The virtual Finance Director or virtual CFO is a new concept. It’s a way for small business to get CFO support that they wouldn’t have been able to afford previously.
Small businesses who hire a virtual CFO get access to an experienced financial professional at a fraction of the cost of a full-time CFO. The services will differ from firm to firm, but usually a virtual CFO will :
- Handle all the duties of a traditional CFO, but work remotely and on a part-time basis.
- Monitor the financial health and well-being of the business, usually with cloud technology.
- Offer financial insight and guidance on all company decisions and issues.
- Provide back-office functions such as managing accounts ledgers, depending on the client and theirs needs.
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