In recent years, there’s been an increasing trend for startups and small businesses that could not otherwise afford an in-house chief financial officer (CFO). During Covid -19 period, there has been a demand from small businesses and startups to seek virtual CFO services, including outsourced financial management and government stimulus assistance.
So what is a virtual CFO?
A virtual CFO is an operational and financial professional who performs the services of a traditional chief financial officer. Instead of working for your business as a full-time employee, the virtual CFO works remotely, on a contractual, part-time schedule instead of delivering those services in person.
SME’s often require the service of the virtual CFO due to not having enough duties for a full-time, in-house CFO to justify the expense and headcount.
The virtual CFO essentially becomes a member of the company’s team backed by an internal team of accounting professionals with a wide variety of experience.
How can the virtual CFO service help your business?
The virtual CFO can work for your business on a part-time, monthly, or project basis. They are a member of your team and is generally responsible for:
• Management and statutory reporting
• Monitoring financial health of the business
• Budgeting and forecasting
• Set up systems, cultures, and processes for business improvement and growth
• Cloud accounting system advice
• Trusted business mentor and advisor
Why connect with Abdera
• Extensive knowledge and networks
• Over 20 years experience with startups and expanding SME’s in Australia
• Various industry experience including technology, medtech, health and wellness, engineering, professional services, retail, ecommerce, NFP
• Flexible and competitive monthly solutions
We can’t wait to help you and your business. Call us on +61 2 8916 6259 or contact us and let’s get started.