Virtual CFO / Outsourced Finance Function

What is a virtual CFO?

A virtual CFO provides part-time, senior finance leadership to businesses that need more than bookkeeping but aren't ready for a full-time CFO. It covers the strategic side of finance: reporting, cash management, budgeting, fundraising support, investor and board reporting, and oversight of compliance and the accounting team.

For growing businesses, it bridges the gap between having an accountant who records transactions and having someone who interprets the numbers and helps make decisions.

What a virtual CFO covers

Typical responsibilities:

Financial reporting

Monthly management accounts and KPIs, reviewed and explained.

Cash management

Cash forecasts, working capital, and banking relationships.

Budgets and forecasts

Annual budgets, rolling forecasts, and variance analysis.

Fundraising and banking

Financial models, investor materials, due diligence, and loan applications.

Board and investor reporting

Board packs and investor updates.

Compliance oversight

Making sure tax, ROC, and statutory filings are done on time by the team or providers.

Finance team and systems

Guiding the accounting team, processes, and tools.

Why it matters

Finance leadership matters long before a full-time CFO is affordable:

Decisions on real numbers

Founders get reliable monthly numbers and someone to interpret them.

Cash control

Forecasting and working capital management prevent cash surprises.

Fundraising

Investors expect finance leadership during diligence.

Cost-effective

Senior expertise without a full-time salary.

Compliance assurance

Someone senior checks filings aren't missed.

Scalable

Time can increase as the business grows.

Board confidence

Boards and investors get consistent, professional reporting.

Who is this for?

A virtual CFO works best alongside someone handling day-to-day bookkeeping, whether in-house or outsourced.

Virtual CFO vs. other options

How it compares:

What we'll need from you

Access to books

Access to accounting systems and records.

Your team

Introductions to the accounting team and service providers.

Business context

Strategy, plans, and priorities.

Existing reports

Current MIS, budgets, and board packs.

Banking details

Loan and banking arrangements.

Investor information

Cap table and investor reporting requirements.

Engagements are on a monthly retainer, scaled to the time needed.

How the engagement works

A typical start:

1. 1

   Diagnose

   We review the finance function, reporting, cash, and compliance.

2. 2

   Prioritise

   We agree the priorities for the first three months.

3. 3

   Set up reporting

   A monthly close and MIS pack are established.

4. 4

   Cash and budgets

   A cash forecast and budget are put in place.

5. 5

   Compliance calendar

   Filings are mapped and tracked.

6. 6

   Ongoing cadence

   Monthly reviews, board support, and ad-hoc advice continue.

As the business grows

The role evolves:

Scale time up

Increase involvement around fundraises or major projects.

Build the team

Help hire and develop the finance team.

Upgrade systems

Move to better tools as volumes grow.

Strengthen controls

Introduce controls needed for audits and investors.

Hand over to a full-time CFO

Support the transition when the time comes.

Keep reporting consistent

Maintain the reporting rhythm through changes.

Benefits and responsibilities