Upon learning about all those companies that have been using online accounting or cloud-based technologies, plus all your business partners and industry neighbors who have been encouraging you to hire a virtual CFO, haven’t you still come to the realization that your enterprise really needs one?
If so, don’t think that we’re saying your current full-time CFO (if you do have one) is not doing any good for your company. It’s just that, considering to hire a Virtual CFO could actually be more beneficial to you, especially if you own a small or a medium enterprise.
Don’t worry, we won’t ever keep you hanging. You friends here at Enterprise Global will help you realize the benefits of working with a virtual CFO. And hopefully, as you reach the end of this article, you’ll be sure that hiring a virtual CFO is something that you really need to do for your business.
Expert Services With a Price Tag You Can Afford
Let’s be honest. Almost all SMEs can not actually afford to hire an in-house Chief Financial Officer. It’s just too expensive. Thus, they do all the strategic planning, budgeting, forecasting, financial management, and etc themselves.
You can now afford to get expert CFO advice by outsourcing virtual CFO services. You can even find and hire one that’s just right for your budget. And the best part is, you wouldn’t have to worry about providing insurance and healthcare benefits, annual salary increase, travel or entertainment funds, and other company benefits. Simply put, pay for CFO services when you want and how you want it.
Your Needs Addressed Real Time
Hiring a virtual CFO provide you greater flexibility. Just like what we have mentioned earlier, you only pay for the services that you need. The CFO’s primary role is to conduct financial analysis and interpret key business metrics. In short, they exist to explain the meaning behind your financial reports. This is critical to ensuring that you are as informed as possible when it comes your business’ current financial health as well as your financial future.
If you’re like most small business owners, financial modeling and forecasting may not be in your skill set. However, a well-trained CFO will be able to conduct scenario analysis to help identify new ways for your business to exploit market opportunities. This can help you to gain a competitive edge in your industry and scale your business in the future.
Moreover, virtual CFOs are considered as on-call experts. Using recent financial data and reports, they are able to provide real-time assessments and recommendations. Basically, with a virtual CFO, you won’t ever have to worry that he/she is currently engaged in some other task. He or she is just focusing on fulfilling the duties he/she has agreed to do for you.
As If You’re Hiring a Business Consultant
When you hire a VCFO, it’s basically the same as getting help from a financial and management consultant. The fact that they are hired from an outside organization or firm, they will definitely provide you an unbiased and independent assessment of the key areas of your business. Because their perspective is different from yours who’s on the inside, they will be able to provide fresh insights and recommendations. And finally, because they are not directly impacted by your company’s internal influences, they’ll show you a different take on analyzing your next financial moves.
If even after those 3 benefits you’re still hesitant, take a look at these questions. By honestly answering each of them, you’ll be able to know if your company in Singapore is really in need of a virtual CFO:
- Is your business experiencing cash flow management issues?
- Do you wish to streamline your business operations by creating proper budgets and forecasts?
- Do you think you need to migrate to a cloud accounting software?
- Is your business revenue growing rapidly?
- Is the Singapore industry you’re in super competitive and dynamic, requiring you to move quickly on business deals?
- Do you wish to scale your business but aren’t sure whether your decisions would help or hinder your financial future?
Now if you’ve answered a YES to most or all of these questions, then hesitate no more and speak to us regarding our Virtual CFO services. We’d be more than happy to address all your questions and concerns.