For several years, the traditional role of the CFO has been changing significantly thanks to a multitude of issues (e.g., strict compliance regulations, economic factors, financial burdens) now faced by corporations of all shapes and sizes.
From huge, public companies to tiny, privately-owned mom-and-pop offices, there’s a burgeoning need for CFOs who “get” what’s going on today. Unfortunately, though, many organizations (especially start-ups or smaller companies) don’t have the funds to put a CFO on the payroll in a full-time capacity.
So where do companies who want a CFO find someone who can operate as a CFO but who don’t desire a full-time position? The answer can be found in a virtual CFO, a breed of individuals with the know-how to get the job done in the fastest, smartest way possible.
It’s no secret that today’s virtual CFOs have to be better and more efficient than their full-time, salaried counterparts. Virtual CFOs simply don’t have the luxury or stability of “tenure”. They cannot sit back and get comfy; instead, aggressiveness in staying up to speed on the latest legal, political, financial and even Internet-related topics is the name of the game. After all, any of those factors could affect the way their clients can (and should) operate.
Virtual CFOs are hired on a consultative basis, and that means they must live on the cutting-edge of their professions. Like all consultants, they can be terminated with less fanfare than would occur in a traditional full-time employee-employer arrangement. And that translates to amazingly economical options for the savvy businesses who hire this type of CFO.
FinancialFutureCFO.com is a division of McPherson, CPA, PLLC and serves all 50 states. The firm provides an inexpensive alternative to hiring a full time person. All services offered are overseen by Scott McPherson, CPA, CFE, CVA. Visit www.FinancialFutureCFO.com for more information. IRS Circular 230 Disclosure: Any tax advice in this communication is not written or intended by McPherson, CPA, PLLC to be used, and cannot be used, by a client, entity or other person for the purpose of avoiding penalties that may be imposed by the Internal Revenue Service. Article Source:http://www.articlesbase.com/management-articles/why-virtual-cfos-have-to-be-better-faster-and-smarter-1650104.html
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