Virtual Chief Finance Officers (VCFO) offer the same services, and more, as a traditional Accountant must but a VCFO does it remotely, part-time or on an ad hoc basis. 

1. The Advantages Of a
Virtual CFO
Virtual Chief Finance Officers (VCFO) offer the
same services, and more, as a traditional
Accountant must but a VCFO does it remotely,
part time or on an ad hoc basis.
M Y M Ac c o u n t i n g a n d B u s i n e s s C o n s u l t a n c y

2. Tailored To Your Needs:
• A Virtual CFO comes with experience which a traditional Accountant
may not. Accountants usually join the corporate world and rise to the
CFO position. They also spend many years at the same job to get a
better grasp of the company’s operations. This gives them an in-
depth knowledge of their company’s financial position and
capabilities.
• A Virtual CFO, on the other hand, is an independent expert who has
experience working with various companies. A VCFO is a part of a
virtual community and provides companies with the added
advantage of gaining access to industry insights, networking, and
having a bigger pool of experts guiding your decisions. On the other
hand, a traditional CFO knows the capabilities, resources, and
culture of an organization, and hence can propose solutions keeping
these factors in mind.

3. Aid Growth:
• Typically, a major expectation from an Accountant is to ensure
compliance. They make sure that all reports, payments, and books
are up-to-date and the company’s financial record is organized.
• CFOs, whilst also taking care of the above, also aid growth.
• Your local accountant regularly analyse, plan, and strategize to
provide sound advice for effective growth.

4. An Objective Perspective:
Hiring a VCFO can give the brand a fresh, and objective, pair of eyes;
one that maybe unaware of internal discussions and debate and not be
limited by either. Accountant can help you spot growth opportunities
and add value by seeing things that may have been missed. In
contrast, a traditional accountant is an employee and probably has
been a part of the team. He or she knows fully what’s going on and how
the business has been functioning. Thus, it is unrealistic to expect them
to add a new perspective.

5. Minimize Your Costs:
The most prominent advantage of having a VCFO is the money you will
be saving on their salary. A full-time accountant will be drawing a
monthly salary with corporate benefits and the work is also unlikelyto
be in as much detail as that of a CFO.
Having a VCFO on-board tackles both these queries at the same time.
You create an opportunity to employ an expert CFO who is a remote
resource hence the terms and conditions can be made more flexible
than for a full-time resource. Apart from not needing to provide office
space and benefits, you can retain them on a weekly, monthly,
quarterly or even an annual basis for probably a lesser cost than that of
the traditional Accountant.

6. More Networking:
The VCFO is an independent expert working with a wide range of
corporations and private clients. Having a VCFO work with you gives
you direct access to their other clients. Since they work for your
company too, your company’s interest is important for them. A VCFO
therefore can help you connect with other organizations and build a
collaborative network at the behest of the VCFO.
An added advantage of a VCFO’s contacts is that they are aware of
market conditions including the interest shown by potential investors
and your company’s financial health versus that of your competitor.

7. THANK YOU!
We are looking forward to start a project with you!
info@mymconsultancy.com.au
0437157610
www.mymconsultancy.com.au
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