Virtual CFO Services

Key Takeaways


Financial Strategy


Cash Flow Management


Cost Cutting & Budgeting across all Functions


Investment & Growth Plan


Financial Analytics


CXO Analytics Dashboard Financial


Risk Assessment Metrics & Mitigation Plan

Must Read

Objective of the service module

The concept of ‘Virtual CFO’ (Virtual Chief Financial Officer) uprooted the outdated assumption that the position of a CFO is meant only for big companies and that there is no need for such levels of financial expertise for small businesses. For many small and medium-sized businesses, having the access to the skill and expertise of a Virtual CFO gives them a powerful wing to better address the financial aspects of their business.

In this service module, DFX shall provide Virtual CFO services to its esteemed clients.

What is a Virtual CFO? What does a virtual CFO do? Benefits of having a “Virtual CFO” for your company:

This was a long-held belief that the position of a CFO (Chief Financial Officer) is meant only for big companies and that there is no need for such levels of financial expertise for small businesses. The concept of ‘Virtual CFO’ uprooted this outdated assumption. Now even small and medium-sized businesses can have access to many high-end expert financial advisory and consulting services in the form of a Virtual CFO. It may or may not be called as Virtual CFO for small business or big business but the essence of its services remains the same.

The title makes it abundantly clear that a Virtual CFO delivers the services which otherwise are performed by a regular, employed CFO. A Virtual CFO may not be a perfect substitute for an in-person, full-time CFO for all businesses and situations. But for many small and medium-sized businesses, having the access to the skill and expertise of a Virtual CFO gives them a powerful wing to better address the financial aspects of their business. More importantly, it gives them someone (say ‘my Virtual CFO’) who could critically assess and advise them professionally as an in-house CFO would do.

Most MSMEs often ignore the go into the depths of financial exercises which are normal for big companies because they want to manage their finances professionally and strategically. Many entrepreneurs and businessmen might be doing a few things right here and there in handling the financial part of their business. But that would strictly not be a professional approach. A CFO or a Virtual CFO has a defined scope of work, a systematic approach, and a particular line of sight and thinking. These qualities come from professional training, rich experience and gained expertise and a passion for managing finance.

A commonly asked question is – What are virtual CFO services? There need not be a strict answer to this question because the biggest flexibility with having a Virtual CFO is that businessmen can hire their services for specific duties and get these done with thorough expertise and professionalism. All these factors explain the rise of many professional Virtual CFO management consultancy firms.

Virtual CFO Services Offered and its benefits

  1. Financial MIS & Analysis
    In the course of business operations, a large number of financial transactions take place every day. These transactions occur in the form of purchasing by customers, payment of salaries, payment to suppliers, payment of service bills, receipt of interest, etc. To record all these transactions from various sources/devices, an IT-enabled information-gathering system is created. DFX’s Virtual CFO services shall cover identifying the specifications of the required financial management information system (Financial MIS) as per clients’ business requirements.
    The financial data collected by an FMIS is not only meant for record-keeping and sharing with other process owners but also to be used to derive meaningful insights and inputs for better financial planning and management. Our Virtual CFO services include keeping a tab on these business numbers and provide expert financial analysis and assessments to its clients regarding the financial health of their business and future projections.
  2. Business Performance Improvement
    A month of good sales turnover or overachieving annual profitability targets need not necessarily indicate that the coming months or years will be on similar trajectories. Our Virtual CFO services go beyond that and will ask ‘why’ for any level of performance. It will assess the reasons for good performance as much as it will question for poor performance. It will reassess the business goals, the methods and approaches adopted, and the critical success factors to come up with solutions for improvising business performance going into the future.
  3. Business Process Improvement
    While planning and strategies are formulated by the top-level management, the actual business operations carried out by the employees at the grass-root levels decide the fate of those plans and strategies. Our Virtual CFO services will be also interested in the quality of business operations because the latter carries a bearing on the financial performance of a business enterprise. It will bring to focus the efficiency and effectiveness of the business processes. If the processes are broken or not planned and well-defined, the operational procedures carried out will also be faulty. These features make our Virtual CFO services a key partner or stakeholder in achieving business process improvement.
  4. Expansion Support
    Growth and expansion are the new basic tenets for survival in business. And whenever a market opportunity is identified and a corresponding business expansion idea is being contemplated upon, it becomes imperative to back it up with financial planning. DFX’s Virtual CFO services are designed to plan for business growth and expansion projects. Our Virtual CFO services would assess the commercial viability of a business expansion project with a robust business plan that is also intended to serve as a roadmap for financial conduct.
  5. Business Agreements
    A business enterprise has to work with many other facilitating businesses to keep its value chain in action. From procuring raw materials/inventory and delivery and distribution to end customers to office management and working with various agencies, a business enterprise has to enter into a working arrangement with these parties. Each one of them has a defined scope of work, payment terms, governing policies and procedures, etc. And it is necessary to make these working arrangements bound by contracts and agreements. Our Virtual CFO services cover the vetting and drafting of these business contracts and agreements related to vendors, service providers, etc.

