Outsourced CFOs and Greener Fuel: Scaleup Strategies Emerge

Companies are increasingly adopting innovative strategies for both financial management and sustainable logistics. For growing businesses that may not yet require a full-time Chief Financial Officer (CFO), senior accounting consultant Gerton Jönsson of ECIT Sweden recommends engaging financial expertise on a part-time, outsourced basis. An outsourced CFO, typically working 60–80 hours per month, can provide a CEO with a comparable strategic partnership at a substantially reduced cost. This approach also ensures a CFO's valuable time is not diverted to routine administrative tasks. ECIT, a Nordic outsourcing partner, notes the growing popularity of this model, attributing it to its cost-effectiveness and the difficulty in securing specialized skills. This allows small and medium-sized companies to access senior-level financial experience that was previously financially out of reach. In the realm of sustainability, Kinnarps, a prominent European supplier of workplace solutions, is making significant progress towards its environmental objectives. The company has set a target to reduce greenhouse gas emissions by 50 percent by 2030, using 2019 as a baseline. Furthermore, Kinnarps aims to achieve net-zero emissions by 2050, having already accomplished a 46 percent reduction in emissions. A key component of this sustainability strategy is the adoption of renewable fuels for freight transport, specifically HVO100 supplied by Preem. This Svanen-labelled fuel, manufactured at Preem's Gothenburg refinery primarily from residual products, offers a reduction in greenhouse gas emissions exceeding 90 percent compared to conventional diesel. Kinnarps' transition to HVO100 represents an additional 17 percent reduction in emissions beyond their previous renewable fuel usage. The Svanen label confirms that the fuel is not derived from palm oil or its by-products, further underscoring its sustainable sourcing.