Published In: Washington CEO on March 31st 2008
Author: Carol Tice
Gary Tidd took a hard look at the overhead costs of the company where he serves as CEO, storage-analytics software maker Estorian in Bellevue. His conclusion: With just $3 million in sales, the company really couldn’t afford its full-time chief financial officer. But venture-backed Estorian still needed expert financial guidance, including the preparation of quarterly reports for investors.
The solution? Tidd laid off the company’s CFO and outsourced the job, hiring a CFO he pays by the hour from a national firm, Vcfo, which has a local office in Bellevue.
“We figure we’ll save at least $70,000 a year,” he says. “And we’re getting all the services we need.”