BENEFITS OF EMPLOYING A VIRTUAL CFO
The benefits of employing a virtual CFO are:
- Immediate Start – A virtual CFO can start immediately, hence avoiding delay, time and cost associated with going through the recruitment process to employ a CFO either, part of full-time.
- Flexibility – You can use the services of a virtual CFO, as and when needed, which allows your business to tailor the services of a virtual CFO to fit your business needs. The services of a virtual CFO are easily scalable.
- Better Results – Because virtual CFO’s work alongside other businesses and Business Owner’s a virtual CFO can bring learning’s and experiences from these other businesses to your business.
- Access to a high skill and experience – A virtual CFO usually is a qualified accounting expert who has gained his/her experience across a wide range of industries and in senior accounting / management roles.
- New Perspective – A virtual CFO works with different clients across a diverse range of industries which exposes the virtual CFO to a diverse and new views and ideas, which they can bring to your business.
DOES MY BUSINESS NEED A VIRTUAL CFO?
Now that you understand what a virtual CFO is and what the benefits of hiring one are, the next question you are naturally asking yourself is, is it the right solution for me ? Below are some indicators that your business could benefit from engaging with a virtual CFO.
- Your business is becoming more complex.
- Your business is experiencing rapid growth.
- You want to find and exploit new opportunities.
- Your business financials are unfavourable, and you are not sure why.
- You lack the detailed financial understanding needed to make decisions.