What is the Virtual CFO?
In small and middle-sized companies a strategic mind is essential even when dealing with daily affairs. Where future targets cannot be separated from today's and tomorrow's decisions, where structures are not detailed yet, where rules are more global than fine-tuned and compliance is more personalized than institutionalized, the role of a finance responsible in SMEs is more like a CFO than that of a manager fulfilling a task and following rules.
But the professionalism of the Financial Leader designing future of an SME is costly and may in small companies not even require a full-time person. That is where the virtual CFO steps in.
The virtual CFO is professional to cover all responsibility of a CFO in a small or medium sized company. He has the long-term strategic view, he knows what growth means for the company, for financial resources, employee skills, process details and asset capacities. Improvement capabilities, balancing financial requirements and supporting business development in the same moment are key for him.
The virtual CFO is virtual as he is not the company's employee and mostly he is not full-time involved like an interim manager. His virtual preoccupation is thoroughly, while his physical attendance is limited. Virtual is more than remote! The virtual CFO is real and fully responsible like a CFO in every minute he is present or not.