A full-time, experienced and high-quality CFO is often cost-prohibitive for many businesses. But a virtual CFO works as a contractor rather than as a full-time employee. Virtual CFOs can be an amazing resource for companies looking for the benefits a CFO provides without the high price tag.
Running a business can be exhilarating and challenging. But, if things feel overwhelming or you aren’t sure how to facilitate growth, it might be time to bring in specialised expertise for advice. That’s where a virtual Chief Financial Officer (CFO) can come in.
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For many business owners, finding expert financial advice is key to achieving their goals. Virtual CFOs can provide the high-level strategic planning and financial insight necessary to help a company grow.
They offer a level of expertise you don’t get from an accountant and can help businesses in many ways, from cashflow management to raising capital.
Simply complete your details in the enquiry form and we will be in touch soon to discuss your needs further.
Our dedicated Virtual CFO experts are here to help you achieve your business goals.
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A Virtual CFO handles everything an in-house CFO would do, but on an agreed contractual basis.
What is a Virtual CFO?
Virtual CFOs usually work remotely, which is where the word “virtual” comes in. The advantage to this is you can hire a CFO who best suits the needs and has the expertise in your business industry or niche, no matter how far away they may be located.
How does a Virtual CFO work?
- Strategic goal setting
- Business growth strategy
- Preparation of financial statements and reports
- Financial planning, including cash flow management and forecasting
- Assessment of staff and productivity
- Supply chain review and advice
- Help raising external capital
- Help with cost efficiency
- Allows staff to focus on their core tasks
What services do Virtual CFOs offer?
Virtual CFOs provide all the same services a full-time CFO offers, based on your business needs and budget. Here are some examples:
The ability to receive expert advice at a fraction of the cost of a full-time CFO is a big benefit, but the benefits of hiring a Virtual CFO are numerous.
Virtual CFOs can offer services tailored to your exact needs and prioritise what those needs are so their services can align with your budget.
They also have diverse, in-depth knowledge and the expertise that comes from working with many different types of businesses at different stages of growth.
A Virtual CFO will also get to know your business intimately, and when it’s time to hire a full-time CFO, they can help to onboard the new hire and share all the valuable insights they’ve gained into your business during your time together.
What are the benefits of a Virtual CFO?
- Do I require independent and quality business advice to grow the company?
- Am I experiencing cost inefficiency due to retaining multiple finance personnel and office space for them?
- Have I been struggling to find a good finance professional?
- Do I need help raising external capital for the first time?
- Am I about to raise capital and need to show that I have an experienced finance team assisting with my strategic and operational requirements?
What businesses need a Virtual CFO?
Sometimes it can be hard to know when you need more help than an accountant can provide. Ask yourself these questions, and if you answer yes to most of them, it might be time for you to hire a Virtual CFO:
Our Virtual CFO services are delivered by experienced advisers, who are well-regarded leaders in the finance space. Each adviser brings years of experience and has successfully assisted a variety of businesses in achieving their growth plans.
FINDEX VIRTUAL CFOs
At Findex, we take a family office approach to helping our clients. You’ll have one point of contact, and if you choose, they can bring in experts from our other service areas to help manage multiple business components. Assisting you in more than one area gives us a holistic view of your business and allows us to make thoughtful, tailored recommendations suited to your big-picture needs.
Findex provides an industry-leading bookkeeping platform and payroll service, empowering businesses to outsource all their back office and finance needs. Our wide range of services also includes business advisory, corporate finance, tax advisory, commercial lending and general insurance, allowing us to give you expert advice in many facets of your business operations.
Learn more about how a Virtual CFO can help your business achieve its goals. Contact us today.
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