As part of the finance director service we are top of the tree when it comes to helping a business make financially related business decisions. We know that it's important everyone understands what the budgets are, how the company is performing and what needs to be achieved. As the Virtual Director we’ll be the guru of all this information and educate the business owners and key management team so that they become the gurus also. Some of the key functions of this role will be;
- Monitoring business performance
- Supervising and supporting the accounts team
- Developing financial models and real time forecasts
- Planning for the future
- Real time financial data monitoring and analysis
- Addressing any funding needs
Whilst a good finance director is expensive, many businesses do not need them in a full-time position. The day-to-day running of the finance team should be well run by process, ensuring an efficient streamlined function. In this case, having a good business advisor, acting as a virtual FD, could be the solution. The scope is flexible, and the business retains control and allows for focussed effort on what is important.
Generally, a virtual FD is always on hand to answer any questions arising or to discuss ideas, and attends monthly or quarterly board meetings to discuss results and direction of the business. Outsourcing this position means that continuity of service is maintained, and the virtual FD can dip into a wide-ranging talent pool within the organisation. in the changing world today, there must be no misunderstanding as to how much value the virtual FD can bring to a business.