VCFO Services
Virtual Chief Financial Officer
Once upon a time, if you were serious about growing your business, then you would eventually have to hire an in-house Chief Financial Officer (CFO) to make strategic financial decisions and help to oversee the day to day running of the business’s finances. This, of course, was an expense that was prohibitive to many small businesses, as these skilled individuals would command a premium salary.
Thank goodness those days are behind us!
With modern cloud book keeping, it is now common practice to use a virtual CFO to do the same job. As your business grows, you can easily afford to use these adhoc services to help advise you through growth phases, without the costs associated with hiring a full time employee. In fact, all of the finance rolls involved in running your business can be outsourced to a competent VCFO who will take care of this on your behalf.
“I was hesitant at first as I wondered how a VCFO would be able to add value to my business. My only regret now was not doing it sooner! Since working along with Paul, we have been able to grow our business from £250,000 turnover to over £3m turnover with much higher profit margins. He oversees everything down to the day to day book keeping so we always have up to date information. He has even attended board meetings to help explain the numbers and helped us to draft investor proposals to help us grow our business. The fee we pay more than covers the value we receive, and we don’t have the cost of having to pay a full time CFO.”
One of the keys to making VCFO services work, is getting up to speed on a cloud book keeping platform. The VCFO will be able to help keep this up to date (and accurate!) and use this data to produce meaningful management reports that assist company owners to grow their business.
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If you’re interested in finding out more about VCFO services then please grab a free sample report here, or contact us.