The strategic planning and financial risk management knowledge of a Chief Financial Officer can be the difference between long term security for your company and countless sleepless nights wondering where your company s money is and where it is going.
You may not be a huge corporation, but that does not mean that your financial risks are any less dire. The big multinationals with their high priced CFO s can afford an attitude of â€œa few million here, a few million there, pretty soon you are talking about real moneyâ€. The management of your financial risk is even more important for your organization. A full time CFO with his suit and 14th floor office may be out of your reach, but you can take advantage of a Virtual Chief Financial Officer (vCFO)
The most important difference between a CFO and a vCFO is that the vCFO only works for your company on a part-time or consulting basis. This makes very good sense. It allows you to take advantage of a Chief Financial Officer s knowledge of financial risk management at a fraction of the cost of keeping a full time corporate officer on staff.
For the small to medium sized business, a vCFO introduces a â€œquality over quantityâ€ approach to financial risk management. You can think of the vCFO as a suite of tools which will help you to keep track of where your company s financial status. This goes way beyond bookkeeping. The vCFO can provide strategic planning services including measures to control expenditures and increase revenue.
According to a white paper at TopFinanceProfessionals.com, â€œThe CFO of tomorrow should be a big-picture thinker, rather than detail-oriented, outspoken rather than reserved, prefer to delegate rather than be hands-on, emphasize what gets done rather than how things are done, and make collaborative rather than unilateral decisions.â€
In big business, the CFO is seen as a â€œCEO in waitingâ€, a step on the corporate ladder. A vCFO will give you the same MBA and market background that multi-national corporations expect from their CFOs. Rather than being someone who is wanting to take over your job, the vCFO is simply someone who will be dedicated to doing their best to help his clients.
One of the best features of a vCFO is that their tools and features can be tailored to the specific needs of your company. Since our Virtual CFO service is a Cloud-based service, the information and tools will always be the latest and most up to date.
Does your business need the services of a virtual CFO? Call us for a no obligation chat about your requirements.