Virtual CFO

“Statistics show that eight out of ten businesses fail due to financial mismanagement.”

Don’t be that business.

Are you experiencing the following in your business?

  • You don’t know how much cash is coming in or going out
  • You don’t have access to the right data to make decisions in a timely manner
  • Business is growing in complexity. Your accounting and financial function is struggling to cope with data and reporting demands.
  • Struggling to budget and forecast appropriately
  • Expenses are spiralling out of control and profitability is decreasing
  • As a business owner, you’re working more in your business than on it. There isn’t enough time to focus on the big picture.
The answer is a tailored, virtual, financial service matching your current business needs.

Who is a Virtual CFO?

A Virtual CFO works with your business on a part-time / ad hoc basis to provide strategic business advice & expertise across all areas of your business. By integrating into your day to day operations, they can keep an eye on reducing cost, increase efficiencies and help you run and grow a profitable business.

Hiring a Virtual CFO provides huge cost savings as compared to hiring a full or part time employee. You won’t have to pay on-costs or provide an office space or equipment. Most importantly, you can focus on your core operations as we monitor the financial pulse of the business.

When do you need a Virtual CFO?

No business is too small to hire a Virtual CFO. With a fraction of a cost of a full time professional, you get access to an experienced CFO who has a wide range of industry, corporate and business experiences.

Why should you hire a Virtual CFO?

virtual cfo why

Virtual CFO Services

  • Company health Check
  • Operational Review
  • Financial Reporting : Help you understand your financial position
  • Cash Flow Management
  • Performance Tracking (KPI Reporting)
  • Budgeting and Expense Control
  • Minimize Business Risk
  • Streamlining accounting functions
  • Training & Development of Accounting staff

Virtual CFO Packages

As you progress through the various stages of your business lifecycle, your need for financial information will grow and evolve. Accurate financial data is vital to the success of your business.  At MYM Accounting & Business Consultancy, we have different packages to suit your needs, from basic transactional reporting to data for strategic business decisions.

We can also create a custom package tailored to your specific business needs.

The Starter CFO

Ideal for: startups or businesses 1-2 years old

What we do:
• set up your initial budget and cash flow for your entire year
• establish your core financial processes and reporting requirements
• inform and educate important stakeholders about the business
• monthly consultations to organise company processes

The Growth CFO

Ideal for: Small to medium enterprises

What we do:
• monthly reports
• improved financial analysis
• cash flow management
• monthly KPI reporting to show progress tracking
• a quarterly budget to actual analysis report for insights into missed forecasts and expenses
• timely data to inform key investment or expansion initiatives

The Established CFO

Ideal for: Businesses in the growth stage experiencing scale and complexity

What we do:
• improved financial analysis
• cash flow management
• monthly KPI reporting to show progress tracking
• a quarterly budget to actual analysis report for insights into missed forecasts and expenses
• timely data to inform key investment or expansion initiatives
• access to detailed monthly reports

The Starter CFO

From $600 per month

Monthly Management Accounts

6 monthly Budget to Actual Analysis

Annual Cash flow and budget forecast

Catch-up calls 1 hour per month

Ad hoc work up to 2 hours per month

The Growth CFO

From $1000 per month

Monthly Management Accounts

Quarterly Budget to Actual Analysis

Cashflow Management

KPI Reporting

Financial Dashboard

6 month Cash flow and Budget Forecast

Catch-up calls 1 hour per fortnight

Adhoc work up to 4 hours per month

The Established CFO

From $1500 per month

Monthly Management Accounts

Monthly Budget to Actual Analysis

Cashflow Management

KPI Reporting

Financial Dashboard

Quarterly Cash flow and Budget Forecast

Catch-up calls 1 hour per week

Adhoc work up to 6 hours per month

Operational Review

Company Health Check

How does Onboarding work?

When you hire a virtual CFO for your business, we will spend the first few weeks on onboarding. During this time, we understand your business, any current and future challenges, your short term and long-term vision for your business.

Some common activities will involve:

Goal Setting

Understanding your short and long term goals. These goals will define what information you will need to achieve them.

Report Design

We develop reports with key financial data and KPIs in a way that makes sense to you or your team (visual versus numerical data).

Technology Recommendation

We will recommend systems that work more efficiently while balancing price, performance, security and stability.

Build or Enhance Financial Processes

We will review your internal accounting and finance processes and controls.
You will receive a 90 – 120 day roadmap of everything that will occur in this time. We will organise monthly meetings with you to review and discuss the financial reporting package.

Get in touch for a FREE consultation