In a nutshell, outsourced virtual financial consulting services consist in a la carte financial services, provided by a senior financial professional, who has gained the knowledge and the experience to quickly diagnose pain points and provide solutions to various scenarios, common to small and mid-size businesses.
Does Any of These Scenarios Sound Familiar?
1. Your Business is Expanding
Even if your accounting transactions are well handled, a lack of senior level financial oversight may be hampering business growth. The Virtual Financial Consultant – Outsourced works within your management team and provides business advice through a financial lens. This gives balance and strength to the management of your business and is key to building value.
2. Your Business is Undergoing Change
If your business is going through a period of change, you need your financial information to be relevant and timely.
You need a senior finance person working closely with your team, to better identify and measure the key aspects that are driving business performance.
3. Cashflow is Getting Tighter
If your cashflow is getting tighter or you have a new initiative/ upcoming contract which is greater than you have handled before, you will need to know well ahead of time when cash may be stretched, or your options becoming limited.
With the right data informing your discussion and decision-making, it will help you to improve and manage your liquidities and therefore, your negotiating position will be strengthened with potential lenders or investors.
4. You Are Concerned About the Accuracy of Your Financial Reports
Having inaccurate and non-timely financial reports are signs that your Finance team may need some additional senior level support and guidance.
There may be a knowledge gap, too much change and/or too heavy a workload, which makes dealing with issues more difficult.
Senior level support can help and instill confidence in your financial
Sometimes your intuition is saying it may be the time to have an expert give you a snapshot of your situation, making unbiased recommendations without long-term commitment.
If you answered yes to one or more of these scenarios, it is time to consider the value a VFCO would bring to you, your Finance team and your business.
Wondering if a VFCO is the right alternative for you? Do not hesitate to contact us for any questions.