Is It Time To Hire A Virtual CFO?

Michael Delano | September 30, 2021

It is not uncommon where small business owners reach a point in their company’s lifecycle where managing the financial side of the business becomes overwhelming. If this occurs, then it may be time to add a virtual CFO to your business.

A Virtual CFO can help a business with:

• Day-to-day financial management
• Interpretation of financial data
• Plan capital acquisition strategies
• Liaison between the company & the bank
• Help negotiate any loans
• Analyze mergers & acquisition opportunities
• Maintain adequate internal controls
• Implement cash management practices
• Budgeting & cash forecasting
• Financial performance analysis

Hiring a full-time CFO represents a major financial commitment to your company’s payroll. ZipRecruiter stated that the average CFO salary is $125, 273 per year. Most small businesses cannot afford a CFO full-time salary. Outsourced CFOs offer an alternative to full-time CFOs without the hefty price tag.