Virtual Finance Director (VFD)
With our VFD service you get an experienced senior finance professional working with your business on a part time or “ad hoc” basis, essentially a virtual member of your business.
In this way, you get access to a senior financial resource to help transform business performance, but without the expense, headache and risk involved with employing a Finance Director (FD) or Chief Financial Officer (CFO) on a full time salary.
Our VFD service will provide the necessary expertise to help you develop and grow your business through improved processes, controls and operational reporting, which supports overall decision making. As an additional benefit, having a VFD on board also provides additional credibility when dealing with HMRC, banks, prospective acquisitions, as well as third party funders or investors.
Our service can take the form of the following:
- a purely interim role for SME’s looking to hire a permanent CFO
- as an ongoing external advisory role of a few days per month, or
- a much more involved role on a short term or longer basis
- Compliance – Do you have compliance issues taking up too much of your admin time?
- Credit Control – Do you have poor processes around your credit control resulting in poor cash flow or bad debts? We will help you implement a formal structure and weekly/monthly process to achieve successful credit control.
- Cash Flow – Lack of cash or reliability of cash receipts? We will help you improve management of cash flow
- Budgets & Forecasts – Are you struggling with achieving targets and lacking a clear growth plan? We help you set financial goals in advance enabling your business to grow.
- Management or Operational Reporting – Are you making business decisions without clear information being available? We will encourage better decision making via identification of business KPIs, improved financial analysis and creation of a quality executive/board pack.
- Profit Analysis & Improvement – Missing out on successfully improving margins or managing business costs? We will review margins, opportunities for additional billings, upselling alongside cost management and control.
- Risk Analysis – Are you aware of the risks that could potentially threaten your business? We can help to highlight areas of concern or potential risk alongside means of mitigating risk.
- Establishing and Mentoring of an In-House Finance Team – Worried about the cost, time and risk associated with taking on an in-house team? We can help you establish the right team and mentor them to make sure they are in the best position to help your business grow.
- Commercial Business Projects – Not clear on the financial risks and opportunities associated with new business ventures? We will make sure you make the most of new commercial projects.
- Expanding Your Business in the UK or Abroad – Unsure of the financial implications of expansion? We will provide you with practical approaches to better manage risk and spend.
- Business Exit & Business Planning – Managing a programme of internal change to better prepare for challenges as part of an exit and/or due diligence process.
The VFD role is provided to SMEs either on a ‘pay as you go’ basis or more cost effectively, on a monthly retainer basis for an agreed period with prices starting from £400 per month.
Find out if the Virtual Finance Director Service is right for your business by booking a free business health check, completely without commitment. The Business Health Check will provide you with a 45 minute meeting with one of our senior finance directors highlighting 2-3 key issues and offering recommendations for how to resolve these.
See how we’ve helped some of our great Clients succeed with our VFD Service: