What is a CFO?

CFO (a Chief Financial Officer) is a senior-level executive who handles and controls an organization’s cash flow, financial planning, and taxation issues. Being in charge of the finances, spending, investing decisions, and strategic endeavor’s, a CFO plays a crucial role in maintaining the sustainability and success of the business.

The CFO helps to drive business growth while boosting revenue. They provide valuable guidance for the business goals while also ensuring that company operations align with the company’s financial independence. Looking at the decisive role CFO plays, it cannot be given to any in-house resource. Instead, a trained virtual CFO or CFO services outsourcing can efficiently bridge this gap.

Virtual CFO

• Virtual CFO can work on requirements immediately. They don’t need any training. Transparent communication regarding the company’s requirements and anticipation is made clear initially.
• Accurate and outstanding outcomes are ensured due to proven systems, skills, reliable infrastructure, cutting-edge technology & tools.
• Through multi-domain experience and knowledge, virtual CFOs provide tailored and valuable insights into your business.
• With a virtual CFO, a business saves a lot of money. CFO services outsourcing provides scalable teams. Plus, the client only has to pay for the services.
• Your in-house resources can direct their skills into core business activities. They can help build additional revenue streams and provide better creativity to drive business expansion.
• Whether you choose a virtual CFO or CFO services outsourcing — any of them are highly responsive. Since they understand finances and their impact on other factors, they can efficiently look after other business aspects.
• Virtual CFOs can work with every department to set business goals, ensure operations align with the objectives and bring results that deliver growth.

In-house CFO

• The company has to search for, hire, might even train, and offer an attractive salary to suitable candidates.
• The company must provide the CFO with infrastructure, systems, relevant technology, tools, and software.
• The CFO can deliver exactly as expected if they get enough support in their daily operations.
• The company has to ensure that all the other in-house teams align and contribute fully and as much as needed to the in-house CFO.
• A CFO is a senior-level role. Hence the candidate is entitled to all the company perks such as paid leaves, health and retirement plans, and much more. It might burden the finances if the company is facing budget constraints.
• In-house CFO has to be responsive and be on their feet whenever required.
• An in-house CFO can boost productivity and revenue but needs time to understand everything to ensure a perfect contribution.

A professional virtual CFO is a blessing to businesses wanting to begin or expand operations but doesn’t have the time and money to do so. CFO services outsourcing proves to be a boon when businesses only need enough inputs to streamline existing operations and increase profitability. To know more about how can you benefit from our virtual CFO outsourcing services, contact us at info@uniquesacc.com