Applied advanced technology across the board to integrate and synchronise operations
The changing role of accounting and finance function demonstrated that the future of accounting is online using cloud technology, but many business owners reluctant to make that vital decision to virtual accounting. Our analysis and discussion with multiple stakeholders and multiple evidences shows that online bookkeeping, accounting and finance can enhance productivity, improve efficiency, reduce overheads and put in greater control in the hands of business owners, many professionals still working on a conservative approach and have some hesitation about it.
However, we have team members to provide virtual CFO services to individual clients and organisations. Team of experienced and qualified accountants offering high skill assistance in financial requirements of an organisation. The primary role of the team is to oversee the financial planning, maintain and report on the financial activities, and manage financial risk of the business. Additionally, we have launched a series of workshops to help demonstrate benefits of going virtual and methodology to address any challenges and resistance.
KEY SERVICES OR ACTIVITIES [Client perspective]
* Identify and manage bookkeeper and controller to produce reliable data.
* Identify key metrics and interpret the financial results on a regular basis, providing insight to help achieve the business goals and inform stakeholders.
* A skilled CFO brings in significant market knowledge and knows individual business sectors that can help meet the expected business targets.
* An experienced CFO can help reducing expenses, deploy cash efficiently, and find opportunities for greater production or expansion.
* Align and map out all primary reports to monitor regulatory compliance
* Develop and manage annual budgeting for effective cash management, support robust business strategy and financial planning
Additional Bookkeeping service as a package. Optimised workflow, Transaction entry & classification, Accounts receivable, Accounts payable, Payroll, Bank account reconciliation, support for year-end tax and audit, Financial control implementation and oversight.
The Virtual CFO service should be able to give you a 3 to 4 month road map of everything that will occur in this time period. This road map is a crucial first piece in the engagement with the service provider.
Plan around managing sales and receivables including ageing and debtor analysis, managing supplier payments including expense processing & analysis, controls on bank & ledger Reconciliations, Milestones for Management Accounting & Internal Reporting, Preparation of financial statements and workbooks, Payroll services and design/develop Financial planning, forecasting and budgeting.
Virtual CFO can add significant values around: setting up business targets and goal, designing customised report, assess appropriate technology improvements (recommendations), propose enhancement to existing financial processes and controls.
Check our latest publication on Virtual CFO agenda includes what's on offer, range of deliverable, flexibility in working condition and robust governance structure with multiple pricing options.
Reap the benefits of advanced technology. Forward view uses Real time simulation of KPI that helps limit business risk. VCFO Value Graph in the video demonstrate multi dimension positive impacts by adopting advanced analytical technology. Stay ahead in the race through market insight and opportunities. From Ace Allizon solutions.
Factors to consider and benefits to evaluate before making business decisions on selecting relevant accounting and finance model or framework.