How an outsourced CFO can power business success
Any company interested in accelerating growth and reducing risk needs a finance leader, but the cost of hiring an experienced in-house CFO isn’t always a viable option. That’s where an outsourced CFO can come in to deliver best-in-class accounting, operational and strategy guidance for your company.
Key benefits of outsourced CFO services
For a growing business, having the right financial leadership can be a game-changer. Our comprehensive outsourced CFO services provide value across all parts of the business.
Enhanced decision-making
Accurate reporting and analysis is key to understanding where your business is and where it needs to be. An outsourced CFO can provide oversight of financial, compliance and internal KPI reporting to the board and shareholders of your business, so you can make decisions with confidence.
Cost-effective
Full-time C-suite executives don’t come cheap. An outsourced CFO engaged on a fractional basis can provide your business with the benefits of a CFO, at a fraction of the cost. The cost saving and efficiency benefits multiply when an outsourced CFO is combined with a skilled offshore accounting team to safely and efficiently handle the day to day finance requirements of your business.
Flexible and scalable
Whether you’re a startup or an established company, an outsourced CFO can manage your finance function, build it from the ground up, or provide specific support on deals, capital raising, bank funding and ERP projects. Importantly, an outsourced CFO can guide you through a growth phase without causing a permanent increase to the cost of doing business.
Financial planning and analysis
An outsourced CFO can help you set growth targets and remain accountabile for meeting them. Ongoing financial planning encompasses budgeting, forecasting and assessing the viability of new product and service ideas.
Financial reporting
Constant reporting to identify financial strengths and gaps and offer practical insights. Our CFOs are also well-versed in analysing pricing and cost structures to improve profit margins.
Raising capital
Ready to grow? We can assist with funding structure options, preparing information memorandums for investor and venture capital funds and investor relations.
Why choose our CFO advisory services
Think of us as a partner in business strategy. We have decades of experience helping businesses like yours to boost cash flow, grow revenue streams and set — and meet — financial goals. Best of all, we do that while seamlessly integrating with your existing systems.
Get direct access to our skills for a fraction of the cost
Leverage the full scope of the skills and expertise required of a CFO, without having to recruit or invest in a full-time employee. You can scale the finance function up or down to align with business needs.
Optimise the performance of your finance team
Using an experienced outsourced CFO based locally can lead and guide a team of offshore accountants, providing you with an optimal mix of high level skills and cost effective day to day financial management.
Work with a dedicated financial expert with in-depth local knowledge
Continuity in communication is important as your business grows, and we pride ourselves on offering proactive support. With our outsourced CFO services, you’ll have one point of contact based in Australia who is across the latest developments in the Australian accounting, tax and regulatory environment.
When to work with an outsourced CFO
From startups to corporations, all sorts of companies can be candidates for CFO services:
- You’re an entrepreneur who needs help with forecasting and analysing financial results.
- You have a small or mid-size business that doesn’t warrant a full-time CFO just yet.
- Your business has outgrown its small finance department and needs someone to manage more sophisticated planning.
- You don’t have the budget to hire a full-time CFO and would prefer to engage a contract CFO who doesn’t require other employee benefits.
- You need regular and custom financial reporting to make critical business decisions.
- You’ve raised capital and are now responsible for keeping investors updated.
- You’re hoping to raise capital and need to put together a compelling presentation for potential investors.
How to work with an outsourced CFO
Our job is to make outsourcing a CFO as smooth as possible. Here’s what to expect when you work with S&B Private:
Initial consultation and gap analysis. We work with your CEO and finance leaders to identify and address your challenges and priorities, focusing on scalable solutions that grow with your business.
Integrate and execute. You’ll get our virtual CFO set up with your systems and introduce them to the team.
Evolve and grow. We scale with your business, providing the support you need with a flexible engagement model. As your needs evolve, we adapt too. We’re always available to support you.
FAQs
Frequently asked questions about virtual CFO services.
When do you need an outsourced CFO?
If you’re an entrepreneur or a small or mid-sized business owner, an outsourced CFO can provide a clear financial picture and drive strategic growth without the high cost of hiring a full-time executive.
Where are your outsourced CFOs based?
Our outsourced CFOs are based in Australia and are available to attend your office and work with your team in-person.
What kind of experience does an outsourced CFO have?
An outsourced CFO typically has over 10 years’ corporate experience in a large middle market business or international corporation. While many small companies may employ individuals with less experience than this and give them the CFO title, in our experience many are not true CFOs. They are similar in experience to senior accountants or finance managers.
What can an outsourced CFO do for my business?
As a financial leader, a virtual CFO can identify growth opportunities, assess and mitigate financial risks, prepare financial projections and executive-level reports, develop investment pitches and more.
How does outsourcing compare to hiring an in-house CFO?
Engaging an outsourced CFO is a cost-effective and flexible way to access deep, specialised financial expertise. Outsourced CFOs typically work set hours laid out in their contract, and you can scale the services up or down as your business changes. They also have strong business networks and a wide scope of industry experience. Because of that, they can bring a better level of decision-making power to your business for a fraction of the cost of a full-time CFO.
Is my business too small to benefit from a CFO service?
Plenty of startups and small businesses can benefit from outsourced CFO services, especially if they’re not quite ready to hire a full-time CFO. If your business is experiencing rapid growth, a virtual CFO for small business can help you to scale strategically. And if you’re facing financial challenges, a virtual CFO can identify financial weaknesses and provide actionable solutions so you can meet your targets.
How do you ensure data security and confidentiality?
At S&B Private, we have robust and secure systems in place that follow cybersecurity best practices. Our IT infrastructure is managed by a reputable Australian managed services provider and built to meet the Essential Eight cybersecurity and data protection best practices. Our staff training programmes and IT infrastructure are constantly evolving to address new cyber threats. To find out more about how we mitigate cybersecurtiy risk, please reach out to our team.