Empower Your Business With a virtual Chief Financial Officer
Many business owners – from start-ups to SMEs to major enterprises – wish they could delegate the financial oversight of their operations and free themselves up to focus on business development. The problem is, not all businesses can afford to employ a full-time CFO, particularly when they’re just starting out, or they’re undergoing an intensive period of growth. The good news is there is a solution to this catch-22.
In recent year's we've seen a growing trend for small and medium-sized business, and even major corporations, who can't afford to appoint an internal CFO, to outsource this role to accounting and advisory firms that offer specialist financial services.
A virtual Chief Financial Officer (vCFO), who undertakes the roles and responsibilities of a CFO externally and on a part-time basis, offers all the benefits of a full-time CFO without the associated costs. A vCFO can offer significant value to your business by taking charge of financial functions including day-to-day financial operations, advising on structure and strategy, promoting business growth and profitability, upskilling internal personnel, and providing certainty around the numbers, health and future of your business.
At Matthews Steer our purpose is ‘empowering our communities to live their potential’ and our vCFO services aims to fulfil that purpose by providing temporary vCFO support that our clients can leverage in order to access the advice they need to advance.
vCFO services may include:
Data integrity: monthly verification of data to ensure informed business decisions.
Financial analysis: evaluation of budgets, projects, performance, and other finance-related transactions to determine their performance and feasibility.
Third party reporting: completing quarterly banking covenants and consolidated reporting.
Board: attending board and committee meetings and reporting on findings.
Our end goal is always to upskill our clients’ personnel and build capability within their business so that ultimately we make our role as vCFO redundant, or we adjust the scope of our engagement to meet our clients’ evolving needs.
We’re very proud of the vCFO work that we’ve done in strengthening our clients’ capability around data integrity, financial analysis, third party reporting and board activity.