Some things are best left to the experts…
Can you manage your own finances? Sure you can.
Through my years of small business management experience, I’ve learned that a small business that fails to implement adequate accounting and financial reporting systems are also driving in the “fog” of a similar looming disaster. Without a good accounting, you may not discover that your company is in the middle of a financial crisis until it is too late to take the correcting action necessary to save your business.
I like to tell clients that accounting is the scoreboard of business. It allows you to know your company’s current financial standing and track your firm’s performance. Accounting can also identify the areas of your business that are excelling and those that need to be improved or eliminated. As a small business owner, I know personally that it is comforting to know exactly where your company stands financially.
A good accounting and financial reporting system can definitely help you run your company more effectively and profitably, thus keeping you out of the fog.
How Virtual CFO Services Can Help Scale Your Business
Virtual Chief Financial Officer (CFO) continues to be viewed as someone who is an ‘insider’ to the company that he/she works for. The number of experienced quality CFO’s available in the market today is not in proportion to the number of companies that have mushroomed, grown and in some cases become large organizations. Apart from this, there are also companies that come up every year and some of them out of these survive and even manage to scale. Outsourcing in recent years has given mid – sized and growing companies the option to bring on board good quality CFOing skill sets through a firm/company given the gap in demand and supply. The gap lies is in between the huge chunk of companies who are neither too small, nor too large and who find it difficult to attract the right CFO talent who could fit in.
Why your business needs a Virtual CFO
A CFO is what all successful businesses need, the reality is that many growing, small to medium sized businesses cannot afford to employ a full-time CFO and nor do they require the services of a full time CFO.
Whether it is a one off project, or an ongoing requirement, our highly qualified Virtual CFO has the expertise you require to assist you. Our Virtual CFO is a finance expert who can help you keep on top of your business finances and improve your cash flow and profitability. We will work with you and/or your team to achieve success.
My Financial Home Enterprises provides a Virtual CFO service which will deliver all the critical services that a growth company requires at an affordable cost. Depending on your needs, our Virtual CFO can offer the following:
Quarterly BAS, annual tax compliance and financial statements. This means your BAS and annual returns are completed and lodged accurately and on time.
Business Forecasting & Analysis
Forecasting and budgeting enables you to plan, track your progress and take timely actions to keep you on track to achieve business success. We provide in depth monthly reporting against budget, analysis of profitably against products and/or market segments, cash flow forecasting, investor analysis to monitor return on equity. From these reports we then develop a plan and take action to improve profitability, overall investment and your position in the market.
We work with you to set goals and provide a strategic plan and direction for your business. This includes preparing a financial plan, forecasts, budgeting and setting KPI’s.
Internal Control Systems Support
Advising or instructing your staff on the maintenance of the accounting and internal control systems when requested, assistance managing human resources, staff skills and training, risk management and compliance.
Regular Meetings & Phone Conversations
Regular meetings with owner and managers to focus on profit and cash flow improvements. This enables your business to take any necessary corrective action sooner rather than later, and have up to date information and reports on which to base discussions.
We will be in regular contact with you and your staff, whether it be by phone, email or in person – we are always accessible.