Virtual CFO Services in Dubai

Virtual-CFO

We offer highly experienced Outsourced CFO’s at
your disposal and only when you need it.You control
when the tap is turned on and when the tap is turned
off, keeping your fixed costs to a minimum.

VIRTUAL-CFO SERVICES DUBAI

We offer highly experienced Outsourced CFO’s at your disposal and only when you need it. You control when the tap is turned on and when the tap is turned off, keeping your fixed costs to a minimum.

This concept, frequently referred to as the Virtual CFO or vCFO, is relatively new to the region but is well-established and growing rapidly in other parts of the world.

The role of the Chief Financial Officer (CFO)

A CFO is typically responsible for managing the day-to-day activities related to the accounting, finance and tax aspects of a business. A good CFO is forward-looking, strategic, constantly forecasting future cash flows and financial performance so that resource requirements, including financing facilities, can be identified and addressed well in advance of their requirement.

Why almost all businesses need access a high level financial management

Businesses face an increasingly competitive, complex operating environment and much heavier demands can be placed on it by regulatory & compliance legislations. This, coupled with the increasingly technical nature of global accounting standards, mean that many businesses find they need access to high-level financial management but simply do not have the critical mass to justify hiring their own CFO, or to incur the fees of the ‘Big Four’ accounting firms to support them. Others find the short-term nature of the requirement makes hiring a vCFO impractical.

We offer flexible and professional financial management, tailored to the needs of your business at a price that your business can justify.

How the Virtual-CFO concept works

We provide you with highly experienced CFO’s on a part-time basis. You decide how much time you need the vCFO and over what time period. You only pay for the time he/she spends with you. You decide on the remit and the vCFO’s objectives and deliverables.

As part of your senior management team, the vCFO is a strategic partner as well your business advisor, agent for change and, in some instances, mentor. He/she will of course be hands-on, getting to grips with all aspects of the finance and administration of the business and other areas you may wish them to be involved in.

As an individual who has had an extensive and varied career, the Re/think vCFO will have experienced similar issues to those that your business is facing and will draw upon that specific experience as well as other areas of best practice to make an immediate impact.

The vCFO can carry your company’s business card if you wish and represent your company at important meetings with investors, banks, clients, suppliers etc. To the outside world your Re/think vCFO will appear as one of the team – no different from your full-time employees.

The financial case for a Re/think Virtual-CFO versus hiring a permanent CFO

You may have concluded that, in an ideal world, you would have your own permanent CFO but you also know that experienced professionals command large salaries. In addition to the annual salary there are the hidden costs such as end of service benefits, medical insurance, paid vacation, vacation flights, paid sick leave, school fees etc. You are also likely to be exposed to costly recruitment fees which is a sunk cost if your CFO leaves shortly after joining.

With a Re/think vCFO you know exactly how much you will pay and you switch on and off the costs as you wish.

Key Responsibilities of a CFO

Typically, the key responsibilities of a CFO are:

  • Leading all budgeting, reporting, accounting and financial forecasting activities
  • Ensuring financial control activities such as capturing individual profit center performance
  • Creating operational tools and systems to provide critical financial and operational information to management and the Board
  • Designing company-wide authority matrices, investment hurdles, assumptions, etc.
  • Reviewing and producing proposals, feasibility assessments and businesses cases for investments
  • Building solid relationships with key financial institutions in order to secure financing
  • Developing relevant policies, procedures, strategies and performance measures
  • Ensuring correct tax structures are in place
  • Ensuring stringent cash flow control and management
  • Developing cost awareness and an ethos of financial responsibility
  • Developing and mentoring Finance Department personnel