What is a Virtual CFO?
The virtual CFO (chief financial officer) is a remote-based CFO—a real person—who provides high-level CFO services to give your company, no matter the size, all of the expertise, direction, and concentration that a CFO can provide. We just do it remotely as a consultation service.
An online CFO should be seen as an investment. Hiring someone with the experience of a big-business C-level executive without the cost of hiring a full time employee is where we come in.
We are more than just accountants or a controller. This is high-level strategy, the type of work that you should expect from an experienced financial executive.
We provide analysis for helping your team with cash flow modeling and break-even analysis.
Because of this strategic nature of the service we schedule up to six virtual meetings per month, dealing with cash flow, financial review, pipeline and practice development, banking relationships, and long-term goals.
Your goals are our goals: we want to maximize shareholder value, accelerate growth, and achieve profit goals.
Our in-house certified forensic accountant is briefed regularly on all clients and offers assistance with advanced internal control planning at no additional charge.
Meet Steven D. Hovland, CPA, CRFAC
Founder of Hovland Forensic & Financial
Benefits of Virtual CFO Services
Our virtual CFO services will help you:
Understand your financial statements.
Provide you with cash flow analysis.
Build a strategic financial plan.
Minimize your business risks.
Control costs, profits, and hiring.
Maximize wealth for you company.
Manage cash flows in both good and slow economic times.
Meet your short term and long term goals.
Have qualified member of your C-suite team.
Month End Close
We ensure your accounting records include all the correct accruals and adjustment to give you an accurate picture of your operations. We verify there is supporting information for all major accounts. Accurate financial information is key to be able to make correct management decisions on your company’s future.
Core Financial Statements
We provide you with balance sheet, income statement and cash flow statements in accordance with generally accepted accounting principles (GAAP). These will be statements that you can give to your banker and all shareholders.
We host scheduled virtual meetings to discuss the various aspects of your financials. Virtual meetings allow for face-to-face connection and are extremely productive for our clients.
Company Wide KPI
We will provide the most critical company-wide Key Performance Indicators to help you reach your goals.
Knowing your break-even point is crucial to the survival of your business. We not only calculate the break-even for you, we keep you and your sales department aware of the sales needed to keep the bills paid.
Free Cash Flow
Free cash flow is the amount of cash a business can utilize after all the costs have been paid. We design the Free Cash Flow to correspond with your forecast so you can not only see what you have, but what you are projected to make.
Why Choose Hovland Forensic and Financial?
When you work with Hovland Forensic & Financial as your CFO provider, you'll always work with the highest level accountants. Our CPAs are ready to help take your business to the next level.
Performance By Project
What is your cash efficiency by project? We help you understand the concept of cash efficiency which allows you to shift resources on the projects that truly contribute to the health of your company.
Team Member Performance
Service-based companies have employees who charge for their time. We develop key metrics for each employee level. This allows management to understand billing impact on personnel decisions and identity the revenue producers for each company.
Customized Department Reports
Not all information relevant to the health of our company is in the financial statements. Items such as customer satisfaction can have a tremendous impact on revenue and never appear in your general ledger. We develop metric reports to create additional resources that help managers understand the non-financial metrics affecting the bottom line.
Debt Planning & Reduction
We develop the necessary external funds needed models to help explain the benefits or risks encountered with expansion. If reduction is the focus, we help guide through the process on getting out from excessive debt.
We develop and nurture your company's relationship with financial institutions. Additionally, we will coordinate Line of Credit reviews plus get bids from other banks. We focus on getting you the best rate and terms possible.
In addition to the forecasting, we ensure the resources of each company are utilized to their fullest. Whether it is clearing a bottleneck or removing equipment that is not producing, we focus on all resources to get the best ROI.