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What is a vCFO?

We get the question, “what is a virtual CFO (vCFO)?” Simply put, a vCFO is a financial coach for small to medium-sized businesses (defined as high growth start-up to around $20 million in gross revenues) owner that is not large enough to afford/require a full-time CFO (the average full-time CFO costs upwards of $140k with benefits factored in). A vCFO takes a proactive approach to provide insights into the business in order to grow the organization or sell the organization. By having a vCFO focus on the financial health of the company, the owner has more time to focus on things he/she loves, such as more time with family, building the sales pipeline, or servicing customers.

A vCFO meets regularly with the owner(s) to review and discuss financials, financial performance, and forecasts to make sure the company is on track to meet financial goals. In addition to a regular meeting, the vCFO can perform the following items and more:

  • Build a more automated accounting system
  • Break-even analysis
  • Cost analysis
  • Due diligence on mergers and acquisitions
  • Develop and maintain key performance indicators
  • Develop key employee incentive plans
  • Liaison with third parties (attorney, banker, investment advisor, insurance broker, etc.)

Book a complimentary 15-minute call with our vCFO Luke Templin by clicking here to see if a vCFO solution would benefit your company.