What would a Virtual CFO do for my company?
on your company’s needs.
The short answer is that which your own CFO
or controller would do. The difference is
we have more experience and expertise on
which to draw, and we only charge you when
we are there.
Does “virtual” mean
that Virtual CFOs are only available
online or over the phone? What if
I need someone onsite?
The “virtual” in
Virtual CFOs actually refers to the
fact that we are not full-time employees.
Otherwise we are very real. We work
almost exclusively onsite at the
client’s location where
we can be most effective.
Why do I need a Virtual CFO if I have a Public
are professionals in financial management.
That is all we do. Public Accountants
are professionals in taxes, financial statement
preparation, and auditing. Asking your Public
Accountant to assist your company in financial
management and strategic planning is a little
like asking your architect to build your
building. (For more on this topic,
see the Articles section of this website.)
What is the difference between a Virtual CFO, a part time CFO, a fractional CFO, and a financial management consultant?
They are all terms used to describe a highly skilled financial professional who can provide a company with financial expertise and leadership that they would not have unless they had a full time CFO.
Why do I need a Virtual CFO if my company
has a controller?
do not need a Virtual CFO if your
controller: provides you with
timely, accurate, and insightful financial
and operational information about your business;
is the person you trust to help you create
and update your strategic plans; can help
you assess your organizational efficiency;
is helping you lead your company to the next
level; has assembled a talented and professional
accounting staff; can put together a financial
package, effectively present it to your banker,
and get the financing you need. If your controller
cannot do these things, a Virtual CFO can.
Is having a Virtual CFO expensive?
of having a Virtual CFO is that your
company only uses him for things
that do not occur every day. Your
staff is (or should be) able to handle
day-to-day activity. (See our list
of services on this website for areas
in which your Virtual CFO can be
used most effectively. For these
areas you should be looking for quality
financial management, not quantity.
One key decision based on the right
information can make all the difference
to your company.) A Virtual CFO only works
for you when you need him. It might be a
day a week or a day a month. The cost at
a day a week is less than half of the cost
of a full-time controller.
What if I
don’t think I need a Virtual
CFO every week? What if I just have a project
I need completed?
will complete the projects your staff