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Virtual CFO

Engaging a Virtual CFO gives your business access to a wealth of collaborative knowledge from a team of accounting professionals. All at a price that works for you.

Sharp Accounting’s Virtual CFO services are packaged to deliver valuable insights to help your business grow. Our experienced Virtual CFOs will help you set realistic goals to maximise growth while keeping your operations lean and efficient. Then, we’ll keep you accountable to those targets.

We take a hands-on role in your business, guiding you down the path towards success. As you grow, we’ll take on more responsibility while providing key strategic advice that goes beyond looking at the numbers, ensuring you understand your business’s financial position. If you have ideas, questions, or concerns at any point, we’re available to hash them out with you.

Your engaged, involved, and invested Virtual CFO is just a few clicks away.

Sharp Accounting’s Virtual CFO Services

  • Financial Forecasting
    Make strategic decisions for your business today with financial forecasting that considers likely financial outcomes for you at strategic future intervals.
  • Strategic Planning
    Gather the data and information you need to make impactful decisions to grow your business by relying on our Virtual CFOs.
  • Business Advisory
    Place our experienced and multidisciplinary team at your disposal with our business advisory services and benefit from our wealth of insight.
  • Corporate Compliance
    We’re here to help you achieve compliance with relevant corporate requirements, including taxation and reporting obligations.
  • Risk Management
    Our virtual CFOs work with you to balance your operational needs with risk management, ensuring you only take informed and measured risks.
  • Bookkeeping
    Our Virtual CFO clients enjoy the immense benefits that come with our reporting (including cash flow reporting) and data-driven guidance.

Commonly Asked Questions about Virtual CFO Services

What is a Virtual CFO?

You may already have a finance person or bookkeeper who handles your finances. But who are you talking to about the big issues that matter to your growing business?

A Virtual CFO, also known as an Outsourced CFO, provides you with the advice you need to avoid costly mistakes and achieve your business goals. A virtual CFO can provide timely and insightful information and make a major contribution to the value of your business. They are essentially the sounding board and practical advice strategist behind your business.

As your business grows, you’re likely to need more guidance to help you understand and compete in today’s competitive and ever-changing business environment. A Virtual CFO provides the expertise needed to deal with important issues like strategic management, compliance requirements, profitability, cash flow, growing or leaving your business, and more.

Engaging a Virtual CFO provides you with services that can be scaled to meet your business needs. Every business can benefit from the expertise of a CFO, no matter where it is in its business lifecycle.

How can a Virtual CFO help your business?

Sharp Accounting’s Virtual CFO Services help with:

  • Start-up and emerging businesses
  • Strategic planning and performance management
  • Financial forecasting and cash flow
  • Identifying risk and opportunities
  • Financial reporting on profitability compared to budgets and forecasts
  • Guidance and assistance with regulatory responsibilities
  • Compliance with relevant laws, risk and governance matters
  • Setting objectives and key performance indicators and measuring what matters in your business
  • Focusing on the critical value drivers in your business
  • Analysing the numbers and trends
  • Assisting owners in financial literacy through coaching and mentoring

Virtual CFOs are ideal for businesses that want access to the wealth of collaborative knowledge a Virtual CFO and their team can provide.

You receive access to a team who are experts in their field and advice that can be scaled to the needs of your business today or in a future business cycle.

How does having an Outsourced CFO work?

Having access to a Virtual CFO gives you access to an expert team with a broad range of knowledge across multiple areas. Outsourced CFO Services give you visibility into your business.

Sharp Accounting’s Virtual CFO services are tailored and scaled to suit the requirements and complexities of your business. Without expert advice and guidance businesses often make mistakes and miss strategic opportunities to achieve business goals.

By offering a range of packages from bookkeeping to business advisory services through to wealth creation and succession planning, Sharp Accounting’s Virtual CFO services remove the stress of not knowing what the right decision to make is.

Our Virtual CFOs can provide your business with a solution based on accurate and reliable information, together with their knowledge and understanding of your business and its requirements.

When/Why do businesses get a Virtual or Outsourced CFO?

