ready to be a virtual cfo?

solid technology is just one key.

by jody grunden

you may have heard about virtual cfo services. it’s a concept that’s been around for a while now that allows cpas and accounting firms to offer cfo services to smaller businesses that may not yet be able to afford a full-time cfo.

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what is a virtual cfo?

virtual cfo (or vcfo for short) stands for virtual chief financial officer. a vcfo provides outsourced accounting services at a high level for businesses.

similar to a traditional cfo, a vcfo oversees the finances and assists with strategy around business decisions that affect the financial health of the company. a virtual cfo may be a single person or a team.

technology is imperative to being a successful vcfo. being remote requires you to have a solid infrastructure for communication with your internal team as well as your clients. videoconferencing tools such as gotomeeting and sococo are a must. you may also want an instant messaging solution, such as slack, which allows you to communicate in real time.

as a vcfo you’ll change the way you work. you will do more than taxes. think of yourself as a consultant; someone who forecasts and strategizes with clients. you’ll manage bank relationships, lead weekly meetings, forecast, set companywide kpis and much more.

the best way to start your journey to becoming a virtual cfo, is to learn from a seasoned virtual cfo firm. the onboarding process should take you through sessions where you will learn how to provide virtual cfo services, how to price the services, expected workflow and communications, processes that work, and the best tools. it’s also important to identify potential clients within your existing client base, and contact those leads to introduce the services.

are you ready to become a vcfo?

posted on july 1, 2019

7 responses to “ready to be a virtual cfo?”

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july 8, 2019
yes, stay tuned for more from jody grunden. thanks!
gene smith
july 8, 2019
do you offer insight as to how to market this?
- jody
  july 8, 2019
  hey gene…
  
  we strongly believe that thought leadership is the key to marketing this service. the key to thought leadership is focusing on a specific niche as apposed to be a generalist. once we made that move, new clients and prospects grew substantially.
jerry trask
july 3, 2019
want to know more.
- jody
  july 8, 2019
  hey jerry…
  
  thanks for reaching out. as i had mentioned to bharti, my partner, adam hale, handles the cpa augmentation program. he would be a good resource for your questions. here is a link to his calendar for a quick video chat: https://calendly.com/adamhale/25min . pick a time that works for you. if you prefer to communicate through email, his email address is ahale@summitcpa.net
  
  thanks again… jody
bharti sudan
july 2, 2019
want to know what you can offer

thanks
- jody
  july 8, 2019
  hey bharti…
  
  thanks for reaching out. my partner, adam hale, handles the cpa augmentation program. he would be a good resource for your questions. here is a link to his calendar for a quick video chat: https://calendly.com/adamhale/25min . pick a time that works for you. if you prefer to communicate through email, his email address is ahale@summitcpa.net
  
  thanks again… jody

jody grunden

about the author

jody grunden is ceo & co-founder of summit cpa group—perhaps the first virtual cfo firm and the largest distributed-model accounting firm in the nation.

he is the author of building the virtual cfo firm in the cloud.

building the virtual cfo firm in the cloud, is available exclusively from 卡塔尔世界杯常规比赛时间 here.

he started summit cpa group in 2002, bringing more than 23 years of public and corporate accounting leadership, tax expertise, and executive management experience to his role with the company. grunden is a member of the forbes finance council, american institute of public accountants (aicpa), and the indiana cpa society.

click here for more by jody grunden

direction and strategy grunden oversees the corporate direction and strategy of summit cpa group, focusing on leadership, innovation, and marketing. jody takes great pride in helping business owners strive in all economic conditions. he says, "a well-run company will excel in both a good and bad economy.” since starting the summit cpa group, grunden has worked with clients and partners to share summit cpa group’s strategy and mission. unlike many others in the business of accounting who focus on historic financial statements and tax returns, summit cpa group operates under the profit-focused model, using dynamic forecasting models and key performance indicators with their clients to help them transcend simply “being in the black” and to focus on longer-term financial health and wealth.

career history before joining summit cpa group grunden served as a tax professional at the regional accounting firms crowe, formerly crowe chizek and company, and bkd formerly geo s. olive, where his focus was on small business taxation. jody then worked as the tax manager rea magnet wire company, inc-- a $250 million international, multi-state, manufacturing company --where he stood before the taxation and revenue department of the state of new mexico and won an appeal for a $300,000 investment credit that was earlier denied by the department. the appeal was a published decision.

mission summit cpa group’s mission is to change the way people think about accounting. to achieve this, jody regularly speaks and leads discussions with groups of creative service professionals including web development, design, marketing firms, and branding agencies. jody helps his clients apply key metrics to their business. there are thousands of financial metrics that are important to the health of a business. many times as an owner it can be overwhelming. jody identifies the top four metrics—money in the bank, production, net income, and pipeline—and shows his customers how to use them in guiding their business. when he’s not meeting with clients or team members, he’s a nice guy who likes hockey, golf, and his family. jody graduated from indiana university and is writing his latest book. if you’d like to learn more about jody, hear him speak, or understand how summit cpa can change the way you think about accounting, contact jody today:

follow jody grunden on twitter: @jgrunden
follow jody grunden on linkedin: @jgrunden
follow summit cpa group on instagram: @summitcpa_group
follow summit cpa group on facebook: @ summitcpa_group

to join summit's cfo community for accounting firms click here.

click here for more by jody grunden

7 responses to “ready to be a virtual cfo?”

卡塔尔世界杯常规比赛时间 research

gene smith

jody

jerry trask

jody

bharti sudan

jody