Why DFX as Virtual CFO?

With a decade plus years of experience in delivering expert consulting services in business financial planning, DFX (Digital Financial Experts) helps its clients sharpen their financial vision and strengthen their financial conduct. Our Virtual CFO services are carried out following a well-planned and systematic approach curated for every client to meet their specific business objectives.
If you have any questions about our Virtual CFO services, drop us a message and we shall be happy to reach out to you.

Service Inclusion

Finalization of Services

CFO services are “objective-based” and designed as per the KPI’s to be achieved.

Delivery of Services

The objective(s) can be:

  • Business Performance Improvement
  • Business Process Improvement
  • Digital Transformation
  • Expansion

To achieve any one or multiple objectives, as decided, DFX experts shall take the following approach:

  1. Financial Feasibility
  2. Critical Pathway: (i.e. Tasks, Sub-tasks, Timelines and team involved to achieve the objective)
  3. Delivery of Services: The services are delivered as defined in “Critical Pathway”. These deliverables can be divided into: one-time and recurring deliverables.
  4. Project Management: Various stakeholders shall be involved i.e. external stakeholders (like vendors) or clients’ team members, wherein DFX team shall ensure – getting things done (GTD).
  5. Evaluation: KPIs are evaluated to measure the effectiveness of services delivered and report is shared at decided intervals.


Virtual CFO services are divided into two types of deliverables:

  1. One-Time
  2. Recurring

Timelines to be decided based upon the service requirements.


What are CFO services?
A Virtual CFO delivers the services which otherwise are performed by a regular, employed CFO as per business requirements. Virtual CFO services include Financial MIS & Analysis, Business Performance Improvement, Business Process Improvement, Expansion Support, Business Agreements, etc.
At what point does a startup need a CFO? Why should start-up's hire an virtual CFO?
The best time for a startup to avail of CFO services is right from the onset. It is from the formative stages that startups must have robust financial planning and projections. This includes budget allocation across functions, working towards maintenance of solvency and cash flows of the enterprise, mapping the financial strings and repercussions associated with the business model, etc.
Is Virtual CFO effective for a new business?
Financial constraints make it difficult for most of the new businesses to hire a full-time CFO. Having a Virtual CFO solves this problem and helps businesses gain access to expert advisory and consulting services in managing the broad financial matters of business.
Will DFX implement any software?
DFX will not implement any business process (finance) software or ERP Finance module. However, DFX offers – software requirement evaluation and recommendation services as an add-on package. Availing this add-on package shall require prior information.
What are the benefits of Virtual CFO? What are the advantages of Outsourced CFO Services?
The biggest advantage with a Virtual CFO is that of economy in comparison to having a full-time CFO. Services of a Virtual CFO can be used only as per business requirements. Businesses get access to professional guidance and direction in financial management.
How do I make the payment?
You can make the payment online through bank transfer and digital wallets. DFX team shall guide you with the payment procedures.
Can I cancel after paying for the service?
Until the initial 01 session or 60 minutes of advisory sessions are completed (whichever is earlier), you can cancel the services at any time. Once DFX team starts working on your project, cancellation of services shall not be possible. In case of cancellation, we assure 100% money back into your original payment account within 72 working hours of your cancellation. Please note that few banks may take longer but from our side, it shall be processed and proofs shall be submitted.
Is this relevant to my country, city or location?
Every city/country presents their own set of business scenarios, compliances and challenges. Our experts shall understand your business constraints and accordingly design solutions specially crafted to suit your business requirements.
How can I avail this service?
We have a 3-Step process to get started:
Step 01 – Request for Quote
Step 02 – Service Quote Finalization along with SLA (Service Level Agreement)
Step 03 – DFX Experts start working on your business
Will the consulting be conducted online, or will it be classroom-based? What will be the duration ?
The entire consulting shall be conducted online keeping in mind the ‘new normal’. The total duration shall be defined in the proposal. In case you want to speed up the process, you can always pre-schedule your dates of consultation with our expert.
Will there be a live one-on-one interaction with the expert or it shall be a pre-recorded video session?
The entire consulting will be a live one-on-one interaction with DFX experts.
Is this a one-on-one (personalised) or a Group Consulting?
This is a personalized one-on-one online advisory service, in which you will be interacting ‘LIVE’ with DFX experts.

Let’s Talk!

    Partnered as Finance Advisor at 250+ companies worldwide