A Virtual CFO: the secret weapon of a successful entrepreneur!
At Intigro we know that successful entrepreneurs have great passion and ability for what they and their companies are doing. However, we’ve also discovered that this passion does not typically cross over to the business side of their company.
Good news! That is Intigro’s passion and expertise!
So, why not bring in just the right amount of business expertise you need? When you need it.
Just imagine, Intigro’s business “know how” and CFO leadership, coupled with your passion and expertise. What a super successful combination it could make! We can do this as your Virtual CFO (VCFO),
Providing you (any or all of) the following:
- Financial Expertise by focusing on ways to increase profits, improve cash flow, internally capitalize growth, projecting the most profitable and realistic future growth scenarios, developing key metrics, etc. We analyze the intricacies of complex data, explain it in plain English, and translate it into real actions.
- Financial Oversight by providing direction to your accounting team in the technical preparation of financial information that is relevant to the company’s leadership, guidance for non-typical transactions, tools and techniques to make the company’s financial practices more precise or efficient.
- Collaboration on Strategy by guiding you (and your team) to aim at your company’s Next Level, developing just the right actions for your most pressing issues, helping you think through the next 3 or 4 moves your company needs to make, and / or discerning that next growth strategy. Our virtual CFO frame of reference strengthens and supports all our strategy contributions.
- Financial Advocacy by using our financial acumen we can help increase financial commitments for growth from your bankers or investors. Furthermore, we can communicate technical financial ideas with tax attorneys / accountants to minimize tax exposure or even interface strategically with attorneys to strengthen the corporate structure.
- Financial Understanding by equipping you with a mastery of the key accounts and measures within your financials (and even creating custom metrics, if needed) to better manage and grow the profitability of your company.
- Entrepreneur mentorship by using our Business Caddy process we can come alongside you with innovative wisdom for those issues you need answers, especially in regards to the business side of your business including people, operations, financial, and strategic. In other words, caddying you in that next “business” shot you need to hit.
- Fresh Perspective by utilizing our outside perspective and wide range of experience across a variety of industries we may recognize issues and concerns that have internally gone unnoticed the company. We can tap our experience for “out of the box” virtual CFO solutions and strategies that a full time CFO may simply not have ever experienced.
Investing in a Virtual CFO vs. a Full-Time CFO
Based on Robert Half’s salary survey, companies under $50m in revenue could easily pay a full-time CFO over $200k a year in salary and benefits. Bonuses, office costs, and support staff would be on top of that amount.
Intigro’s expertise extends to companies to the range of $500m where CFO’s can cost a company $400k – $500k per year in salary and benefits, not including bonuses and other costs.
So, visualize the benefit of receiving the financial and strategic expertise of a high level CFO combined with your zeal and success in your industry for a fraction of the cost of a full-time CFO.
A Virtual CFO as an Investment
At Intigro, we consider our virtual CFO services an investment, not an expense. Our goal is that we integrate unique approaches and thinking into your company that you may not have used, had we never met. Best of all, the results of using those unique approaches would be growth and profitability that would continue, even after we are gone.
Typically, we base our fee on the scope of the project split into monthly amounts, so it’s easy for the company to budget. These amounts never come close to the total cost of a full-time CFO.
Intigro’s Virtual CFO History
Virtual CFOing is not new to us. We started doing it in the late 90’s with companies via email and phone. Since, the internet was not what it is today, we also had to make occasional onsite visits.
One of our earliest and more challenging virtual CFO engagements was a rice production plant in Port au Prince, Haiti. Scroll down and see Kreyol Rice on our Experience page.
At the time, a U.S. AID worker told us that no one was able to accomplish what we were doing virtually in Haiti. Needless to say, VCFOing has become much easier with the vast improvements in technology and the internet.
If you are interested in finding out more or you are ready to start, we’d ask you to complete our virtual CFO form and we will schedule a short call to learn more about you and your needs to provide an initial quote to begin.