Executive-level financial leadership for companies doing $10M to $250M+ in revenue.
Toroni & Company provides fractional and interim CFO services that give growing and mid-market businesses access to strategic financial insight, planning, and operational improvement — without the full-time executive cost.
Your business has outgrown your financial infrastructure
You're past the startup phase. Revenue is climbing. Operations are getting more complex. You have real customers, real employees, real obligations — and the financial decisions you make today determine whether you thrive or stall.
But you don't have a CFO. Maybe you have a controller or bookkeeper doing their best to keep up, but nobody is building financial models, managing cash flow strategically, preparing board-ready reporting, or connecting your financial strategy to your growth plan.
That's where Toroni & Company steps in.
We provide fractional CFO services to companies generating $10 million to $250 million in annual revenue — and interim CFO leadership for larger enterprises navigating transitions, M&A, or restructuring. You get the strategic financial leadership of a seasoned CFO without the $250K–$400K annual cost of a full-time hire.
Warning signs you need a Fractional CFO
- You can't confidently answer 'What's our cash runway?'
- Monthly closes take more than 15 business days
- Your board or investors are asking for data you don't have
- You're making major decisions based on gut, not numbers
- Your CFO just left and you need someone immediately
- You're preparing for a capital raise with no financial model
- Revenue is growing but profitability is declining
- You have no rolling forecast or budget variance analysis
If 3 or more of these apply, it's time to talk.
Get a free assessmentFractional CFO services scaled to your revenue
Whether you're a $10M growth-stage company or a $250M enterprise needing interim financial leadership, we match the scope of our engagement to your business stage and complexity.
$10M – $25M
Typically 15–25 hours/month
- First dedicated finance leader beyond bookkeeper/controller
- Cash flow management during rapid scaling
- Building financial infrastructure (chart of accounts, reporting, budgets)
- Bank and lender relationship management
- ERP or accounting system selection and implementation
- Basic KPI dashboards and monthly reporting
$25M – $75M
Typically 20–40 hours/month
- Sophisticated financial planning and multi-year modeling
- Board-level and investor reporting
- M&A evaluation and due diligence support
- Multi-entity or multi-location financial consolidation
- Profitability analysis by division, product line, or customer
- Internal controls and audit preparation
- Capital structure optimization
$75M – $250M
Typically 25–40+ hours/month or full-time interim
- Interim CFO during leadership transitions or executive search
- M&A integration and carve-out financial leadership
- Complex multi-entity consolidation and intercompany accounting
- Debt covenant compliance and banking relationship management
- Exit preparation and sell-side due diligence
- Financial operations transformation
- PE sponsor reporting and value creation plans
- International / multi-currency financial management
Interim CFO for large companies in transition
When your $75M–$250M+ company needs immediate senior financial leadership — a CFO departure, M&A event, restructuring, or board mandate — Toroni & Company can step in within days, not months. We maintain financial continuity while you conduct a proper executive search.
CFO Departure
Your CFO resigned, retired, or was let go. You need continuity while you conduct a proper search.
M&A Activity
An acquisition, merger, or divestiture requires dedicated senior finance leadership beyond your current team.
Rapid Growth
Revenue is accelerating faster than your finance team can scale. You need senior oversight now, not in 6 months.
Restructuring
Financial restructuring, turnaround, or distressed situations that require immediate, experienced financial leadership.
IPO or Exit Preparation
Preparing for a public offering, SPAC, or sale requires CFO-level rigor in financial reporting and compliance.
Board or Investor Mandate
Your board, PE sponsor, or investors require a senior finance leader in place and you need to move fast.
Average time to start (vs. 3–6 months for a full-time hire)
Action plan delivered within the first 30 days of engagement
Typical return on Fractional CFO investment in Year 1
Comprehensive fractional CFO services
From day-to-day financial operations to high-level strategic planning, our fractional CFO services cover the full spectrum of what a growing company needs from its finance leader.
