Virtual CFO

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When it comes to managing a company, it can be challenging to understand how to monitor the cash flow. It requires a special way of thinking and planning as well as some advanced knowledge about finance and business. You have to develop a strategy that promotes growth and you have to be able to assess all of the ways to accomplish that goal. You need to have someone with outstanding managerial skills to guide your company in a direction of prosperity. You need to carefully plan how to distribute your revenue correctly, when to save and when to spend money to ensure the success of your business.

Here at Envolta, you can have a consultation with an expert CFO on our virtual CFO Service. It’s suited for small businesses and start-ups as well as growing corporations and mid-sized companies. Small businesses can choose to promote growth with a smart financial strategy and the help of our dedicated CFO. Schedule a free consultation and learn about our services.

Do I Need a CFO if I Already Have a CPA?

Their roles and duties are complementary but not interchangeable. If you have a CPA that doesn’t mean you don’t need a CFO. Many CFOs come from an accounting background anyway. A company’s CPA determines the trends about the business and assess the company’s financial profile. They analyze the financials, tax statements and other bookkeeping data to gather information that enables them to interpret trends in the business. Their job is also to create various financial reports for the company that illustrate the state of their finance.

On the other hand, a CFO will make use of the information CPAs and other accountants gather and they will base their financial strategy on it. They will perform advanced data processing in order to handle day to day finance in a way that drives the company’s overall growth. They make sure that the goals of the company stand on stable financial foundations and they control the expenses and investments. Some of their daily activities include:

  • Raising capital for the business by interaction with investors, managing loans or securing additional novel methods of financing
  • Giving directions to the sales and marketing departments
  • Have a project-based approach to increase organizational profitability and engaging with different departments from the company as necessary
  • Consultation with the key financial advisors of the company
  • The CFO is responsible both for short term and long term financial planning.

A CFO is a professional who knows how to guide a company to spend their money wisely to get a return on their investments and to enable stable and constant growth.

Who Needs a CFO?

You can, generally speaking, work without a CFO if you run a small business. However, if you have plans to grow and expand it, CFO’s involvement will make things much easier for you. As a broad rule, you begin to need it once your revenues surpass $1 million, but if you employ one earlier, it’s still a good investment. We offer you an opportunity to have a virtual CFO Service here at Envolta. That way, you don’t strain your budget initially, but you get the necessary expertise and assistance with all important matters. By utilizing our virtual CFO Service your company will stay on the stable financial ground and you’ll always have an experienced manager you can turn to. From our Ottawa office, our CPAs and business development professionals will help your business grow and offer you valuable advice continuously wherever you are. Get in touch with us to schedule a consultation and talk about your goals with us. We’ll make sure you have a professional watching your back.