Virtual CFO is a new adaptation to an old concept. It is made possible by advances in communication technology. The Virtual CFO does the same job as any other CFO with one difference—he is not on site. Rather, the virtual CFO stays in contact and maintains control by using powerful tools made available by advancing technology. A very efficient and smart CFO is behind all successful companies and Prudent Financial Management helps the owners/ entrepreneurs to determine; where the company has been; where it is now; and where it is going?
Financial planning involves analyzing the financial flows of the company and forecasting the consequences of various financing and investment decisions. Also, financial analysis is necessary for sound financing and investment decisions. The Virtual CFO/ Part-Time CFO play an active role in the following strategic and financial planning of the company.
- Financial Planning and Analysis
- Risk Management
- Business Modeling and Structuring
- Strategic Planning
- Budgets, Projections
- Management Information System (MIS)
- Reviewing banking relationships
- System Automation
- Business Reviews