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The role of chief financial officer is changing, according to Michelle Delker.
The Tampa native recently launched The William Stanley CFO Group, a “fractional CFO” firm, to support entrepreneurial leaders at small and mid-sized businesses, where there is the greatest need for structure and operational expertise, she said.
Smaller companies typically don’t have the appetite to hire a full-time CFO, but an effective finance leader is essential for bringing a company’s vision to life, Delker said.
“A lot of people get tripped up on the 'F' in CFO. ... What I found through my experience was a lot of what I touched was not traditional finance,” Delker said.
“A CFO has to be a facilitator and integral business partner. ... I couldn’t effectively do the job without being involved in all of the other disciplines — operations, marketing, legal and government relations. It’s all so interconnected. We had to collaborate, and why wouldn’t we want to?” she said.
Delker, a certified public accountant, started her career at the Tampa restaurant group Bloomin’ Brands. She later joined Granite Services Inc., a subsidiary of General Electric, where she was exposed to a broad range of corporate finance experience. It wasn’t until she joined a smaller health care organization that her understanding of the role of CFO changed, she said.
Smaller, entrepreneurial businesses need a hands-on financial operator, Delker said, especially those in transitional phases that are experiencing growing pains.
“Perhaps you need some additional dry powder or financing, or you need to put together a proposal or sophisticated pro formas. Your needs begin to change,” she said.
William Stanley assists clients with financial reporting and analytics, business planning, cash flow management and other leadership guidance. Her first clients span the tech, education and professional services sectors, she said.
“All the things that we’re facing in the current market — rising interest rates, and access to capital and competition for talent — if you’re building the right culture and developing the right strategic partnerships, then all of those things are manageable. There is nothing that’s insurmountable."