Financial Planning & Analysis
Comprehensive financial modeling, variance analysis, and data-driven insights to guide strategic decisions.
Budgeting & Forecasting
Rolling forecasts and disciplined budgets that keep your business aligned with growth targets.
Cash Flow Management
Proactive cash flow monitoring, working capital optimization, and liquidity planning.
KPI Dashboards & Reporting
Real-time performance dashboards that give leadership the visibility they need.
Profitability & Margin Analysis
Deep dives into product, service, and customer profitability to maximize margins.
Strategic Planning
Long-range planning that aligns financial strategy with business goals.
Financial Operations Improvement
Streamlining processes, controls, and systems for efficiency and accuracy.
Board & Leadership Reporting
Investor-ready reporting and board presentations that build confidence.
Growth & Scenario Modeling
What-if analysis and growth planning to prepare for every outcome.
Process & Controls Improvement
Strengthening internal controls and financial governance.
What you get from a Toroni & Company Fractional CFO
Every engagement is customized, but most clients receive the following deliverables and outcomes within the first 90 days:
Fractional CFO services across industries
Our Fractional CFOs bring cross-industry experience to every engagement. We serve companies across these sectors — bringing best practices from multiple verticals.
Technology & SaaS
SaaS metrics, ARR/MRR modeling, unit economics, and investor-grade financial reporting for software companies.
Professional Services
Utilization tracking, project profitability, resource planning, and margin optimization for services firms.
Manufacturing & Distribution
Cost accounting, inventory valuation, supply chain finance, and working capital management.
Construction & Real Estate
Job costing, WIP analysis, percentage-of-completion accounting, and project cash flow management.
Healthcare
Revenue cycle management, payer mix analysis, compliance reporting, and practice financial management.
E-Commerce & Retail
Unit economics, customer acquisition cost analysis, inventory management, and marketplace profitability.
Nonprofit
Fund accounting, grant management, donor reporting, and compliance with GAAP for nonprofits.
Private Equity Portfolio
Sponsor reporting, add-on acquisition support, value creation plans, and exit preparation.
Certified advisors on the platforms you use
Our team holds certifications and deep expertise on the leading financial and ERP platforms — so we don't just advise on strategy, we help you get more from your systems.
QuickBooks
As certified QuickBooks ProAdvisors, we provide expert setup, optimization, reporting, and troubleshooting for QuickBooks Online and QuickBooks Enterprise. We help businesses outgrow spreadsheets and get their books right — from chart of accounts design to advanced reporting and integrations.
- QuickBooks setup and configuration
- Chart of accounts optimization
- Custom reporting and dashboards
- Bank feeds and reconciliation
- Payroll and inventory setup
- App integrations and automation
- Migration from other platforms
- Training and ongoing support
Oracle NetSuite
We specialize in Oracle NetSuite — the leading cloud ERP for mid-market businesses. From initial implementation and data migration to customization, reporting, and ongoing optimization, we help businesses unlock the full power of NetSuite across finance, inventory, CRM, and e-commerce.
- NetSuite implementation and configuration
- Financial module setup (GL, AP, AR)
- SuiteAnalytics and saved searches
- Workflow and approval automation
- Custom records and forms
- Data migration and cleansing
- Integration with third-party systems
- User training and adoption
Sage ERP
Our team has deep expertise in Sage ERP systems — including Sage Intacct, Sage 100, and Sage 300. We help businesses implement, migrate, and optimize Sage solutions for financial management, project accounting, and multi-entity operations with the sophistication growing companies demand.
- Sage Intacct implementation
- Sage 100/300 deployment and migration
- Multi-entity and multi-currency setup
- Dimensional reporting and dashboards
- Project accounting configuration
- Revenue recognition setup
- Integration with CRM and payroll
- Ongoing administration and optimization
Finance + Technology + Operations — under one roof
What makes Toroni & Company different from a standalone fractional CFO provider is our cross-functional strength. We don't just look at the numbers — we connect financial strategy to your technology investments and operational processes.
