The Game-Changing Value of a (not so) Virtual Finance Director

strategy

As your business grows there will likely come a time when you need to consider bringing in specialist support to provide focus on the financial strategy of your business, but you may not be ready to invest in a full-time Financial Director.

A Virtual Finance Director (VFD), or Virtual Chief Finance Officer (VCFO), will bring board level financial support along with expert strategic thinking, on a part-time basis. So, you get the expertise without the price-tag.

More human than virtual

Don’t let the term virtual put you off. The virtual element of the role relates to cloud technology, that makes it easier than ever to collaborate, share financial data and enable your adviser to work remotely with access to everything they need.

This ability to collaborate means you get real-time analysis and guidance, whenever you need it.  No more waiting around for historic management accounts to back up your decision-making. And that’s an extremely powerful tool to have in the armoury.

However, the gold is in far more than just the numbers.

Where a virtual FD really adds value is as a trusted adviser to your business – someone who will act as a combination of sounding board, business coach and strategic expert to help provide clarify and confidence in your decision-making.

#1 Accountability

A good adviser shares your entrepreneurial mindset, but keeps you grounded with accountability and focus. By working with a virtual FD, you’ll be better able to stay on track as you’ll be motivated, committed and focused.

#2 Forward thinking

Having a virtual FD on board provides you with a forum to discuss your plans for the business. You have a sounding board to discuss challenges and opportunities.  With sound financial grounding, analysis and guidance you’ll have the confidence you need to navigate obstacles and achieve your long-term goals.

#3 Straight talking

A virtual FD offers complete objectivity. They do not sit with your team day-to-day, and that brings you the benefit of an external viewpoint and objectivity.  You get an honest answer when there’s a difficult decision to make, whether it’s a financial issue, a potential buy-out, or a matter relating to relations at board level.

#4 Collaboration

You will have far more direct contact when you work with a virtual adviser, compared to a standard accountant. The relationship is no longer about simply delivering year-end accounts and meeting once a quarter. It is an ongoing, continuous relationship between you and your adviser.

As your business grows and faces both challenges and opportunities, your VFD is there to resolve any issues – and even to identify problems before they occur. Your VFD will spot the trends, assist you in avoiding the pitfalls and help you identify and optimise opportunities to improve your profits and sustain your growth.

Ready to embrace game-changing growth?

Working with a Virtual Finance Director can be a real game changer. They’ll put crucial financial information at your fingertips, and help you make sense of it. A VFD at your side will elevate your decision-making abilities and take your business to the next level. 

If you’d like to find out more about how hiring a Virtual FD can transform your business, we would be happy to arrange a free consultation with you.  Contact us to find out more.  

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