controls and accounting workflows are properly designed and you know that costs and cash positions are being managed. Controllers help the CFO and founder ensure that corporate governance is looked after and that financial reporting to investors, regulators and other stakeholders is reliable. By overseeing the organization's financial (and operational) business processes, your Controller plays a lead role in creating an ethical and high quality reporting environment. Your Controller also typically reviews the accuracy of financial analyst management reports before submitting them to the senior leadership team.

Financial analysts prepare management reports that help founders and their leadership team make decisions about their budgets and the risk of not achieving critical milestones. Financial analysts should be well-versed in management accounting, data presentation and advanced MS excel skills. They also need to understand the organization's goals so that data can be presented in a manner that highlights risks and opportunities.

BluePrint CPAs is specialized in CFO mandates, controllership and financial analyst reporting. We can provide professional outsourcing of your entire finance department. If the current market conditions around fundraising, investor demands and cash management are causing you some angst, we'd consider being part of your solution.

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Rebecca Scott
Web Designer

Rebecca is a Web Designer at BluePrint CPAs. She is a graduate of St. Clair College’s Internet Applications and Web Development Program and has worked as a freelance web designer before joining the BluePrint team.

BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.

Kit Moore, BluePrint CPAs President & Lead Tax Advisor
Kit Moore, CPA, CA
President & Lead Tax Advisor

Kit Moore, is an entrepreneur that simplifies digital strategy for other business owners. The team at BluePrint CPAs can assist you with web design, development, analytics, management systems and, more importantly, your overall business strategy. The toughest part of digital transformation is re-training your team - and we have pros to help with that as well.

BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.

Kit Moore, BluePrint CPAs President & Lead Tax Advisor
Kit Moore, CPA, CA
President & Lead Tax Advisor

Kit Moore, is an entrepreneur that simplifies tax and financial strategy for other business owners. The team at BluePrint CPAs can assist you with financial technology, tax strategies, mergers & acquisitions, succession & exit planning and, more importantly, your overall business strategy.

BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.

Joe Marra, MBA
Senior Associate, Strategy Consulting

Joe is a Senior Associate, Strategy Consulting at BluePrint CPAs. He is a recent graduate of the MBA Program at the Schulich School of Business and has most recently worked for Bayer Inc and the Ford Motor Company of Canada. His experience in marketing, sales, and human resources spans various industries including hospitality, logistics, life sciences and automotive manufacturing. Joe loves working with entrepreneurs to develop their digital strategies and help them grow their business.

BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.