complete financial know how

The Virtual Finance Director

An innovative cost effective way for small businesses to manage their finances 

The Virtual FD is an effective way for your businesses to get access to an experienced financial professional at a fraction of the cost of a full-time FD.

What do they do for you?

  • Handle all the duties of a traditional FD, but work remotely and on a part-time basis
  • Monitor the financial health and well-being of your business
  • Offer financial insight and guidance on all company decisions and issues
  • Provide back-office functions such as managing accounts ledgers, depending on your needs
  • Creating budgets and forecasts
  • Pinpointing problem spending by highlighting trends in the market

Working in partnership with your business, a Virtual Finance Director works on site with the management team, gaining a deep understanding of your business to guide you through strategic financial decisions.

Every business has different financial needs. It’s vital to tailor your requirements, so your business gets the right amount of FD time when you need it.

Signals that your business is ready for a Virtual Finance Director

  • Growth – are you planning for or experiencing strong quarterly growth? It is vital your finance planning is in place to avoid the pitfalls of overtrading. An FD will ensure you have the right financial foundations for sustainable growth.
  • Exit – one of the hardest decisions to make is knowing when to leave a business in which you have invested considerable time and effort, having a clear strategy and action plan is vital. It is never too early to start planning. Having an experienced FD to help develop possible exit strategies will ensure you maximise the value of the business when it is time to sell.
  • Financing – does your business require additional financing? There are many reasons businesses require additional cash and matching the type of borrowing with the need is vital and will save the business money. An FD will understand the right financing option to suit the requirement and partner with you to negotiate with lenders.
  • Strengthening – the key to a business growing successfully is building strong processes and controls and creating informative, real-time management reporting. Whether your business is a start-up or in a phase of maturity this is essential to allow management to maximise the profitability of the business and maintain strong cashflow.
  • Challenges – every business experiences challenging times, common examples are cash shortages, overtrading, loss of a significant customer. At this stage, the advice of an FD is critical to driving a turnaround back to growth. Strategic decisions such as re-structuring, financing, redundancy and diversification must be made based on robust financial analysis.

The business benefit of a Virtual Finance Director?

  • Process – strengthening your financial processes enabling a real-time financial view of your business specifically forecasting, cash flow management and monthly management accounts.
  • Systems – review of your businesses financial systems and recommendations to optimise and support growth. Project management of new system implementation and ongoing support.
  • Cashflow – analysing cashflow, identifying & advising on shortage and maximise return on excess cash. Improve day to day working capital management.
  • KPIs – identify the businesses critical KPIs and develop monthly reporting on them.
  • Financing advice – based on your needs, identify the most suitable borrowing and work with the lender to broker the best deals.
  • Restructure – understand the profitability of each area of your business and take steps to streamline where necessary.
  • Exit planning – advice on the best exit strategy to maximise the sale price of your business.

Interested in a free business review?

If you recognise any of the signals your business is ready for an FD or simply want to talk through your business goals and challenges get in touch and organise a free business review.

We can establish your business needs for an FD, create a bespoke financial package to suits how your business works.

The AdVantage Virtual FD services range from a quarterly board review to weekly onsite support. Our aim is to match our advice with your requirements so you get the exact level of support your business needs at that point in time. We will then partner you through the different stages of your businesses life providing the financial expertise needed to support your business goals.

Watch out for our new AdVantage website, coming soon…

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Posted in: Blog, Cloud Accounting, SME Business