Virtual Finance Director service

Virtual finance director service

Are you a small business looking to scale to the next level? A virtual FD from Jameco Group can provide real-time financial information and valuable insights to drive better business decisions. Partner with us to develop a future-proof financial strategy that will take your business to new heights.

Welcome to Jameco Group, outsourced virtual finance director services

According to Glass Door, the average salary for a UK finance director in 2024 is £118,393. As a business owner, you may well be thinking, “How on earth can my growing business afford that?” Even hiring a part-time FD is normally way beyond the budget of a small business.

You’ll be pleased to hear that with a combination of cloud accounting software and our virtual part-time finance director services, you can forget the astronomical cost of a full-time FD. Our highly experienced accountants deliver a fully remote, director-level financial service at a fraction of the price.

Whatever your business stage or sector, we can design a flexible VFD package to match your evolving needs. Find out more about our services below or schedule a call with a member of our team.

What is a virtual finance director (VFD)?

A virtual FD is a highly qualified and experienced accountant who delivers executive-level finance services from a remote location. They are often part of a firm offering other accounting services. Virtual FD services offer a cost-effective solution to growing companies, allowing them to leverage financial expertise without the commitment of a full-time employee.

How can a virtual finance director help a business?

While they are skilled at managing your day-to-day finance function, accountants may not have the time or strategic insights you need to take your business to the next level. This is where virtual FDs come in.

VFDs go beyond compliance activities by analysing data, forecasting potential challenges and cash flow issues, and providing expert guidance to the management team. By optimising your business finances, your virtual FD can help you achieve your goals and take business performance to the next level.

Provide board-level support at a fraction of the cost

If you want to grow your profitability, a virtual financial director will prove indispensable. Sometimes a business needs a fresh set of eyes, and a new perspective can prompt ideas for more efficient management.

Providing executive-level support to company directors can improve the financial health of a business and streamline costs and operations across multiple departments.

Talking of streamlining costs, a virtual FD is highly cost-effective. The insights and strategic direction they offer can be of such great value to your business that you might say that they pay for themselves!

Grow your business through detailed reporting and informed decision-making

Growing SMEs that don’t yet have a finance director are missing out on detailed reporting and management information, which can make or break a small business. Detailed reporting, combined with a more robust business plan, allows for informed decision making which will lead to the long-term success of your business. 

Increase efficiency by modernising systems

Established businesses often recognise the need for modernisation but lack the expertise to execute change. Take the construction industry, for example; implementing new field service CRM software like Tradify or Simpro can streamline workflow management, improve data-driven decisions, ease communication and reduce operational costs in the long run.

A virtual FD can oversee the smooth transition to new systems while minimising risks, optimising costs, and avoiding common pitfalls.

Identify and capitalise on hidden growth opportunities 

If your company’s growth has started to slow down, but there is potential for further development, a virtual FD can assist in identifying and taking advantage of growth areas. They can help determine the available resources and the best way to invest to unlock those growth opportunities.

Our virtual finance director services

  • Strategic financial planning
  • Cashflow forecasting
  • Budgeting and forecasting
  • Financial reporting and analysis
  • Cost reduction and profit maximisation
  • Proactive tax planning and compliance
  • Fundraising and investment advice
  • Risk management
  • Implementing financial systems and processes
  • Board level reporting
  • Succession planning
  • Regular management meetings
  • Management accounts

Why choose Jameco Group as your virtual finance director?

Jameco Group is an experienced firm of accountants and business advisors based in Kent. Along with our trusted partners, we bring many years worth of experience across practice, industry and entrepreneurship.

Our breadth of services encompasses everything from cost reduction and profit maximisation to strategic financial planning and cash flow forecasting. We offer a tailored virtual finance director package designed to align precisely with your business’s unique needs.

If you’re interested in exploring how our services can benefit your business, we invite you to get in touch for an initial conversation about how Jameco Group can support your financial goals and strategy.

Frequently asked questions about VFD services

What types of businesses benefit the most from having a virtual finance director?

All types and sizes of businesses can benefit from the expertise of a VFD, including SMEs, startups, scaling businesses, businesses ongoing change, limited companies or family-owned businesses. The only unlikely contender is large corporations, and this is simply down to the fact they can afford to hire in-house talent!

What is the difference between a virtual finance director and a chief financial officer?

The roles of a virtual finance director (FD) and a chief financial officer (CFO) have distinct differences in what they do, although they can sometimes be combined into one position.

A virtual FD typically focuses on strategic financial planning, managing cash flow, budgeting, and providing financial insights to support decision-making. They often work with small to medium sized businesses that need expert financial guidance and cannot afford a full-time finance director.

Virtual FDs are often hired on a part-time, contractual, or as-needed basis. They provide services remotely and can work for multiple clients simultaneously. While virtual FDs do provide strategic advice and risk management, their focus is often more on the operational aspects of financial management, such as improving cash flow and profitability.

A CFO has a broader role in a company’s financial management. In addition to overseeing budgeting and financial planning, they are involved in higher-level strategic planning, investment decisions, risk management, and financial reporting to stakeholders and often play a key role in shaping the company’s overall strategy. CFOs are typically full-time, high-level executives in larger organisations.

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