The Chief Financial Officer is a position that successful businesses have had for decades.
Thanks to modern technology, small businesses are taking advantage of this resource as well. CFOs use their expertise to aid in financial planning, from bookkeeping to strategic advice.
A virtual CFO is just one that recognizes the advantages of the current computer age.
Virtual CFOs usually work remotely as part-time employees.
They get rid of the need for offices and benefits and focuses on their most useful aspect, their knowledge, and business owners can search for the very best, no matter where they are, because working remotely no longer means “hard to reach.”
Video chatting and screen sharing make communicating even complex topics easy to do. Also, with email on every phone and phones that can go anywhere, mobile technology means they are as easy to reach as if they were in the office down the hall.
However, one of the greatest tools a client and vCFO will use is a cloud-based system.
This is a network that allows for data to be shared in real time.
Allowing files to be synched and reports to be updated whenever they are accessed. With the cloud, both vCFO and business owner are on the same page, even if they are in different time zones.
This type of software often allows them to automate many of the more basic tasks, such as linking with bank accounts and having daily transactions logged automatically. However, computers are only as smart as the people who run them.
To learn more about virtual cfo services and outsourcing accounting, HR, and payroll services, please contact us.