Virtual CFO

Focus on your core business operations. Leave your financial strategy and analysis to a cost-effective professional.

Running a business can be rewarding, but it can get complicated when you’re trying to make sense of financial statements, create budgets, and manage cash flow. The smart move might be to delegate those to a reliable CFO – but it can get expensive. Now there’s a smarter way: the virtual CFO.

Virtual CFO Services

Virtual CFO services refer to the outsourced financial management and advisory services rendered by a virtual Chief Financial Officer (CFO) to a business. Virtual CFOs provide high-level financial advice, planning, and analysis on a part-time or project basis.

Typically, virtual CFO services cover financial reporting and analysis, cash flow management, budgeting and forecasting, strategic financial planning, fundraising/financing, and risk management.

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What Kind of Businesses Should Have Virtual CFO Services?

Construction & Trades

Builders, Plumbers, Electricians, Landscapers

Professional Services

Lawyers, Consultants, Marketing Agencies

Health & Wellness

Fitness Studios, Spas, Beauty Services, Health/Wellness Stores, Sports Facilities

Tourism

Travel Agencies, Tour Operators, Souvenir Shops, Accommodation Providers

Food & Beverage

Restaurants, Cafes, Bars

Retail Stores

Boutique Shops, Gift Shops, Specialty Stores

Manufacturing

Industrial, Automotive, Consumer Electronics, Chemical, Food & Drink

Information Technology

tech start-ups, IT services

Labour Hire

Employment Agency, Contract Management, Recruitment Services, Training Organisations

We strongly recommend virtual CFO services if you're seeking to:

Grow Your Business

Enter New Markets

Diversify Your Products/Services

Open in a New Location

Launch an e-Commerce Website

Merge with Another Business

Franchise Your Business

Seek Additional Funding

What's Included in Virtual CFO Services?

Virtual CFO services provider Wear Accountants can provide financial expertise so you can make informed decisions, grow your business, and achieve your goals. As a virtual CFO, we can do:

Financial Analysis & Review
Preparing Budgets & Forecasts
Monthly or Quarterly Financial Reporting & Analysis

Calculating Your Break-Even Point
Cash Flow Forecast & Management
Monthly or Quarterly Management Meeting

Benefits of Engaging Virtual CFO Services

Your business can enjoy these payoffs from a virtual CFO:

Cost Savings

Save money on salary, benefits and overhead costs

Expertise

Get expert help, advice, and guidance on all financial matters

Flexibility

Work on a flexible schedule and availability

Focus

Concentrate on your core business activities, having a financial expert on board

Strategic Planning

Use KPI insights to develop financial strategies aligned with your business goals

Financial Reporting

Improve your financial reporting process, get accurate and timely financial statements

Hire a Virtual CFO

If you’re looking to explore working with a virtual CFO, ask questions, such as:

• What sets you apart from other virtual CFOs?
• Can you provide references from your clients?
• How competitive are your rates?

With Wear Accountants, you can get virtual CFOs who:

• Are accessible and approachable,
• Will give you plain English advice,
• Are not over-burdened with other tasks,
• Will work toward your goals and growth,
• Understand small businesses,
• Have worked with small, medium, and family businesses, and
• Are dedicated professionals with extensive experience.

Our principal, Mel Wear, is a Chartered Tax Advisor of the Tax Institute and Fellow of the Institute of Public Accountant, with a Master of Taxation degree (UNSW), a Bachelor of Commerce degree (USQ), and a Diploma of Financial Services (FINSIA). Our accountants have almost 60 years’ combined accounting experience.

Unlock the Full Potential of Your Business.

Take the first step to having a virtual CFO on your team. Let’s talk about how virtual CFO services can help achieve your targets. Click below to schedule a consultation with Wear Accountants today.

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FREQUENTLY ASKED QUESTIONS

What is the role of a Virtual CFO?

Virtual CFOs are financial experts who provide financial management services to businesses on a part-time or project basis, usually remotely. A virtual CFO may play these roles:

Financial Manager
Strategic Financial Planner
Business Analyst
Risk Manager
Business Advisor

What are the benefits of Virtual CFO services for business?

Virtual CFO services can allow businesses to:

Save on the costs of hiring an in-house CFO
Focus on core business activities
Get professional financial help and advice
Develop financial plans aligned with business goals
Improve their financial reporting process

Do all businesses need Virtual CFO services?

All businesses need the services of a CFO, regardless of size or industry. Small businesses can particularly benefit much from a virtual CFO.

Can a CFO work remotely?

A virtual CFO has the flexibility of working from any place with internet access, using online and cloud-based technologies. This also helps save on costs.

What do you look for in a Virtual CFO?

When looking for a virtual CFO, it’s important to consider:

Qualifications and credentials
Experience and industry knowledge
Communication / responsiveness
Technology skills for remote work
Service offerings that align with your needs
Reputation and references

What is a CFO accountable for?

A CFO is accountable for a business’ financial health and performance, covering:

Financial strategy
Financial planning and analysis
Financial operations
Capital management
Risk management
Corporate governance