Affordable Expertise When You Need It
A CFO (Chief Financial Officer) is not just a glorified accountant. They don’t just count money; they can show you how to make money. Large Enterprises cannot function without someone fulfilling that role. The responsibilities are both broad and diverse, and too distracting for other CxO positions to manage in addition to their other duties.
Working without the benefit of a CFO could leave you to discover critical problems only when it is too late to do anything about them. Are you not in compliance with tax regulations? Are delinquencies going to make it impossible for you to meet your own obligations? The CFO’s job is to make you aware of processes or decisions that are leading the business astray.
Maybe you have an average of $160,000 available for your CFO’s salary, and if so, good on you. Starting from $25 per hour, having such skill and expertise on hand is a massive benefit to just about any company. It goes without saying that Large Enterprises will have the full C-Suite, such as the CEO, COO, CIO, and the all-important CFO, among others.
Small businesses and Small-to-Medium-Enterprises (SME) however often find themselves at a distinct disadvantage. C-Suite executives, despite being incredibly useful, and a massive advantage to any company, are rather costly.
In smaller companies even the owner often doesn’t take $160,000, so it is pretty hard to reconcile (or even provide) such a salary for a full time CFO.
The Modern Age
Fortunately we are alive in a time when information is the new medium of exchange; when virtual services are displacing physical services. It’s like the days when we got rid of telephone switchboards and installed PBXs (Private Branch Exchange). A company could then have dozens or hundreds of “virtual” telephone numbers without the presence of switchboard operators to manually make each individual connexion.
Confidently Expect the Following from Our
Virtual CFO Starting from $25 per Hour
- Design and execute strategies that support Vision and Goal of your company.
- Ensure compliance with local laws and regulations.
- Considering the global economic volatility, achieving cost cutting by implementing automation and Artificial Intelligence (AI). Our Virtual CFOs are technologically savvy with the ability to develop and implement new systems to increase efficiency and effectiveness in your business processes.
- Eliminate every kind of obstacles in your journey towards change e.g introduction of a highly sophisticated ERP software
- Provide timely and accurate financial information with actionable recommendations on operational and strategic level.
- Assess financial position of your business and advise executive management on the financial implications of business activities.
- Understand non-strategic to strategic needs of your company. Design and implement processes to meet them based on the priority.
- Manages liquidity to fulfil commitments of your company.
- In-depth analysis for Mergers and Acquisitions and provide exceptional recommendations with sensitivity analysis.
- Ensure accuracy and completeness of the accounting data, which is eventually used in the Audited Financial Statements.
- Review, analysis, and interpretation of the financial data for management, board of directors and external stakeholders.
- Review and detailed analysis of your company’s internal control system. Strengthen the weak areas by either modifying the controls or replacing them with new ones.
- Review and analyse the historic financial data, correlate that data with current and expected future results to manage potential risks and identity new business and financial opportunities.
- And many more…
How Does It Work?
A virtual CFO is available on a contract or consultative basis annually, monthly, weekly, daily, or even hourly. And these virtual CFOs aren’t just someone who walked in off the street! They provide actionable strategic, actionable advice exactly when you need it.
These professionals are Chartered Accountants, Financial Analysts, and Financial Experts with experience working alongside massive Multinational Corporations. They bring experience from a range of different countries, different financial outlooks, as well as different laws and regulations. Most importantly, they consolidate all of that experience to leverage the best of your skills, capabilities, and financial clout to achieve your goals.
What Can They Do?
Every moment spent with your CFO in a “learning moment” that you should take full advantage of. Their whole job is to instil your business decision-making with sound financial practices. They’ll work to make you more competitive, productive, and efficient, all while working to eliminate business risk.
Being More Profitable
Having ideas is one thing, but having an expert to identify the best ones and aid in their implementation is priceless. A virtual CFO can show you the optimal strategy (for your specific situation) that will provide the best chance for success. They can show you how to best exploit your opportunities for maximising your profits.
Cash Flow Optimisation
Delinquent accounts, slow payers, credit over extensions, net 60 arrangements, and many more problems can severely impede your cash flow. CFOs can identify all the weaknesses, throttle-points, and impediments to keeping that money flowing. You can’t do your best work with one hand tied behind you back. A virtual CFO can slice though these bonds and get your business back on track.
Are you looking for new growth opportunities? They can offer strategies for creating the best financing to expand your business. Funding growth might come in the form of borrowing, selling assets, stock offerings, investments, or any number of alternatives. Find out what is best for you.
Reporting & the Future
A successful business requires an intimate understanding of your current financial status through the creation of solid Reporting, an essential skill for any CFO. With this vital data in hand, your virtual CFO can provide a look at the future of your organisation; they can show you where you’re headed; most importantly, they can show you what you can expect to find when you arrive.
Leaving – The Right Exit Strategy
Are you thinking of an Exit Strategy, having created a successful business, and now looking to move on to your next project? That quality Reporting will serve you in good stead. By understanding your current status, and the present financial landscape beyond your own business, they can show you the best design and timing for your exit, to make sure you get the best value for all of your hard work.
Scratching the Surface
Of course the preceding is all in rather broad brushstrokes. There are hundreds of smaller, more subtle ways in which a virtual CFO can contribute. He or she can participate in Board activities, guide outsourcing decisions, prepare financial reports (and present them by video-link, if desired), manage budgeting and forecasts, create management plans, perform system, procedural, personnel, reporting or cash flow reviews, and make appropriate recommendations. The list goes on and on.
They can offer advice on strategic planning, advice on managing acquisitions or disposal of assets, as well as reviewing business plans or system implementation and their inherent weaknesses or problems. Your virtual CFO can even interface with investors as your Liaison Officer, often considered part of the CFO’s function.
The best part is that all this comes to you with the ease, affordability, and reliability of online Virtual CFO services. Your CFO is always available, worldwide, 24/7/365. How? It comes courtesy of free access to our Cisco Online Video Conferencing Software. It’s just like being there! You can speak face-to-face on your laptop, tablet, or even a smartphone.
If you need your CFO to attend (or even address) a meeting, use a big screen or projector and let everyone see! The modern internet is so fast and efficient that you can speak to someone on the other side of the world with virtually no delay. Are they in UK, the UAE, or the USA? Maybe they’re in Singapore or Canada…or are they just across the hallway? It is just so difficult to tell nowadays with all our wonderful technology.
What Will It Cost?
That’s always the big question, isn’t it? $160,000 per year is a lot, but that doesn’t even begin to consider bonuses, preferred shares, stock options, housing, vacation pay, retirement/golden parachute plans, health insurance, licences, tax subsidies, office space and all the necessary support staff and equipment…right down to providing a fancy automobile, and a parking spot for it.
Luckily, with a virtual CFO, all of that simply goes away. It is totally irrelevant because all you are paying for is the expertise. Our services scale according to your need. You could easily save 80-90% of the typical expenses involved in hiring a professional full time CFO. And that is money which they will help you plough right back into your business to help it grow and prosper.
Your business faces challenges every day. Whether you are a startup with lots of “ordinary” questions, or a well-established organisation with highly sophisticated requirements, our virtual CFOs can give you the answers you need.
Wouldn’t it be nice to just call up your CFO and ask “What am I supposed to do with this (information or situation)?” and receive an answer in just minutes, tempered by years of experience? That’s the promise and the benefit of a having a virtual CFO on your team.
Give us a call today and find out what having your very own CFO can do to make your business better!