That means your CFO engagement isn't siloed. It informs and is informed by your IT strategy, your ERP implementation, your cloud migration, and your operational efficiency initiatives. The result is a more holistic, more effective approach to growing your business.
When we implement a new ERP system, your CFO understands the financial data flowing through it. When we optimize your technology stack, your CFO ensures the ROI is measured and maximized. This connected approach is something a standalone CFO provider simply cannot offer.
How a Fractional CFO engagement works
We make it simple to get started and fast to see results. Here's what the first 90 days look like.
Discovery Call
Free consultation to understand your business, financial challenges, and goals. We determine if a fractional or interim CFO is the right fit.
Financial Assessment
In the first 1–2 weeks, we conduct a rapid assessment of your financial operations, reporting, systems, and team. We identify quick wins and strategic priorities.
90-Day Action Plan
We deliver a prioritized action plan covering financial reporting, cash flow, systems, controls, and strategic initiatives — then start executing immediately.
Ongoing Engagement
Monthly financial packages, KPI dashboards, leadership meetings, strategic initiatives, and proactive advisory. We scale our involvement as your needs evolve.
Fractional CFO vs. Full-Time CFO
See how a Fractional CFO from Toroni & Company compares to a traditional full-time hire.
| Factor | Full-Time CFO | Fractional CFO |
|---|---|---|
| Annual Cost | $250K – $400K+ (salary + benefits + bonus) | $36K – $180K (flexible monthly retainer) |
| Time to Start | 3 – 6 months (recruiting + onboarding) | 1 – 2 weeks |
| Commitment | Full-time employment, long-term | Month-to-month, scale up or down |
| Experience Level | Varies based on budget and market | Senior-level (20+ years typical) |
| Cross-Industry Insight | Limited to their background | Broad experience across multiple industries |
| Technology + Finance | Finance only (typically) | Finance + technology + operations integrated |
| Risk | High — expensive if wrong fit | Low — flexible engagement, easy to adjust |
Federal & State R&D Tax Credits
One of the most valuable — and most overlooked — tax incentives available to American businesses. Toroni & Company helps you identify, document, and claim every dollar you're entitled to under IRC Section 41.
What is the R&D Tax Credit?
The Research and Development Tax Credit — codified under Internal Revenue Code Section 41 — is a federal tax incentive that provides a dollar-for-dollar reduction in tax liability for companies that invest in innovation, product development, process improvement, and technological advancement in the United States.
Originally enacted in 1981 and made permanent by the PATH Act of 2015, the R&D Tax Credit is available to businesses of all sizes across virtually every industry. It is not limited to companies with laboratories, patents, or PhDs. Any business that develops new or improved products, processes, software, techniques, formulas, or inventions may qualify.
The credit typically ranges from 6% to 8% of Qualified Research Expenditures (QREs) at the federal level, with many states offering additional credits of 5% to 24%. For eligible companies, this translates to tens of thousands — or hundreds of thousands — of dollars in annual tax savings.
R&D Tax Credit at a glance
The IRS Four-Part Test
To qualify for the R&D Tax Credit, activities must satisfy all four components of the IRS test under Section 41(d):
Permitted Purpose
The activity must relate to developing or improving a product, process, software, technique, formula, or invention that results in new or improved functionality, performance, reliability, or quality.
Technological in Nature
The activity must rely on principles of engineering, computer science, biological science, or physical science. It doesn't require a lab — software development, manufacturing engineering, and process design all qualify.
Elimination of Uncertainty
There must be technical uncertainty about the capability, methodology, or design of the product or process at the outset of the research activity. If the outcome was guaranteed, it doesn't qualify.
Process of Experimentation
The taxpayer must evaluate alternatives through modeling, simulation, systematic trial and error, or other methods to overcome the technical uncertainty. Documentation of this process is critical.