4 Reasons why your business needs an Outsourced CFO

1. You want to grow your business.

You are finding that you are time poor and are unable to focus on what you want for your business and the strategy to get there. When businesses grow quickly, owners often lose focus on the big picture and become ‘stuck’ in the day to day running of the business. You need to be focused on your business, not stuck in the business.

A VCFO assists you to manage the changes in your business and help you set out a plan. You will feel confident in knowing that you have the resources backing you to make the most of opportunities that arise.

2. Your growth has highlighted a need for strategy and operational efficiency.

Your business is growing without a strategic plan. As a result, your growth is putting a strain on the business in terms of its operations, efficiency, and/or ability to hire the right people.

3. You’re thinking about exiting your business

Whether you’re planning to sell, retire or depart due to health reasons, you require a well-planned exit strategy. Selecting successors, attracting the right buyer, understanding the financial transition, managing risks and your legal obligations are essential when exiting a business. A Virtual CFO will provide advice and guide you through the exit process.

4. Your bookkeeping doesn’t provide the insights and reporting you need.

Keeping your books and invoicing up to date can be a challenging and tedious task. It’s also essential.
If your bookkeeping habits are causing you to focus on the now rather than focusing on whether you will have the funds to meet your medium and long term needs, it’s likely time to seek external assistance from our experienced team. Our team of VCFOs can help you analyse and understand your financials.

What are the benefits of having a Virtual CFO?

The difference between an in-house general accounting or booking team and a virtual CFO is that you’re receiving a high degree of expertise and experience across a variety of specialist areas backed by an expert team.

An in-house accountant or bookkeeper may have limited cross-industry knowledge and experience, this is where a virtual CFO and their team can add value and be of enormous benefit to your business. Engaging a virtual CFO enables you to gain access to a resource with a wealth of knowledge as and when you need it without having to outlay the resources to employ an in-house CFO.

A virtual CFO will assist you to identify your key profit drivers, improve your cash flow, help you understand the profitability of your business, and enable you to focus on growing your business.

Whether it’s a blowout in operating costs, additional staff, or inadequate financial reporting, a virtual CFO will assist you to identify the issues quickly and make strategic decisions that will get you back on track.

It’s important to remember that good, reliable, timely information is critical to your business, without it you cannot be confident in how you are operating and impact plans for growth.

Why choose Sharp Accounting as your Outsourced CFO?

At Sharp Accounting our Virtual CFO services enable us to work with you on a number of levels to assist you and your business to get the value you need for your situation. Relying on Sharp Accounting’s Virtual CFOs in your business gives you access to a team that can:

  • Assist you in identifying the financial measurement systems that drive the business.
  • Be on your board and/or become a key strategic advisor.
  • Identify and measure what matters in your business.
  • Ensure that cash flow is monitored and action taken when necessary.
  • Monitor profitability against budgets and forecasts.
  • Provide insights and analysis into your business development.
  • Provides assurance and peace of mind that your business is compliant with relevant laws, risk and governance matters.

How much does it cost to hire a Virtual CFO?

Virtual Chief Financial Officer Packages

Peace of Mind

From $1250.00 per month

  • Monthly business reporting to give you piece of mind around cash flow, profitability and performance
  • Quarterly  accountability meeting to help you stay on track
  • Less stress as you have targets and accountability
  • Greater profits as you have a plan to follow
Peace of Mind & Growth

From $3000.00 per month

Everything that is included in the Peace of Mind package plus:

  • Monthly accountability meeting to help you stay on track
  • Critical success indicators developed to reflect the key drivers of your business
  • Weekly phone calls to check in with your business advisor
  • Review of key risk areas in relation to relevant laws and regulations and provision of advice to allow piece of mind
Growth & New Opportunities

From $5000.00 per month

Everything that is included in the lower packages plus:

  • Advice and assistance to implement changes to free up your time to grow the business and explore new opportunities
  • Assistance provided to put systems in place for your accounts and finance staff follow.
  • Advice provided in relation to business strategy and future direction
  • A clear plan for wealth creation and retirement or succession planning.
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