What is a virtual CFO?
A virtual CFO is a part time CFO for small companies. It is a cost-effective way for small businesses gain the essential value of a CFO without the commitment of a full-time hire. Thanks to cloud-based bookkeeping, virtual CFOs have recently become accessible to even the smallest companies.
What are common challenges a CFO can help with?
A virtual CFO is often brought into a company to help overcome specific financial challenges such as:
- Cash flow issues
- Low gross margins
- High expenses
- Outgrown existing systems
- Need to make cost cuts
- Navigating an audit
Why hire a virtual CFO?
Below is a list of situations in which a small business owner might want to partner with a virtual CFO.
- You are too busy to perform bookkeeping and accounting.
- Forecasting has become too complex or too stressful.
- You are entering a new market or pursuing vertical integration.
- You are pivoting your business plan and results are yet uncertain.
- You are bringing on new equity partners.
- You are raising outside equity capital
- You just closed an investment round and need to manage cash smartly.
- Growth is limited by cash tied up in inventory or receivables.
- You want to get new debt or refinance old debt.
- You are thinking about merging or acquiring another business.
Our Solution
Liguori Accounting provides advanced virtual CFO services based on the needs of the small business. Clients work with a designated CFO who becomes acutely familiar with the business and its strategic goals. Business owners can meet with a CFO every quarter or month depending on the service tier selected by the client. Generally, in each meeting the CFO will review current financial activity, the budget, strategic goals, tax opportunities, forecasts, etc. Meetings with the CFO will follow an agenda, but the agenda and financial reports used can be personalized to the needs of the business.
Interested in learning more?
Learn how Liguori Accounting can help your business thrive! Fill out the form below to start a conversation with our team. Please note, Liguori Accounting provides tax services to business owners subscribed to a service tier. Our firm is not a good fit for businesses looking for tax preparation and filing as a standalone service apart from its full-service outsourced accounting tiers.