Running a small business is no easy feat. Entrepreneurs are the hardest working people I know. There is never enough time to put all aspects of the business in the right direction. From making short and long-term business decisions, handling bills, coordinating employees, and dealing with the cost of operation. It’s difficult to run a small business without external help from professional financial experts.
Small businesses with the right bookkeeping and accounting practices achieve their goals and expand faster than their counterparts without proper bookkeeping practices. Hiring a virtual CFO allows you to outsource the management of your financial operations so that you can focus solely on your growing business.
Small business owners without prior finance and accounting knowledge and background find it difficult to manage the numerous financial aspects of running a business. However, with a virtual CFO, it is possible to have financial experts to manage the bookkeeping and accounting functions of a small business while also advising you on current and future business financial decisions.
Hiring a virtual CFO with Financial Optics will allow you to reap the benefits of outsourcing your financial operations while also gaining the advising expertise of professionals with years of industry experience.
Our team can ensure that your business’ books are always in balance and free of errors. We take an individualistic, comprehensive approach to virtual CFO practices with each of our clients, and we will cover everything from cash flow management and year-end reporting to bank reconciliation and invoicing. More importantly, at our CFO level service you have a financial advisor in your corner helping you make moves to improve the financial results of your business. We also help you see the financial future of making moves today with our financial forecasting services.
Whatever your business needs, we can handle. We take a hands-on approach to finances for your business while also allowing you the flexibility and freedom to approve, change, or make any adjustments as needed. After all, it is your business! We’re just here to make your life easier any way we can, including advising you on current and future financial decisions or changes you may make.
No matter what service you’re looking for, we have the professional expertise necessary to understand and navigate the complexities of any financial or tax challenges your business may face. Our team can provide you with knowledgeable guidance and help you to make informed financial decisions when it comes to your business.
Benefits of Hiring a Virtual CFO
It can be expensive and incredibly time consuming to interview, hire, train, onboard, and maintain an in-house accounting department. In fact, the cost of hiring a full-time in-house CFO can range from $175,000 to $480,000 per year, not including vacations, bonuses, and other benefits. This is way out of reality for most small to medium businesses. But you still need the financial clarity, insight and foresight a CFO provides.
In addition, your business may not be large enough to warrant a full in house accounting department for its day to day financial and accounting operations. Our Virtual accounting, controllership, and CFO services can provide you with strategic financial support at an affordable cost.
Hiring a virtual or fractional CFO saves operational costs that could go into the growth of the business. You can increase the number of your sales staff, get more equipment, or even expand the physical facility of your business.
Outsourcing the financial aspects and advising of a business to Financial Optics will ultimately earn small business owners more time and financial freedom. How? By outsourcing your financial services, you have the freedom to work on your business while someone else handles your accounting. And you have a financial advisor in your corner to save you time when it comes to making big decisions that affect the financial future of your business.
Taking care of all financial tasks on your own while trying to effectively run your business can be hard, stressful, and time consuming. Let us take the finances off of your plate so you can spend more time actually running your business.
Decreased Errors and Increased Accuracy
Hiring an in-house CFO and business advisor involves a lot of training – everything from onboarding to getting your accountant or accounting team familiar with your industry and your business. And, frankly, do you really have the financial expertise to properly manage an in-house accounting team and CFO? Do you really know what the expectations should be from this key business process?
We can offer accuracy from the start.. We use automated systems and models that suit your business to track and keep financial records in order. We have processes for double and triple-checking transactions and records for accuracy, thus the chances of errors or oversight are extremely low.
Small businesses can take advantage of our virtual accounting, CFO and advising services to improve their operations and reduce losses due to financial mismanagements.
More Services (But Only When You Need Them) when Business Expands
When you work with Financial Optics, you don’t have to worry about hiring more hands as you expand your business.
Our virtual accounting and CFO services offer different packages tailored to fit your business. As you increase your sales and expand your reach, all you have to do is upgrade your current plan to take care of the new demand.
Another benefit of outsourcing CFO services to us is the use of online, secure systems for financial records and bookkeeping. Unlike most traditional accountants and CPA firms, our modern and synchronized approach means we’re not using outdated systems to record financial transactions. All your financial information will be at your fingertips as long as you have a connection to the internet. You’ll have access to your business financial records from any location, 24 hours per day and 365 days per year.
This means you can access your business results, track your transactions, and get information on your cash flow with a simple mouse click or phone tap. Our online system keeps your information safe, organized, and fully accessible to anyone with permission even as our team updates the daily financial activities.
Informed Business Decisions
One of the amazing benefits of outsourcing CFO and advising services to Financial Optics is making smart and informed business decisions backed by accurate accounting and experienced analysis. Most outsourced CFO or advising providers only crunch numbers and provide you with periodical reports, but here at Financial Optics our team is experienced and savvy enough to give you in-depth analysis based on your current results and your strategic initiatives for the future.
You’ll be able to decide which expenses to cut off and which mode of income is more reliable in the long run. A periodic financial report also gives you an insight into how you should run your business and manage the payment plan for new and old employees.
- Capital Budgeting & Resources Planning
- Financial Budgeting & Forecasting
- Cash Flow & Working Capital Management
- Accounting Health Check Services
- Accounting Policy & Procedures Preparation
- Risk management & Internal Controls Consulting
- Financial Planning and Strategic Implementation
- Short- and Long-Term Financial Forecasting
- Fundraising and Debt Financing Advice
- Systems Strategy and Design
- Analysis on expansion of Products, Services, or Geographies
- Cash Flow Optimization and Management
- Maximizing Margins
- Analysis for Sustainable Growth
- Merger and Acquisition Support
- Preparing for an Exit
- Optimizing Accounts Payables and Receivables.
- Understanding business requirements for banking and credit relationships.
- Strategic Cash Planning and Analysis.
- Short and Long-Term Cash Flow Planning.
- Provide actionable information for effective decision making.
- Identify unexpected financial issues.
A fractional or virtual CFO can work alongside your currently existing financial team if necessary. In this situation, a fractional CFO would typically work as a consultant or strategist alongside your in-house financial team.
However, if your business does not have an existing financial team in place, then Financial Optics can take care of your core accounting needs. And frankly, with accounting experts taking care of this you are in a better position to grow your business.
Most small to medium businesses cannot afford the extravagance of a full-time in-house CFO in the long run. But just like any fortune 500 business, your business still has the financial management need to succeed in the long run.
Outsourcing CFO and financial consulting functions to our team at Financial Optics gives you the opportunity of hiring financial experts that offer accounting and financial advising services at a cost that makes sense for your business. You’ll enjoy dedicated services from a team of experts that will handle the day-to-day financial operations of your business and offer professional knowledge and advising geared to the growth and development of your business.
Financial Optics has established its reputation in financial and business advising as well as accounting and bookkeeping. Our goal is to assist you in growing and expanding your business, which can only be done with the financial knowledge gained from years of experience. Thus, we offer virtual CFO and advising services to keep your finances up to date and under control, keep you abreast of your business’s financial position, and help you grow a financially healthy business. .