Activities that commonly qualify
You don't need patents, white coats, or a research lab. These everyday business activities often qualify for R&D Tax Credits:
Qualified Wages
W-2 wages for employees who directly perform, supervise, or support qualified research activities. This is typically the largest component of the credit — often 60–80% of total QREs. Includes salaries, bonuses, and stock-based compensation.
- Software developers and engineers
- R&D managers and directors
- QA testers and scientists
- Project managers on R&D projects
- Supervisors of qualifying activities
Qualified Supplies
Tangible property used or consumed in the R&D process (not including land, improvements, or property subject to depreciation). This includes materials for prototyping, testing, and experimentation.
- Prototype materials and components
- Testing supplies and lab materials
- Cloud computing costs for R&D
- Server and hosting for development
- Raw materials used in experimentation
Contract Research
Payments to third-party contractors who perform qualified research on behalf of your company. The taxpayer must retain substantial rights to the research results. Typically, 65% of contract research payments qualify as QREs.
- Outsourced software development
- Engineering consulting firms
- Testing and certification labs
- Research institutions
- Specialized design contractors
Industries that benefit from R&D Tax Credits
R&D Tax Credits are available across virtually every industry. If your company develops, designs, engineers, or improves anything — you may qualify.
How Toroni & Company handles your R&D Tax Credits
We manage the entire R&D Tax Credit process — from identification through filing and audit defense. Our approach is thorough, defensible, and designed to maximize your credit.
Feasibility Assessment
We conduct a no-cost preliminary review of your business activities, expenses, and organizational structure to determine if you qualify and estimate the potential credit value.
Activity Identification
Our team interviews key personnel — engineers, developers, managers — to identify all qualifying research activities across your organization. Most companies have more qualifying activities than they realize.
Expense Analysis & QRE Calculation
We analyze payroll records, contractor invoices, supply expenses, and time allocation data to calculate your Qualified Research Expenditures using the method (Regular or ASC) that maximizes your credit.
Technical Documentation
We prepare detailed technical narratives, project descriptions, and supporting documentation that demonstrates how each activity meets the IRS four-part test. This contemporaneous documentation is critical for audit defense.
Credit Calculation & Filing
We prepare Form 6765 (Credit for Increasing Research Activities) and all supporting schedules for your federal return, plus corresponding state R&D credit filings for every applicable jurisdiction.
Audit Defense & Support
If the IRS or a state agency examines your credit claim, we provide full audit defense support — including responding to information requests, preparing technical explanations, and representing your position.
State R&D Tax Credits — don't leave money on the table
Over 35 states offer R&D Tax Credits on top of the federal credit. Many companies claim the federal credit but miss the state opportunity — costing them thousands or tens of thousands in additional savings every year. Toroni & Company identifies and files for every state credit you're eligible for.
This is a sample of state programs. We analyze eligibility across all 35+ states with active R&D credit programs.
Startups: Apply R&D Credits against payroll taxes
Companies with less than $5 million in gross receipts and no more than 5 years of revenue history can elect to apply up to $500,000 per year of the federal R&D credit against employer FICA payroll taxes instead of income taxes. This is a game-changer for pre-revenue and early-revenue startups that don't yet have tax liability — it turns the R&D credit into immediate cash savings on every payroll cycle. The CHIPS Act increased this cap from $250,000 to $500,000 starting in 2023.
No-cost feasibility review. We'll tell you if you qualify and estimate your potential credit.
Everything you need to know about Fractional CFO services
Get answers to the most common questions about fractional and interim CFO services, costs, and how Toroni & Company can help your business.
Get the financial leadership your business needs — starting this month.
Whether you need a Fractional CFO for strategic growth or an Interim CFO during a critical transition, Toroni & Company is ready. Schedule a free consultation to discuss your business and see how we can help.
No commitment required. Free 30-minute consultation for companies with $10M+ in revenue.