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The evolution of the vCFO role

Digitisation and financial analytics in a fast-paced world are transforming the traditional CFO role. The owners of SMEs now have real time access to financial information in a way that was previously only available to larger firms. They are looking for professional advice on how to use this information to plan for growth and value within their business. Accountants in public practice are ideally suited to provide this service through technology and a strong focus on communication.

What is a vCFO?

A virtual CFO is a person or an accounting firm that takes on the role of CFO for a client on a contract basis. Thanks to cloud accounting systems, they can work largely remotely to monitor finances and advise on key business decisions. Their investment in the development of digital solutions and data analytics is affordable because it can be spread across many clients.

Virtual CFOs are well placed to help business owners focus on essential, long-term strategic and financial planning. They base their planning and forecasting activities around the business drivers and report performance against these drivers. Some of the key roles of virtual CFO may include:

1. Develop financial reporting systems
2. Provide forecasting and planning tools
3. Conduct ongoing cost analysis
4. Provide advice on business performance
5. Evaluate growth opportunities
6. Restructuring, M&A and succession planning
7. Ongoing review of risk exposure

What’s the course all about?

This eLearning course is designed to provide a guide to establishing a vCFO service for accountants and advisors in public practice. Over 8 modules, we’ll discuss the key steps to identify the services you can provide, position these services effectively, get clients across the line and deliver services in a way that adds ongoing value. We’ll review some of the key challenges that firms face in delivering vCFO services including price sensitivity, scope creep and reducing value.

How does it work?

The vCFO course consists of 8 modules with clear learning objectives. Content includes presentations, workbooks, support materials and assessment tasks. Most importantly, learners develop their own professional development pathway using our SMART action planning template

Who’s it for?

This course is suitable for managers and partners in public practice who want to develop a vCFO service platform or refine their existing approach to providing vCFO services to business clients.


Click here for more information and enrolment details