VIRTUAL CFOs

What is a Virtual CFO And Does My Business Need One?

Growing your company’s revenue is a beautiful thing. There’s no feeling quite like the one that comes with hitting a financial goal that’s long been on your horizon. But reaching new revenue levels also comes with growing pains.

If you’ve hit that point, your business needs a financial executive. But at this stage it’s also highly unlikely you can afford to hire a full-time CFO.

You’re probably wondering, then: What is a virtual CFO? What can their expertise do for me? And, most importantly, does my business need an outsourced CFO?

Just as the role’s title suggests, a virtual CFO is an operational and financial expert who performs the services of a chief financial officer. But instead of delivering those services in person, as a full-time employee, the virtual CFO works remotely, on a contractual, part-time schedule

In-house CFO’s are executives who outrank directors and managers. Unsurprisingly, their compensation reflects their executive status. Sadly, because they can’t afford the salary, too many businesses forgo the benefits of a CFO.

Thankfully, outsourcing a virtual CFO solves for the high expense.

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