How much of your business is run online? For most of us, nearly every aspect of business lives on the internet (now more than ever, with days full of Zoom meetings becoming the new normal). Why not take your business to the next level with a virtual CFO?
A virtual CFO can manage every aspect of your business’s finances – financial planning, management of financial risks, record-keeping, financial reporting, tracking cash flow, analyzing strengths and weaknesses, and offering guidance in accounting, sales, training, and strategic planning. (And that’s not all!)
But how does a virtual CFO differ from an in-house CFO? A virtual CFO is more affordable, providing the same services and expertise as an in-house CFO for a fraction of the cost. Because a virtual CFO works remotely and provides the services you need as you need them, a virtual CFO can save you thousands of dollars that you would otherwise have to spend on a salary, bonuses, benefits, and office space for an in-house CFO.
A virtual CFO makes better financial management possible for every business, no matter its budget. But why do you need one?
Encourages Business Growth
With years of training and experience in the field of finance, virtual CFOs have the skills and expertise necessary to analyze accounts and see financial discrepancies that the untrained eye may miss. Virtual CFOs also offer senior-level advice, strengthening your management team and ensuring that finances in all parts of your business are being managed properly.
Great at Financials and Legalities
If taxes make you nervous, a CFO could be just the thing your business needs. A virtual CFO keeps detailed financial reports, so when it comes time to pay taxes, your business won’t have to slow down. Because of their depth of knowledge about taxes, finances, and audits, a virtual CFO ensures that you file your taxes properly and never encounter legal problems.
You may have a bookkeeper, but that doesn’t mean you couldn’t benefit from a CFO at tax time as well. A virtual CFO can provide senior-level support and guide your bookkeeper through complications. This way, you can have confidence in your financial reports.
Saves You Money
Because virtual CFOs can provide the services you need as you need them, a virtual CFO is significantly less expensive than an in-house CFO.
Plus, the financial payoff from hiring a virtual CFO is huge. At the Virtual CFO Group, we’ve seen the difference that skilled financial management can make for a business. By working with us, one of our clients saved over $350,000 in the first year of management.
Brings a New Perspective
Unlike in-house CFOs, virtual CFOs may work with many different clients. Because of their extensive experience with clients in a variety of fields, virtual CFOs have a uniquely broad perspective, which they use to come up with creative strategies that help your business succeed.
Avoids Problems and Maximizes Success
Hiring a financial expert to manage your business’s finances guarantees greater success. Virtual CFOs can draw from years of experience to solve your business’s problems. While problems may be new to you, a good virtual CFOs will already be familiar with them and can provide solutions easily.
And beyond helping you avoid problems, virtual CFOs use their skills to make areas of your business that were already successful more profitable than ever before.
Is it time for your business to bring in a virtual CFO? The Virtual CFO group is here to take care of all of your financial needs. Don’t hesitate to reach out to us – we would love to chat about how we can help your business succeed!