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.

Have you identified a need for a CFO but are concerned about the additional cost of the right caliber of person, the short-term nature of the need or being able to retain that person after hiring?

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 and strategic and constantly forecasting future cash flows and financial performance so that resource requirements, including financing facilities, can be identified and addressed well in advance of when they required.

Why almost all businesses need access a high level financial management

Businesses face an increasingly competitive, complex operating environment and much heavier demands placed on it by regulatory & compliance legislation. 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 CFO impracticable.

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

SME Business Owners and CEOs

  • Do you find yourself distracted from revenue-earning and other business-critical activities by finance and administrative issues?
  • Do you or your investors see a need more professionalism in handling the financial aspects of your business?
  • Is your business ready to expand but you do not have the expertise in-house to prepare and present your case to potential investors?
  • Is your business experiencing exceptionally challenging times, necessitating assistance with evaluating strategic options and discussing financing options with existing or new partners?
  • Are the financial systems, processes and controls in your business insufficient to manage the growth your business is experiencing?
  • Do you need better, faster financial information for decision-making, investor reporting or meeting regulatory requirements?

Private Equity, Venture Capital, Banking or Corporate Executive

  • Is one of your portfolio companies, subsidiaries or borrowers underperforming, poorly controlled or unable to report to you as you require?
  • Does the CFO need support and mentoring to reach the level you expect?
  • Do you need support in evaluating a potential investment?
  • Do you need financial representation on the board of a portfolio company, subsidiary or borrower as a non-executive director?

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 too, 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 are 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.

Types of businesses that will benefit from a Re/think Virtual-CFO?

  • Start-Up and Growth Companies

Many early-stage businesses and SMEs come to a point in their growth where their initial accounting strategies, processes, and systems are no longer sufficient. It is at that moment that they require an experienced and knowledgeable CFO to help find a way forward.

  • Mature SME’s experiencing challenging circumstances

Mature SME’s may find that their own in-house finance team needs to be supplemented by an experienced CFO to deal with a specific set of challenging circumstances such as business underperformance or cash flow issues. As well as addressing issues of control and reporting, a Re/think vCFO can assist with strategic planning & option evaluation, business plan development, fund raising, financial rescheduling/ refinancing, business process re-engineering and remedial action plan development & implementation.

  • Businesses seeking to acquire another business or sell all or part of their business

Where the acquisition of a complementary business makes strategic sense or an owner wishes to sell all or part of a business, a vCFO can help make it happen by driving the strategic planning, identifying targets, developing synergistic business plans, assisting sale/ purchase negotiations, preparing financial evaluations, coordinating the sale & purchase agreement process, preparing for due diligence, raising funds and integrating an acquisition.

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 and mentoring Finance Department personnel

The risks of not having a CFO

  • The lack of CFO expertise and capability in a business can lead to:
  • Inefficient and weak processes
  • Wasted effort
  • Loss of investor and client confidence
  • Critical resources not being available when required
  • Missed business opportunities and misguided decisions
  • Loss of revenue
  • Exposure to unnecessary legal or tax risks