Running a growing business and struggling to make sense of your finances?
You’re not alone. Many small to medium-sized businesses — and even some larger ones — reach a point where financial decision-making becomes more complex. Hiring a full-time Chief Financial Officer (CFO) isn’t always financially viable, which is where a Virtual CFO (vCFO) can make all the difference.
At Matthews Steer, we offer tailored Virtual CFO services that give your business expert financial guidance without the cost of a full-time hire. Here’s when you should consider engaging a vCFO and the benefits of doing so.
What Is a Virtual CFO?
A Virtual CFO performs the same strategic and financial functions as a traditional CFO but works externally and part-time. This flexible model allows you to access senior-level financial expertise without the overhead of a permanent executive.
Our vCFOs don’t just crunch numbers. They act as trusted business partners, supporting financial operations, advising on growth, and even upskilling your internal team with the ultimate goal of helping your business stand on its own financial feet.
When Does a Business Need a Virtual CFO?
You might need a Virtual CFO if your business is:
- Just starting out and needs a solid financial foundation.
- Growing quickly and you want to ensure sustainable, profitable scaling.
- Experiencing complexity in financial operations or reporting.
- Preparing for investment, expansion, or sale.
- Lacking internal expertise but can’t justify a full-time CFO hire.
If you’re seeking clarity, control, and confidence in your financial direction — but need a cost-effective solution — a Virtual CFO is the perfect fit.
What Services Does a Virtual CFO Provide?
At Matthews Steer, our Virtual CFO services are tailored to your unique business needs. Core functions include:
Strategic and Financial Oversight
- Financial planning and analysis
- Budget vs actual performance reviews
- Tax planning and compliance
Operational Support
- Monthly financial reviews
- Bookkeeping and ledger management
- ATO compliance
High-Level Reporting and Governance
- Board and committee meeting attendance
- Quarterly banking and third-party reporting
Long-Term Growth and Upskilling
- Business structuring and advisory
- Profitability and KPI monitoring
- Upskilling of internal finance personnel
What Are the Benefits of Working with a Virtual CFO?
The right Virtual CFO can have a transformational impact on your business:
- Cost-Effective CFO Expertise – Access senior financial insights at a fraction of the cost of a full-time hire.
- Clarity Around Numbers and Strategy – Eliminate guesswork and make confident, data-driven decisions.
- Improved Profitability and Growth – Identify opportunities, manage risks, and optimise performance.
- Scalable Support – Services adapt to your evolving needs, from hands-on support to high-level advisory.
- Internal Capability Building – We upskill your team to eventually manage key financial responsibilities.
Importantly, a Virtual CFO integrates deeply into your business, often uncovering insights that go beyond numbers and influence operations, personnel decisions, and customer strategies.
What Does the Virtual CFO Process Look Like?
At Matthews Steer, we follow a clear and collaborative four-step onboarding process:
- Understanding your business – Identifying your financial needs and challenges.
- Defining scope – Agreeing on the services we’ll provide and the desired outcomes.
- Setting expectations – Ensuring both sides know their roles and responsibilities.
- Delivering value – Outlining monthly and quarterly deliverables for transparency and accountability.
Our pricing is straightforward. We provide a fixed-price quote for 12 months, so you know exactly what to expect with no hidden costs and no bill shock.
How Long Should You Use a Virtual CFO?
Most clients engage a Virtual CFO for 6 to 18 months, depending on the complexity of their needs. Our goal is to get your financial systems running smoothly and upskill your internal team, setting you up for long-term success. We then step back or shift into an advisory role once your team is ready to take the reins.
Ready to Gain Clarity Around Your Finances?
Whether you’re building a financial foundation, scaling your operations, or preparing for investment or exit, a Virtual CFO can give you the clarity, confidence, and strategic guidance you need without the overhead of a full-time hire.
Partner Charith Mandadige, Head of Accounting, Tax & Business, specialises in business growth strategies, family succession planning, corporate restructures, and M&A activities. As one of the leading Business Advisors in Essendon, Charith helps businesses manage financial complexity, unlock growth opportunities, and build sustainable success.
Ready to take control of your finances? Contact Matthews Steer today on 03 9325 6300 to book your free consultation.