Virtual CFO

What is Virtual CFO?

A Virtual CFO is an effective way for businesses to gain solid financial support without the commitment and cost of a full-time CFO. Our team partners with you providing a remote team who work with you to help guide your business to success. You receive a dedicated CFO, with access to a full-service accounting and tax team. Because a CFO needs specialized expertise, it’s not unusual for a smaller business to lack one. The cost of hiring a full-time CFO can range from $150,000 to over $400,000 per year, plus vacations, bonuses, and other benefits. This cost can be significant . Virtual CFO is an effective and beneficial option for new, growing and smaller businesses.

Expanding smaller businesses frequently approach an inner critical point wherein they require a CFO to oversee financing strategies, expenditures, and act as a springboard before making major choices.

  • If you’re a growing business that needs professional financial advice, but can’t afford a full-time CFO or Controller, our Virtual CFO services are a perfect fit. We’ll customize services to fit your business and financial needs.
An Overview of Virtual CFO

How Does It Work?

Now more than ever, startups and businesses are looking for ways to run lean. CDS offers the services of a CFO, but does so with a blend of on-site and remote services, and usually on a part-time basis. It allows a business to fill the gap until they’ve grown to the point when then they can hire a CFO full-time. Businesses purchase an estimated number of hours per week. Weekly meetings are scheduled with both the executive(s) and finance teams. There is a 6-8 week onboarding process of dedicated time for the Virtual CFO to familiarize with the company’s financial and operational procedures.

How Virtual CFO works

This three part process includes goal setting, report design and building and enhancing your financial processes.

Virtual CFO services will:

  • Identify key metrics and map out reporting to monitor the key metrics
  • Interpret financial results on a regular basis
  • Manage the annual budgeting process
  • Provide cash management and planning
  • Assist with development of your strategic plan

Call Bill Fenske at (320) 214-2998 to learn more about our this unique service. Let us exceed your expectations.

Our Virtual CFO Team

Resources

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