The Virtual CFO

The Cost of a Full-Time CFO: Is There a Better Alternative?

With the average annual base salary for a Chief Financial Officer (CFO) sitting at $163,342 (PayScale, Australia, 2024), not every business can obtain the value of a trusted expert full-time in their financial team. As a business owner, if you could drive business growth, streamline operations and unlock revenue all while saving you the cost of a full-time executive, your financial conscious is likely saying “Tell me more”!

Unlock Your Business’s Competitive Advantage with a vCFO

Our virtual CFO service (vCFO) is designed to help our clients redefine what it means to be financially savvy in the digital age, ensuring each business can unlock its competitive advantage.

We note that for many people the word ‘virtual’ conjures up an automated bot operating from some far-flung corner of the universe! It couldn’t be further from the reality of our service, operated by real humans, right here in sunny Queensland.

What Can Our vCFO Do for Your Business?

The value our vCFO can provide your business is extensive; they can oversee the financial operations of your company and provide strategic insight into the decisions which influence the performance of your business. Croy Advisory vCFO provides services ranging from budgeting, management accounts and analysis, cash flow analysis, business valuations, capital budgeting, forecasting, data lead decision-making, AI and machine learning. Collaborating with our vCFO shifts the focus from merely cutting costs through a ‘rejection’ strategy to enhancing revenue and retaining a growth mindset.

Bridging the Information Gap: Empowering Business Owners

A survey of business owners by Harvard Business School revealed that 70% of respondents lack access to crucial information, a deficiency that can significantly impact decision-making processes (Harvard Business Publishing Corporate Learning, 2022).

Our vCFO service bridges this gap, providing your business with the necessary insights to drive success and high performance, all without the substantial overheads associated with a full-time CFO. Envision on-demand, high-performance dashboards for your decision-makers, highlighting key business trends.

Our team’s commitment to accountability ensures your business remains focused on achieving the profit targets you aspire to deliver. We stand ready to collaborate on pivotal financial decisions to help you realize your strategic objectives.

Driving Business Transformation for Financial Success

Real-Life Results: A business transformation strategy meticulously focused on achieving a 5% improvement in key profit-driving metrics. With the support of our VCFO, implementing a robust strategic plan and ensuring accountability could realise an additional $375,000 or a 15% increase in gross profit.

Strategically outsourcing to our VCFO can equip your business with both agility and scalability. By eliminating the need for a full-time employee, you can reallocate your business’s cash flow and reinvest the capital savings into other strategic growth opportunities. Your business stands to gain significantly from our expert VCFO, who will concentrate on the vital financial success metrics of your business.

Our VCFO service is not just a cost-saving measure, but a strategic decision that can propel your business to new heights. Don’t let financial management be a stumbling block in your path to success. Contact us to experience the transformative power of strategic financial leadership with our Virtual CFO services.

References:

Harvard Business Publishing Corporate Learning. (2022). Level Up Your Leaders: The Three Critical Business Acumen Skills They Need Now. Harvard Business School Publishing. Available at: https://www.harvardbusiness.org/wp-content/uploads/2022/08/Perspectives-Level-Up-Your-Leaders-The-Three-Critical-Business-Acumen-Skills-They-Need-Now.pdf [Accessed 15 Jul. 2024].

PayScale. (2024) Average Chief Financial Officer (CFO) Salary in Australia. Retrieved from https://www.payscale.com/research/AU/Job=Chief_Financial_Officer_(CFO)/Salary