As a small or medium sized organization, you may not have the resources available to hire a senior finance resource, despite needing access to that level of expertise. A Virtual CFO can provide the level of expertise you need, as a part-time contracted resource. At CFO360 we will work with you, to manage and build your business by ensuring that your financial resources are well managed and available when you need them.
Advantages of having CFO360 on your team:
- You want to grow your business
Even if your accounting transactions are well-handled, a lack of senior level financial oversight may be preventing business growth. A Virtual CFO gives you the senior level advice and oversight that your business needs without the cost of a full-time hire. Virtual CFOs function within your management team and provide business advice through a financial lens. This gives balance and strength to the management of your business and is key to building value.
- Gives you more access to skill and experience
Working in the financial industry with different clientele gives a virtual CFO an edge over one committed to one company only. This is because of the exposure they get in their line of service. They can bring this expertise to the table, giving you an unbridled outlook of your business finances. This enables you to harness your business potential and to grow with sound financial advice backing you up.
Virtual CFO is important for small businesses due to their ability to multi-task. Outsourced CFO’s have numerous expertise such as banking, HR, management and can contribute in immense ways towards a small business. The outsourced CFO is a colleague that take you out of the minutia of projections, bookkeeping, accounting procedures and finance. Furthermore, they can help with difficulties, for example, changes in income, getting ready for capital costs and arranging contracts. Hence, it is extremely important to outsource CFO for small business.
- Saves you money
When hiring virtual services, you will be able to save a significant amount of time since they can start work immediately whenever you deem fit. In the business world, saving on a very important resource such as time is synonymous to saving money. In addition, you can get the same quality of work you get from a full-time employee, sans all the health and other benefits you need to comply with.
Most SME cannot afford or justify the salary of a full time CFO. CFO360 offers you the opportunity to have your own CFO at a fraction of the cost.
Our office is mobile so we come to you saving you non-productive time and high hourly charges.
- Presents a new perspective
Regular employees often operate within a single establishment, adhere to the same rules and regulations and adapt the same work mentality. However, a CFO oftentimes has had the luxury to work with various clients. This gives them access to diverse company views and ideas. That means they can easily introduce a new perspective to solving issues — an attribute which your company can greatly benefit from.
Every business undertaking often involves money. With that in mind, you need to make sure you are getting the most out of the budget you have allocated. Regardless if you are running a food company or a construction labour hire, employing the right people will eventually save you a substantial amount in the long run.
- Cash flow
Cash flow issues are something most organisations struggle with at different times. This could be because of changing industry governance (NDIS) sudden growth, landing a new client or contract which is larger than your business has dealt with before. This is where a Virtual CFO can be of huge benefit by helping you determine, ahead of time, when cash flow may be tight so you can plan for it and allow you start looking at options early and if required discussing options with lenders and suppliers.