Virtual CFO
There may be times in your business where high level financial advice or services are needed that can't be sourced internally. Engaging an external accounting professional to work with your business on a regular basis is a solution that can meet your requirements at a fraction of the cost of an internal hire.
Utilising the knowledge and skills of an experienced CFO is an efficient and cost-effective way to meet your needs, as they have the advantage of dealing with similar financial issues across a range of different clients and industries.
Some common situations we encounter in small to medium-sized businesses are:-
Business owners require higher levels of financial expertise as their business grows, but can't yet justify the expense of a full-time accountant. This puts pressure on business owners and existing administration staff to manage these requirements.
Succession plans, an unexpected resignation or a request for extended leave creates a temporary void in the capability of a business to manage its financial affairs. The short-term nature of these situations makes it difficult to attract interest from suitably qualified applicants, and this can hamstring or disrupt operations.
A business has difficulty attracting good-quality senior accounting staff. This could be due to location, industry or cultural fit.
We can step in to solve these issues in a number of ways depending on your circumstances. Examples include:-
A package of services to fulfill requirements as an alternative to a new hire.
Provide ongoing advice and support to business owners on financial and strategic matters.
Mentor existing or new staff to achieve the required proficiency for their financial role.
Providing a caretaker service focusing on the main risk areas of the business.
We have extensive experience performing the CFO role. This allows us to understand issues from the perspective of business owners and staff, and perform these services with confidence and proficiency.