Virtual CFO Services:
Small businesses that hire a Virtual CFO get access to an experienced financial professional at a fraction of the cost of a full-time CFO. The services will differ from firm to firm, but usually a Virtual CFO will: Handle all the duties of a traditional CFO, but work remotely and on a part-time basis. Monitor the financial health and well-being of the business, with cloud technology. Offer financial insight and guidance on all company decisions and issues. Provide back-office functions such as managing accounts ledgers, depending on the client and their needs.
Having access to a Virtual CFO can be a big benefit for a small business. Most of them can't afford an experienced, knowledgeable CFO on a full-time basis and may never consider hiring one. That's a problem, because many small businesses fail within the first three years. Reasons include failure to set themselves apart from the competition, and an inability to find a profitable business model. With an accounting professional acting as their Virtual CFO, they could keep their financial goals and realities clearly in sight. A Virtual CFO is an affordable alternative to hiring a full-time CFO and can make a big difference to a small business, by: Creating budgets and forecasts. Pinpointing problem spending by highlighting trends in the market. Validating or discouraging business decisions with financial well-being in mind. These are abilities that the vast majority of business owners don't possess – but they often need them in order to succeed. With a combination of practice knowledge, cloud-based accounting software, mobile technology and modern data analytics, we can provide Virtual CFO services that will be of great benefit to you. Why are virtual CFO roles becoming more common? You may not have even heard the term until recently. Trends in the accounting profession have led to value-added services like Virtual CFO becoming more common: If you are interested in these services please contact us toll free at 833-836-6398 or click here to set up a consultation.