The Virtual Finance Director will be practical and effective and may be engaged on a full time or part time basis.

It is common place in the SME sector to engage a Virtual Part Time Director for an agreed number of days each month.  This approach may be governed by insufficient funds to support a full time FD or simply the work load may warrant only a part time appointee.

It would be expected that the Virtual Part Time Finance Director is not only involved in assisting the business owner in the management of the business in areas of business growth, business change and business turnaround, but would also take responsibility for the routine accounting and reporting requirements.

10 important aspects of this work are:
- Preparation of and reporting on monthly management accounts
- Preparation of year end accounts
- Setting and implementing strategy
- Systems review and audit
- Business planning, financial forecasting, budgets including cash flow
- Liaising with stakeholders, banks, auditors
- Ensuring adherence to corporate governance requirements
- Exercising control of costs
- Attending board meetings
- Ad hoc project work

Learn more on the benefits of engaging a Virtual Part Time Finance Director.

In many small medium sized (SME) businesses the missing skills in the management team includes that of a financial expert.  As businesses grow the skills of a virtual finance director become increasingly missed.  Without a reasonable understanding of the financial impact business decisions may have, the business owner may jeopardize the future of the organization.

In addition to the concerns a failing business may have on the management team, the cost of recovering the business is always greater than had actions been proactively taken in appointing a virtual part time finance director.

"It is not necessary to change.  Survival is not mandatory."
W Edwards Deeming