04/05/2020 by MNV Associates
Why to Hire a Virtual CFO in Dubai?
A virtual CFO provides high-level financial strategy services for businesses in the UAE. A virtual CFO is often a better hire for small- or mid-sized companies since they can benefit from the high-level financial strategy of a CFO without the expensive in-house costs.
Why Do Companies Outsource Virtual CFO services in Dubai?
A virtual CFO services Dubai can help a company owner to plan forecasting, systems optimization and reporting, maximizing profits and shareholder growth. A virtual CFO is often a part-time CFO providing financial services. A virtual CFO Dubai is usually a far better hire for small- or mid-sized firms since they will enjoy the top-level financial strategy of a CFO without the expenses of hiring one on a full-time basis.
What Does a Virtual CFO Do?
Unlike an accountant or bookkeeper whose primary job is debits & credits, a virtual CFO has a visionary financial approach. A virtual CFO helps take your existing capital and revenue and use it to accelerate your growth, maximize value, and drive business forward.
Here are some of the major services offered by a virtual CFO:
• Financial Forecasting: Should you hire a new employee or increase your sales team? Or expand into a new location? These decisions are important to businesses all the time. A virtual CFO will create a financial forecast, both short and long term, so you can focus on your business operations.
• Educational: A virtual CFO trains your employees to support your company’s financial strategy and long-term goals. A service of virtual CFO will assist you to recruit a permanent CFO when you can afford one, either by training an existing employee in the company for the role.
• Systematic: Timely data can make all the difference when making important decisions. A complicated internal software or systems sometimes may lead to errors and prevent you from understanding the information you need. A virtual CFO can analyze your needs and suggest an alternative system that will help rather than hinder your financial progress.
• Profitable: Quite often, small or medium size business owners lose money without knowing where the “leaks” are coming from. A virtual CFO can review your cash flow, current contracts, strategies, payroll, to uncover practices that may be potentially losing money and thereby increase your profits.
• Sustainable: if you grow your firm too slow and you may suffer due to the competition. If you grow too fast, you won’t have enough finances to support the business to make it last. A virtual CFO can help you navigate your business sustainability.
• Raising Capital: Often, raising capital is necessary to take your firm to the next level. A virtual CFO can help determine the amount required and in what debt-equity combination, which may help you negotiate terms, and create a game plan for the best way to use the money.
Whether you’re looking for ways to cut your operating expenses or want to grow your business, you don’t have to hire a full time CFO for the expertise. We help in hiring a virtual CFO in Dubai which gives you access to the financial intelligence and strategy of a full-time CFO.