For startup founders, financial management becomes increasingly demanding as the business grows. What begins with basic bookkeeping and expense tracking quickly evolves into cash runway planning, investor reporting, financial forecasting, and strategic capital allocation.

At this stage, companies need more than accurate financial statements. They need financial leadership that connects operational performance with long-term business objectives.

CFO services provide strategic financial management, planning, and oversight to help companies make informed decisions, manage financial risks, and build scalable operations.

For startups and international companies operating in Israel, outsourced CFO services can also provide the financial infrastructure needed to manage local operations while maintaining visibility across global entities.

What Are CFO Services?

CFO services encompass the strategic and managerial responsibilities typically performed by a Chief Financial Officer.

These services may be delivered by an internal executive, a fractional CFO, or an outsourced financial services provider.

Unlike bookkeeping, which records financial transactions, CFO services focus on interpreting financial information, evaluating future scenarios, and supporting executive decision-making.

The precise scope varies according to the company’s growth stage, financial complexity, and internal resources.

10 Core Services a CFO Provides

1. Financial Strategy and Business Planning

A CFO develops financial strategies aligned with the company’s business objectives.

This includes evaluating growth opportunities, determining capital requirements, and translating strategic priorities into measurable financial plans.

For technology startups, financial strategy often involves balancing investment in product development, customer acquisition, and international expansion against available funding.

2. Financial Planning and Analysis (FP&A)

Financial Planning and Analysis is a central component of CFO services.

It typically includes:

• Annual and multi-year budgeting
• Revenue and expense forecasting
• Budget-versus-actual analysis
• Financial scenario modeling
• Departmental cost analysis
• Key performance indicator (KPI) monitoring

Effective FP&A enables management to understand not only what happened financially, but why it happened and how performance may develop.

3. Cash Flow and Runway Management

Cash flow management is particularly important for venture-backed companies operating before profitability.

A CFO monitors cash inflows and outflows, develops liquidity forecasts, and evaluates the impact of hiring, investment, and operational decisions.

Key metrics include net burn rate, cash runway, working capital, and projected funding requirements.

The objective is to provide management with sufficient visibility to anticipate liquidity constraints and make timely decisions.

4. Fundraising and Investor Relations

Startups preparing for financing rounds require credible financial information and a clear understanding of their capital needs.

CFO services may include:

• Building financial models for fundraising
• Preparing investor presentations and financial materials
• Supporting financial due diligence
• Developing capitalization and dilution scenarios
• Preparing board and investor reports
• Monitoring financial commitments following investment

A CFO helps ensure that financial projections are supported by transparent assumptions and consistent reporting.

5. Financial Reporting and Management Dashboards

Financial reporting translates accounting information into actionable management insights.

A CFO oversees the preparation and interpretation of reports covering revenue, expenses, profitability, cash flow, and operational performance.

For SaaS companies, relevant metrics may include ARR, MRR, customer acquisition cost, lifetime value, gross retention, and net revenue retention.

Reporting requirements vary by business model, and metrics should be selected based on their relevance to management and investors.

6. Financial Controls and Risk Management

As companies scale, financial controls become essential for protecting assets and maintaining reliable information.

CFO responsibilities may include establishing approval procedures, expenditure controls, reporting policies, and financial risk assessments.

These processes support accountability and help reduce exposure to operational errors, fraud, and financial mismanagement.

7. Accounting and Controllership Oversight

Although bookkeeping and controllership are distinct functions, CFO services often include oversight of these activities.

This may involve supervising financial close processes, reviewing management accounts, coordinating audits, and ensuring reporting aligns with applicable accounting standards.

Outsourced finance providers may offer these functions as complementary services within a broader engagement.

8. Pricing, Unit Economics, and Profitability Analysis

Financial leadership helps companies understand the economic drivers of their business.

For startups, this includes analyzing gross margins, customer acquisition costs, contribution margins, and the profitability of different products or customer segments.

A CFO can evaluate pricing strategies and assess whether growth is creating sustainable economic value.

9. Financial Systems and Process Optimization

Growing companies require financial systems that can accommodate higher transaction volumes and more complex reporting.

CFO services may include evaluating financial software, improving reporting workflows, introducing automation, and strengthening data quality.

Well-designed systems reduce manual work and provide management with more timely financial information.

10. International Financial Management

Companies operating across borders face additional financial challenges.

These may include multi-currency forecasting, intercompany reconciliations, consolidated reporting, and coordination with local accounting and tax professionals.

For international companies establishing operations in Israel, CFO services can support the financial planning and oversight required to integrate local activities with global operations.

CFO Services vs. Accounting Services: What’s the Difference?

Although the functions are closely connected, they serve different purposes.

A comprehensive outsourced finance arrangement may combine these functions, but companies should confirm which services are included in their engagement.

What CFO Services Do International Companies Need in Israel?

Establishing an Israeli subsidiary or expanding local operations requires financial coordination between the Israeli entity and its international headquarters.

Relevant services may include local budgeting, cash management, financial reporting, payroll oversight, and coordination of intercompany transactions.

Depending on the company’s structure, reporting may need to align with IFRS, US GAAP, or the parent company’s group accounting policies.

CFO services can help create consistent financial processes while coordinating with qualified local tax, accounting, and legal advisers.

This is particularly valuable for technology companies establishing Israeli R&D centers, hiring local teams, or managing subsidiaries across multiple jurisdictions.

When Should a Startup Outsource CFO Services?

A company does not need to reach a specific revenue threshold before engaging CFO-level support.

Five common indicators are:

1. Preparing for a Seed, Series A, or later financing round.
2. Experiencing limited visibility into cash runway.
3. Facing increasingly complex reporting requirements.
4. Expanding into Israel or other international markets.
5. Needing strategic financial leadership without hiring a full-time CFO.

The appropriate scope should reflect the company’s immediate requirements and anticipated growth.

CFO Services for Startups and International Companies: ERB Proximo

ERB Proximo provides outsourced CFO services and financial management solutions for startups, technology companies, and multinational businesses.

Its offering combines strategic CFO support with complementary services including controllership, bookkeeping, payroll, budgeting, financial reporting, and international financial operations.

For startups, this integrated approach supports financial planning, cash flow management, investor reporting, and the development of scalable financial processes.

For international companies operating in Israel, ERB Proximo supports local financial management and coordination with overseas finance teams.

The objective is to provide financial expertise and operational infrastructure aligned with each company’s stage and business requirements.

Frequently Asked Questions

Do CFO services include bookkeeping?

Not automatically. Bookkeeping is a separate function, although some outsourced CFO providers offer integrated bookkeeping and accounting services.

Can CFO services help with fundraising?

Yes. CFO services can include financial modeling, investor reporting, due diligence preparation, and capital planning.

Do startups need CFO services before generating revenue?

They may. Pre-revenue startups often require runway forecasting, financial planning, and fundraising support.

Can outsourced CFO services support an Israeli subsidiary?

Yes. They can support budgeting, financial oversight, reporting, and coordination with local accounting and tax professionals.

Are CFO services suitable for growing companies?

Yes. The scope can evolve as a company’s financial complexity, headcount, and reporting requirements increase.

Build a Stronger Finance Function with ERB Proximo

Effective CFO services extend beyond financial reporting. They provide the strategic insight, financial discipline, and operational oversight required to support growth.

Whether you are building a venture-backed startup, preparing for fundraising, or establishing business operations in Israel, ERB Proximo offers outsourced financial management solutions designed to support your next stage of growth.

Contact ERB Proximo to discuss CFO services tailored to your business.