How a CFO can Transform Your Business

No matter how small your business may be, having a CFO can transform your business. Over many years in the industry, the three biggest challenges I see small to medium businesses face are cash flow, time management and growth. By engaging a professional who is solely focussed on the finances of the business, you can focus on the other core areas of the business whilst the finances are taken care of.

What is a Virtual CFO?

A Virtual CFO is a Chief Financial Officer who provides the services of a CFO but instead of delivering those services as a salaried employee, a virtual CFO works remotely and would usually be providing this service to several businesses concurrently.

Why would I use a Virtual CFO?

Currently, there are more facts, figures and data available than ever before. A Virtual CFO will thoroughly analyse this regularly and provide you high level, strategic guidance. A VCFO provides insights on your businesses performance and operational advice based solely on your real time financials and business intelligence. They can provide strategic leadership behind the scenes, empowering business owners to make sound and informed decisions. A VCFO can help you set targets, allocate capital, manage productivity, assist with pricing, assist with debt and identify opportunities.

What are the Benefits of using a Virtual CFO:

  • VCFO services are customised to your needs and budget, it is not a ‘one size fits all’ scenario.
  • You instantly gain their experience and insights into small to medium businesses to be able to provide solid advice to your business.
  • You can be assured that your finances are being handled by a skilled professional
  • You don’t have the full cost of hiring an employee. Traditionally, CFO’s are executives who outrank managers and directors, and have a salary to match their executive title.
  • You have someone proactively managing the finances at all times.

What Should I Consider when Hiring a Virtual CFO?

  • Be sure to find out what their availability is, how much of their time are you paying for per month/ year etc.
  • Check their credentials and testimonials. Start with verified online reviews such as Google.
  • Confirm with them your expectations, their expectations and put these in writing.
  • Obtain upfront all fees and charges so you have full transparency.

Having the confidence to make more informed financial decisions about your business is imperative for your businesses ongoing success. You can have the benefit of a high-level finance resource without breaking the bank.  So many businesses happily outsource web design or marketing, so why not get a finance expert to assist you in transforming your business and setting you up for ongoing success.

At Sum and Substance, we offer virtual CFO services, to find out how we can help you transform your business, we can be reached at (03) 9424 9447 or You can directly book in a time to chat by clicking here.


You can read about our virtual CFO services here.