What is a Virtual CFO?
You may be wondering what a virtual chief financial officer (CFO) is. If you are, you’re not alone. Let us help you clarify what a virtual CFO is and why you need one.
A Virtual CFO is a strategic partner who performs the CFO role on a part time basis. Not only can they fulfil your business’ compulsory requirements like BAS and tax returns, but they can also provide services tailored to the business’ stage and circumstances.
This can include:
- business planning
- cash flow management
- risk analysis
- and asset protection.
What would the benefits be?
A strong VCFO can provide unbiased analysis, not subject to internal influences. They can provide your business with:
- ongoing strategic focus
- and, using the latest technology, can quickly address unrealistic goals,
- a lack of strategy and purpose,
- and random assumptions.
They can make your business more valuable by helping you:
- make better, more informed decisions
- focus and be accountable on your goals
- increase productivity
- minimise risk – get the oversight to ensure risks are understood & monitored
- better manage cash flow
- adapt faster to changing conditions
- reduce costs
- be appropriately structured
- be set up with succession planning
The questions you should ask a VCFO to check their suitability:
- If you were me – what would you do – when, how, why?
- Where do you see that you can be of greatest value to me?
- How can you help me and what will this cost?
- What are the three most important things I should do right now?
- What software platforms do you recommend and can you help me get the most from using them?
- How can I secure my family’s financial and lifestyle future?
If you want to talk to a VCFO, contact Acvisory for a free consult.
General advice warning: The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.