Wondering if your business needs the services of a virtual CFO? Here are the signs you need to watch out for.
You’re struggling to forecast and budget.
This is a big problem for high-growth SMEs and startups, most especially those in search of crucial next-round funding. You need to prove to investors that your business is established on strong financial ground, and that equates to showing a firm grasp on your forecasting, goals, and budget. Your organization may be full of brilliant individuals, but it’s not probably full of people who are good at financial planning.
You need better business insights to make better business decisions.
Every decision-making process must be data-driven, and CFOs have the expertise and experience to make these informed options. Trusting your gut means you can have unfortunate consequences and can lead to the loss of big amounts of money. Insight and transparency are keys to making proactive, responsible, confident, rather than reactive options.
Thankfully, virtual CFOs are seasoned accountants and can solve issues by providing businesses clarity around their finances, helping them make rational decisions.
Your business is growing, but your processes and routines aren’t.
The bigger your business gets, the more complex finances can become. The busier the organization is, the more difficult it is to dedicate time to deal with finances. If your bookkeeper can’t handle it alone, most probably, a virtual CFO can. A virtual CFO can often offer much-needed advice on investing in a technology setup that can support growth.
Your expenses are spiraling out of control.
Expenses can spiral out of control instantly, and its adverse effects can negatively impact your finances. This can only be avoided with the proper expense and spending management, and clear policies that in turn, require control and scrutiny. A virtual CFO can help you solve these issues: advising on technologies and measures to put in place in order to prevent these problems in the future. He or she can also create best practices, so you can spend your funds properly.
Read more about the specific tasks a CFO does here → https://franmccully.com/virtual-cfo-services/
If you are interested in discovering if Virtual CFO Services might be the right business move for your business feel free to book a complimentary 45 minute call with me here → https://calendly.com/franconsult/complimentary-consultation?month=2021-01