VIRTUAL CFO SERVICES EXPLAINED

WHAT IS A VCFO?

Modern CFOs have multiple roles from finance to operation, strategy, and execution. They are a trusted partner of the CEO as they understand the business in its entirety due to the required involvement with all the business departments to fulfil their roles. CFOs are one of the leading influencers of an overall business strategy, bringing financial expertise at the service of the business’s operational needs.

As a starting point, VCFO will model the CEO/Business owner’s strategic vision using Three-way forecast techniques. This forecast will become the foundation of the strategic plan as it will assess and reflect where the business is at (Historical results), where the business wants to go (forecasted results) and how the business is going to get there (short, medium and long term strategies).

From this assessment, VCFO will be able to recommend the appropriate services and frequency of services, depending on the size of the business, the existing operational structure of the business, the industry the business operates in, and the strategies and opportunities determined during strategies modelisation.

WHAT ARE THE VCFO SERVICES?

VCFO services include but are not limited to:

• Assessing and modelling strategic vision via Three-Way Forecast techniques
• Monitoring, analysing and providing financial information in a way that is understandable by all stakeholders and bringing to the forefront the areas of strength and weakness of the business.
• Strategic planning influencer
• Mentoring and monitoring finance department (bookkeepers, controllers and tax agents) to gain confidence in the reported results and ensure the appropriate procedures are in place for accuracy and efficiency.
• Assist in determining KPIs for each department
• Assist in developing and implementing processes and systems.
• Assist in determining and managing risks
• On-call trusted partner to assist CEO/Business owner with any aspect of the business
• CEO/Business owner support during critical meetings with External Stakeholders and Board
• Budget management
• Cash monitoring and planning
• Assist in raising Capital

If you would like to learn more about the value-added SENTE’s CFO services can bring to your business, please feel free to contact us anytime to book your free, in-person discovery consultation.