Below are some common questions and answers to assist you in understanding more about our service
How are you different from other virtual CFO advisory practices?
We are a boutique CFO advisory firm. The service you get from us is access to a real high caliber CFO in your business. Quite a few of the larger CFO advisory practices have CFOs that do the business development, selling and management of the firm, while junior staff does the client work. In our model, you get what you see - you will meet our Managing Director and he or an equivalent CFO will look after your business.
Do you provide General Ledger Book-keeping and Accounting Services as part of the service?
No, we are a CFO advisory service. We do not provide this service because book-keeping and accounting services can be provided by other providers who are much cheaper than our service. We believe in value for money and our service is that of a CFO. We can recommend a number of providers you can utilize for this service, which we can also partner with to deliver joint solutions.
Another virtual CFO firm we spoke with provides accounting and book-keeping services. Why should we go with you as opposed to them?
As stated in the previous answer, as you are paying for our time, we want to spend that time acting as your CFO and being a part of your business. Other firms are happy to do an all inclusive service because it allows them to utilize more junior personnel for your business. With us, you get a real CFO and we leave the book-keeping and accounting to others. If you do want a one stop shop solution we are happy to source partners from our network to provide accounting, tax and book-keeping services in concert with ours.
We have a qualified accountant (or a book-keeper) in our business. Are you able to direct them, work with them and oversee the work they do?
Yes. It is part of our standard CFO service to direct the accountants and finance team. In the case that you outsource accounting/book-keeping we can work very effectively with the outsourced accountant and direct them. In circumstances where there is an existing CFO we can also work directly with them providing mentoring and guidance whilst partnering with the key stakeholders in areas where the business requires a more experienced skillset.
We are a real functioning business that tends to dislike consultants who sit in ivory towers, wear shiny shoes and act like they know more about our business than us. How are you any different?
We do not own any shiny shoes and have never spent much time sitting in ivory towers. In all seriousness we are not professional consultants who use theoretical approaches and think they know everything. We have spent a long time working in similar businesses and understand all the work that goes in. Our objective is to help make your business better but before we do that we will take the time to learn how your business works and build rapport with you and your team.
How do you charge for your work?
For our Core CFO Advisory package we charge a monthly retainer based on the amount of our time we estimate will be used in the course of a month. The time we estimate is something we will build up in the planning process through collaborating, recommending and agreeing with you before formally engaging. For transactional work we charge using a combination of monthly retainer and success fees.
We have never had a CFO before so are unsure how you could help our business. Are you available to look at our business and build up a scope of services for us before we commit to anything?
Yes, we offer free upfront consultations and are happy to spend time working with you on an engagement scope free of charge before you commit to anything.