{"id":4305,"date":"2020-03-07T16:17:15","date_gmt":"2020-03-07T16:17:15","guid":{"rendered":"https:\/\/www.theproche.com\/?p=4305"},"modified":"2021-09-01T10:00:35","modified_gmt":"2021-09-01T09:00:35","slug":"5-factors-that-matter-when-determining-virtual-cfo-pricing","status":"publish","type":"post","link":"https:\/\/www.theproche.com\/5-factors-that-matter-when-determining-virtual-cfo-pricing\/","title":{"rendered":"5 Factors That Matter When Determining Virtual CFO Pricing"},"content":{"rendered":"\n<p>Every business needs a CFO but one who has the right parameters\nand at the right time. If you hire a CFO, you might be required to pay an\nannual salary of $150,000 to $250,000 minimum. In simple words, hiring a\nfull-time CFO comes with a hefty price tag. <\/p>\n\n\n\n<p>On the other hand, a virtual CFO might help you control costs by getting services only when you need them. However, there is no standard pricing structure for virtual services. Here we look at five factors that matter when determining <a href=\"https:\/\/hovlandforensic.com\/virtual-cfo-pricing\"><strong>virtual CFO pricing<\/strong><\/a>. <\/p>\n\n\n\n<p><strong>Complexity of Financials <\/strong><\/p>\n\n\n\n<p>The type of industry, growth, and size of your company play an\nessential role in determining the price of outsourced CFO services. The more\nsignificant your business and the faster your growth, the more complex your\ncorporate financials become. <\/p>\n\n\n\n<p>The CFO has to manage more complicated cash flow and deal with the greater interplay of the system. Also, a larger company means the CFO needs to consider more factors during budgeting and forecasting. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>System Design and Implementation<\/strong><\/h2>\n\n\n\n<p>Many times, the current operational and financial systems are\ninadequate to manage the current level of business growth. In such a scenario,\nthe Virtual CFO might be required to put in new systems in place to <a href=\"https:\/\/www.entrepreneur.com\/article\/306049\">support\nyour business growth<\/a>. <\/p>\n\n\n\n<p>Such activities are generally hands-on where the team from\noutsourced CFO company plan onsite visits to train staff member and also\noverlook ERP and other systems implemental. <\/p>\n\n\n\n<p>The intensiveness of the whole process and the higher level of management needed to complete such work successfully causes the prices to rise to a more upper limit. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Diversity of the Services <\/strong><\/h2>\n\n\n\n<p>Virtual CFO offers a wide range of services. Some businesses\nmight need a few while some may need more. Hiring a virtual CFO is all about\nflexibility where you have the freedom to choose the services you need and pay\nfor it, which helps control costs. <\/p>\n\n\n\n<p>Some of the services that are part of the virtual CFO pricing are maintaining accounting records in accordance with GAAP, financial and operational results analysis, risk and opportunity assessment, improve profitability, budgets, financial and cash flow projections, growth plans, acquisitions, and many more. These financial services are offered as bouquets (where they have lower prices) or individual services, which are marginally expensive. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Supporting Members <\/strong><\/h2>\n\n\n\n<p>Depending on the complexity of the accounts, the Virtual CFO\nmay need extra support to implement the financial strategy. For example, the\nCFO services help to plan and deliver monthly financial packages. <\/p>\n\n\n\n<p>In such cases, it would be inefficient to use CFO services for basic reporting and book-keeping. You can get expert book-keepers and on-staffers to provide these services, which might be included in the CFO services package. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Growth Stage of Your Company <\/strong><\/h2>\n\n\n\n<p>Most CFO services offer transactional value tier to businesses.\nThe transactional value tier depends on the growth stage of your company. These\nCFO services charge a flat fee based on the annual revenue of the company. e<\/p>\n\n\n\n<p>The higher the annual revenue of the company, the higher the\nCFO fee charged. The contract mentions the agreed prices and a clear\ndescription of the services that will be rendered. <\/p>\n\n\n\n<p>These are the five factors that matter when determining virtual\nCFO pricing. With Virtual CFO on your team, your company will have an improved\nfinancial and accounting system and also have viable wealth strategies without\na hefty price tag.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Every business needs a CFO but one who has the right parameters and at the right time. If you hire a CFO, you might be required to pay an annual salary of $150,000 to $250,000 minimum. In simple words, hiring a full-time CFO comes with a hefty price tag. On the other hand, a virtual [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[114],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 Factors That Matter When Determining Virtual CFO Pricing - Proche<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theproche.com\/5-factors-that-matter-when-determining-virtual-cfo-pricing\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Factors That Matter When Determining Virtual CFO Pricing - Proche\" \/>\n<meta property=\"og:description\" content=\"Every business needs a CFO but one who has the right parameters and at the right time. If you hire a CFO, you might be required to pay an annual salary of $150,000 to $250,000 minimum. In simple words, hiring a full-time CFO comes with a hefty price tag. On the other hand, a virtual [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.theproche.com\/5-factors-that-matter-when-determining-virtual-cfo-pricing\/\" \/>\n<meta property=\"og:site_name\" content=\"Proche\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Procheindia\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-07T16:17:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-01T09:00:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.theproche.com\/wp-content\/uploads\/2019\/04\/business-tools.png\" \/>\n\t<meta property=\"og:image:width\" content=\"609\" \/>\n\t<meta property=\"og:image:height\" content=\"407\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Cathy Carter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@the_proche\" \/>\n<meta name=\"twitter:site\" content=\"@the_proche\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cathy Carter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.theproche.com\/5-factors-that-matter-when-determining-virtual-cfo-pricing\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.theproche.com\/5-factors-that-matter-when-determining-virtual-cfo-pricing\/\"},\"author\":{\"name\":\"Cathy Carter\",\"@id\":\"https:\/\/www.theproche.com\/#\/schema\/person\/80639a1baa65f62f95a95a3591efcd40\"},\"headline\":\"5 Factors That Matter When Determining Virtual CFO Pricing\",\"datePublished\":\"2020-03-07T16:17:15+00:00\",\"dateModified\":\"2021-09-01T09:00:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.theproche.com\/5-factors-that-matter-when-determining-virtual-cfo-pricing\/\"},\"wordCount\":567,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.theproche.com\/#organization\"},\"articleSection\":[\"Business\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.theproche.com\/5-factors-that-matter-when-determining-virtual-cfo-pricing\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theproche.com\/5-factors-that-matter-when-determining-virtual-cfo-pricing\/\",\"url\":\"https:\/\/www.theproche.com\/5-factors-that-matter-when-determining-virtual-cfo-pricing\/\",\"name\":\"5 Factors That Matter When Determining Virtual CFO Pricing - 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