Virtual CFO

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:

Financial Reports

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.

Strategic Planning

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.

Unlimited Support

We will be in regular contact with you and your staff, whether it be by phone, email or in person – we are always accessible.

How Does It Work?

As one of the leaders in Virtual CFO technology and services we are uniquely qualified to help small business owners see the difference that having a CFO on their team can make. If you would like to explore you options, request a free consultation today, and we will help you explore your options.

We offer a model that adds structure to our relationship with you, your other company shareholders, and your team.

We have three different value tiers:

  • BUSINESS – tax returns, strategic planning, and forecasting
  • GROWTH – above, +handling accounts payable & receivable, +more detailed forecasting
  • ENTERPRISE – above, +KPI tracking, +bank/financing relationships

We become part of your weekly director meeting, which works best for the relationship.  We often set aside time to chat about the company’s finances and deliver a 15-minute cash update.  Joining regular meetings gives us a good understanding of your business and culture, and helps us stay up-to-date on current events.

After an initial onboarding, here’s what a happens:

  • WEEK ONE – invoicing meeting
  • WEEK TWO – books are closed + forecasting meeting + financials/KPIs
  • WEEK THREE – follow-up projects
  • WEEK FOUR – monitoring projects

We are always available anytime during the month for calls, impromptu meetings, questions and more.   We find that this schedule works best for most clients, but it is tailored to fit each client.

We meet weekly for about 15-30 minutes discuss cash flow projections for the upcoming weeks, if we are paying bills as part of the engagement.  This is conducted with an individual team member, not the entire director team.

As one of the leaders in Virtual CFO technology and services we are uniquely qualified to help small business owners see the difference that having a CFO on their team can make. If you would like to explore you options, request a free consultation today, and we will help you explore your options.

And if you require monthly on-going accounting services …

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We’re your Virtual CFO dream team. Don’t worry…we’ve got this.

SCHEDULE A CALL WITH OUR VIRTUAL CFO TEAM NOW!