CFO Role


CFO Role

The Increasing Importance of the CFO Role

The role of a Chief Financial Officer (CFO) is going through a major development. In today’s business environment, finance organizations have become even more important as companies increasingly rely on the financial and tactical art of their financial leaders. Today, finance professionals are experiencing a series of new-risks, duties, and challenges, from managing worldwide-diversified pressures to mitigating new technology risks. Their function of finance became universal through the organization, and its influence only appears to be growing. As Chief Financial Officers look to handle the new risks and problems, which have evolved with their role, most are leveraging new technologies to help them prosper in this modern environment.

A New Future for the CFO

With the tools accessible, the finance executives are able to drive business performance with real time access to organizational and market information. They can better evaluate and manage risk with elevated presence with just one, integrated view in their organization, and manage their company’s growth with greater agility and efficacy. In this new period, companies are empowering finance leaders to change their organizations by improving the speed of conducting business, driving success now and into the future. A brand new generation of employees is forcing organizations to rethink how work is performed, the increase of important data is providing company leaders with access to more details than in the past, and globalization has opened up new possibilities as well as new threats for businesses.

Why your Company Needs a CFO

As business has changed, so has the role of finance. Over the last half century, finance leaders have gone from bean counters to the boardroom, the duties of finance leaders have evolved to include everything from strategic management to businesses to IT risk management. The job of the CFO now permeates all regions of business as its influence grows. Over the next couple of years companies will see emerging trends in finance, which will assist and empower finance professionals to drive efficiency, better evaluate and manage risk, and have more of a corporate approach and growth for their business. From bean counter to the boardroom, the job of Chief Financial Officers has gone through some main changes since its inception.

Affordable CFO Services

Today, the role of the CFO became even more significant, as companies increasingly depend on the economic and strategic skills of their most senior financial leader. Their influence may be felt through the organization, there’s no longer a singular description of the CFO role. Visit our CFO services for more information and let us help with your company growth.


Hire a Virtual Bookkeeper

Hiring a Virtual Bookkeeper

Bookkeeping is an essential part of any company as it’s needed by law for tax purposes, but it also allows companies to have well kept financial records. Since bookkeeping can be very tedious and time intensive, let alone dull and sometimes even frustrating, many company owners choose to employ the services of bookkeepers. Bookkeepers may do full time work in a business, yet this is often not required because their services and assistance are not required on a regular basis.  

Save on Bookkeeping Services

For that reason, it became a viable alternative for companies to employ freelance or virtual bookkeepers. A freelance bookkeeper usually charges an hourly rate bearing in mind the workload they’re effective at doing in a span of an hour. Due to this, company owners are able to cut down prices because they’re only required to purchase the acceptable period of time the services are rendered for. If an onsite bookkeeper were hired on a full-time basis, company owners would have to pay a stated salary rate regardless of how much work was needed from the bookkeeper in any given month.

Also, hiring a virtual bookkeeper as opposed to full a time one may reduce the overhead costs of the company because the bookkeeper will not be kept on the company’s payroll. Because of this, companies can avoid added costs relating to paid vacations, sick leaves, insurance, 401k, etc. Companies are able to save even more as virtual bookkeepers frequently work at home meaning that the hiring company does not have to spend on additional office space, equipment, resources, and materials.

No Need for Training

Hiring a freelance bookkeeper implies that training will not be required. Aside from the expenses involved with teaching full time staff, several companies try to avoid training their very own bookkeepers due to the possibility that they’ll move on to work for other organizations providing advantages to other companies. A freelance accountant has already been trained in the field and will only require some time to know the requirements of the company.

Finally, an organization should be cautious in choosing a bookkeeper. Company owners want to be sure that their financial records really are kept and managed by a fully trained and experienced person. For many numerous reasons, companies may take advantage of hiring a virtual bookkeeper since they are able to reduce expenses, free up time for company owners along with other staff to concentrate on other important business process, and ensure that finances are documented and maintained in a professional manner.  

Let Us Help You!

If you are in a need of a virtual bookkeeper please review our services and prices. You will note that we use Xero Accounting. It is the easiest accounting system to use. You will have access to your account via your Mac, PC, phone or tablet. Your valuable information is secure even if your computer is stolen or lost. Please contact us so we can provide the best available service to you and your business.

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