Virtual CFO: An In-Depth Look
As the business world around us continues to evolve, virtual chief financial officers (CFOs) are becoming increasingly popular. Unlike regular CFOs, who are internal workers of an organisation, virtual CFOs are outsourced service providers that assist in all financial requirements of a business.
More and more organisations are looking to virtual assistants to provide services for their businesses. Whether it is virtual secretarial, creative or technical assistants, the benefits are undeniable and virtual CFOs are absolutely no exception. By contacting Lawrence today, we can help you to assess your current business situation and decide if using a virtual CFO will help to evolve your business.
What are the benefits of a Virtual CFO?
Your business saves on staff costs
Employing full time finance staff has the potential to be an expensive venture. It might also be an unnecessary burden on small businesses, which they do not realise can easily be avoided! A Virtual CFO is an efficient, cost effective option that a rapidly increasing number of businesses are taking advantage of. Your business saves on having to pay one or more full-time working financial staff members, as you only utilise the services of a virtual assistant when they are required!
You receive an unbiased business perspective
Virtual CFOs have no affiliations with your businesses, as they are external to your organisation. This means their decisions are solely related to the success of your business, and there is absolutely no personal agenda.
Gain a competitive advantage
Virtual CFOs often bring strong business knowledge to your organisation, as they have experienced varying processes at a range of different businesses. This means they can improve the financial efficiency of your business processes and, therefore, give your business this competitive advantage. The experience that virtual CFOs have means their in-depth analysis of your business is reliable, and you are able to act on it as such. A Virtual CFO may be the difference that your business needs!
It is a common misconception that utilising an external Virtual CFO means you have no control over your business’ finances. The fact of the matter is that Virtual CFOs work alongside your management team to provide integrated finance solutions that compliment your overall business’ strategies. Collaboration is the key to the success that virtual CFOs have on your business.
How can Lawrence help?
Lawrence is committed to helping businesses achieve success through the advice that we offer and the experience we have. We are forward thinking and always looking to the future in our business’ world that is consistently changing. As experts in financial planning, we will assess your current situation and work collaboratively with you to decide if using a virtual CFO will be beneficial for your business.
We recognise that each and every business is different so the best way to improve your business’ processes is by first contacting Lawrence!