How To Have A Virtual CFO Help Guide Your Business Decisions!
The Role Of A CFO
Most larger businesses have an internal Chief Financial Officer (CFO) or a Financial Controller. Clearly, larger businesses can afford an in-house CFO, but it goes beyond an affordability issue. Large, successful businesses also understand how crucial the CFO role is to their business performance.
What Is The Role Of The CFO In A Business:
- Keeps a close eye on the numbers and trends,
- Alerts management when preventative actions are required,
- Helps management create sound forecasts and plans,
- Ensures the cash inflows and outflows are managed well so the business never runs out of cash or needs to borrow in haste,
- Reports on revenues achieved compared with targets,
- Gives solid information on a range of Key Performance Indicators (KPIs) to the business decision makers, and also
- Helps management with decision making.
This is management input that all businesses require regardless of their size.