Virtual CFO Accounting Services For Small Business

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NEVER FEEL IN THE DARK AGAIN ABOUT YOUR BUSINESS’S FINANCES AND FUTURE

At Lucent Advisory, we illuminate the financial facts a business owner needs to operate successfully, with advice from expert outsourced Chief Financial Officers (CFOs) or what’s commonly known as a Virtual CFO.

     Lucent’s Virtual CFO accounting Services Include:

  • Strategic planning and goal setting
  • KPI set up, monitoring and reporting
  • Financial Reporting for Management and Boards
  • Cash flow Management
  • Budgets and cash-flow forecasts
  • Periodic meetings with a qualified CFO
  • Integrated tax planning and advice
  • Exit planning and strategies

Benefits of CFO Services for Small Business

  • The right CFO services for small business will improve your business operations and help you plan for growth
  • Your long-term strategy needs the right data and information
  • Virtual CFO services for small business are a more economical option and can tailor services to your needs

Only when Managing Directors and CEOs of growing businesses have control of their numbers, can they create the strategies that drive revenue, cash flow and, of course, profit.

Whether you’re in a growth phase, scaling up, preparing for sale or just ticking along – having accurate and reliable financial information at your fingertips is critical.

Combining invaluable experience accounting and bookkeeping services and proven strategies with world-leading accountancy software tools, our Virtual CFOs will work with you and your management team to introduce external accountability and discipline into your structure.

A Virtual CFO can assist your business to gain strategic perspective and world-class reporting at a fraction of the cost of hiring a full-time CFO, saving costs without compromising on financial leadership. Our services are cloud-based – you won’t experience the geographical limitations of finding someone in your area as you can engage with us online.

Our expertise expands with your business needs – we expand the scope and level of sophistication only as you need it while maintaining the continuity that comes with working with trusted resources over the long term. 

As your Virtual CFO, it’s our job to ensure you have all the information you need to stay on track to achieving your goals. Because it’s only when you have the big picture, that you can make the big decisions.

FAQs

What do CFO services include?

A traditional CFO acts as the head of accounting for their company and answers to shareholders, board members, and employees. This means they must be well integrated and know the ins and outs of the company like the back of their hand. The CFO is responsible for the financial decision-making and planning of the company’s future, which involves an entire team working with data to provide updates and meaningful reports and ensuring compliance with the law.

What does a virtual CFO do?

Virtual CFO’s offer all the knowledge and expertise of a CFO, allowing them to take on the many responsibilities that drive cash flow, profit and growth for the business. Virtual CFO’s provide small and medium-sized businesses with expert-level advice, financial planning, strategising and reporting – all without the price tag of an internal CFO.

Virtual CFO responsibilities include:

  • Resolving finance challenges such as cash flow problems, tight margins, improving operational inefficiency or making strategic cost cuts.
  • Advise, consult and implement plans and strategy
  • Scaling systems to handle growth and automate processes
  • Provide financial forecasts including budgeting, fundraising, analysing financial position of a company, projecting growth etc.
  • Analyse financial data and create reports to aid in strategic decision making

Why do you need a Virtual CFO?

In smaller businesses, finding a way to combat the high cost of hiring full-time employees can be difficult. Facing these problems head-on by creating budgets and forecasts with your virtual CFO may just save you money in other areas! You’ll have someone who is knowledgeable about what’s going on financially at all times so they won’t miss any trends or changes–and it could help convince management not to make poor decisions based on optimistic revenue projections when there are more realistic expectations out there waiting for them.

A Virtual Chief Financial Officer (or VCFO) provides great value as an affordable alternative solution while also saving smaller companies costs associated with full-time executive-level salary employees.

How would a Virtual CFO work with my company?

The Virtual CFO is a revolutionary concept that will change the way we do business forever. The services provided in this new frontier are different for each business, but usually include:

1) Handling all duties of an internal office-based chief financial officer position while working remotely and on a part-time basis;

2) Monitoring the financial health of your business through cloud technology like Xero;

3) Servicing your business with intelligence from many other businesses in your sector gives you a market edge with a deep understanding of your industry as vCFO’s work across many businesses, not just one.

How do I get started with a Virtual CFO?

Simply book an appointment for a strategy call for a free consultation for your business. The onboarding process requires gathering access to your cloud-based management systems, and if you don’t have any, this can be part of your package, to migrate you to future-proof cloud-based ways of working. Get in touch today and see how your business can benefit.

Why does your business need a Virtual CFO?

While a bookkeeper’s role is to maintain and operate the books and records of the business, looking back at data already generated, a CFO takes a broader role in planning for current and future financial needs of the business. To do so, the CFO must be able to understand past financial performance in order to accurately predict and plan for the organisation’s financial future.

A Virtual CFO offers all the knowledge and expertise of a CFO and delivers it when the business needs it – only paying for the functions that they need at the given time. Virtual CFO’s provide small and medium-sized businesses with expert-level advice, financial planning, strategising and reporting – all without the price tag of an internal CFO.

When you bring a Virtual CFO on board you’re also accessing an entire team of financial professionals who combine their individual skills and experience to make better decisions for your business.

What are virtual CFO services?

While every company can benefit from the expertise and high-level planning and strategies from a CFO, not every company is in a position to hire a full-time CFO.

Virtual CFO services solve this problem by offering companies the ability to hire world-class virtual CFO’s who deliver work based on the company’s needs, saving costs without compromising on financial leadership.

If you’d like to find out more about Lucent Advisory virtual CFO’s services and see how a virtual CFO can assist with your business goals, book a free no-obligation call with our Managing Director, Rachael Turner.

How much does a Virtual CFO Service typically cost?

Much less than the full-time equivalent of an executive-level CFO! Get in touch today to understand what a vCFO service could look like for your business.

How much will outsourced CFO services cost me?

With packages starting from as little as $295 per month outsourced services for CFO Advisory doesn’t cost as much as you think!

Get in touch today for a quote that’s appropriate for the size and complexity of your business. Everyone has different needs. A conversation is no obligation, so what have you got to lose to find out?

Contact us. We’d be happy to help you work out your service cost, and most importantly how much time and stress we can save you!

Book a Free Strategy Session here

What clients of our virtual CFO service say….

“With a team that is available, approachable and professional, they now take care of my business bookkeeping, accounting and taxation needs. I find that Lucent advisory will work with their clients to achieve the results they need to make timely business decisions, even if it means that they customise your reporting needs to suit your style. I have referred several people to join as Lucent Advisory clients who are now grateful to finally find a financial team that cares. I recommend them for all accounting services no matter how big or small.”
Cara Miller, (former CEO) Sound Radiology

“Since working with the team at Lucent we have achieved a better understanding of our business performance.”
Brigitte Lane. Adelaide Obstetrics & Fertility

“To my Lucent dream team, thank you so much for all of your help, support, guidance and hard work this year in supporting clarity; it has been a crazy year and a stressful time that has been made much easier knowing there is a kind, helpful and caring team behind it. I’m really grateful for all your hard work, thank you.”
Sarah Watson. Managing Director, Clarity Massage & Wellness

“Thank you for everything – there’s not a day that I am not so very grateful to have made the change to Lucent and have you supporting me. I really can see light at the end of the tunnel in the near future. Thank you sincerely.”
Katrina. Director, Pinky’s Fencing

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