Virtual or outsourced CFOs can provide all the same services as traditional CFOs with the added benefit of increased flexibility and decreased cost. If you need CFO level talent, but only part-time such as one day per week, one week per month or on a project basis consider engaging a virtual or outsourced CFO.

Here are just a sample of the services that virtual and outsourced CFOs can provide.

• Financial Analysis and Operational Results Analysis – Finding trends, ways to operate more efficiently, and tracking key performance indicators to assist in future decision-making.
• Improve Profitability – Assess operations for process inefficiencies such as excesses in labor, materials or misallocation of resources that may be costing your company money.
• Strategic Planning – Identify and quantify the important factors that will affect your future growth and success.
  
• Forecasting and Budgeting – Create a new forecast or budget process or improve your existing one; a virtual CFO can help you formulate plans that is accurate and reliable.
  
• Cash Flow Projections – Always know your cash position in the future so you can keep your lenders and vendors happy as well as prepare for expansions, downturns, major repairs or fixed asset acquisitions.
  
• Organizational Structure – Create the optimal organization structure so your business or a certain department operates like a well-oiled machine.
  
• Financial Staff – While you have a staff that handles the day to day financial transactions you need to focus on other aspects of the business rather than spending time managing the accounting function. An outsourced CFO can manage and train these staff members on or off-site.
  
• Acquisitions – Understand if an acquisition makes financial sense, understand the valuations involved or plan for the on-boarding and integration.