At Ezee Pte. Ltd – we get many queries on our Virtual CFO Services Model. We decided to write a blog post on this topic to hopefully make it a bit more easier to understand.
Who is our ideal customer for Virtual CFO Services – There is no limit as to the nature or size of the company that we can assist. Typically startups or businesses that may have 2 or more legal entities are generally best suited for Virtual CFO services, especially when the entities are located in different countries across the region and where there are no internal finance resources. Such companies typically outsource their accounting and local statutory filing requirements but there is a gap in terms of the communication between the company and the outsourced service provider. With larger more established SME’s or MNC’s, the engagement can be a project management role or for Mergers and Acquisitions or even backfilling for maternity cover or acting as a bridge until a permanent hire is found.
What are the key areas that the Virtual CFO can assist with ? – There are a number of areas which the Virtual CFO can assist with including Investor Communications, Tax, Transfer Pricing for cross border group transactions, Compliance, Statutory Filings, Audit, Metrics, Treasury, Processes and Controls to name a few. Typically startup founders are focused on the operational aspects of running the business with little to no experience in these financial matters and need someone with the experience to help them manage.
How much time does a Virtual CFO normally spend with the client ? – The answer to this depends on the size of the company and their needs, but clearly this is meant to be a part time arrangement and the time spend can be increased or reduced as the relationship develops. The Virtual CFO is flexible enough to work with the existing internal resources, any outsourced service providers that may be engaged in country as well as the management team to provide the necessary support and guidance. As processes are established, documented and are operating at a regular cadence, the focus can shift to more value added and growth related advisory.