Finance & Virtual CFO Support

Every small business needs financial reporting that is accurate, timely and relevant. We pair Virtual CFOs with Bookkeepers for cost-effective financial results when you need them.

Many small organizations believe they can only afford a single financial resource and choose between strategic or operational support to handle their financial needs.

This approach is often not cost-effective and leaves SMEs with significant coverage gaps in their finance function. The financial health of your business needs more attention and insight than what accurate bookkeeping can inform. And whenever the volume of work allows, Virtual CFOs should not be performing operational activities that can be done by a lower-cost resource.

A Tailored Approach

We know that the support of a leader in finance, even in small amounts, is an important ingredient to give companies the financial insights, depth of analysis and support needed to thrive and grow over the long-term.

Combining a Virtual CFO with an experienced bookkeeper or a superior administrative assistant is a practical and affordable approach that provides a sustainable solution over the long-term.

We begin by understanding the current state of the financials and the existing team. Our goal is to arrive at a scalable and sustainable approach that ensures long-term reporting and oversight that meets your needs.

Finance & Administration Services

Virtual CFO

Business Sherpa Group Virtual CFOs work with you to provide the senior financial leadership your organization needs in order to take your performance to the next level.

As a member of your senior management team, your Virtual CFO will build internal capacity in your organization by increasing efficiencies and bringing a financial planning focus to your important business decisions. They provide oversight for the entire finance function and ensure that your financial reporting is accurate, timely and relevant.

A Virtual CFO will work with you to:

  • Build reliable budget and forecasting models.
  • Capture key business indicators.
  • Create a strong model to measure actual results against budget or forecast and manage proactively.
  • Manage cash so there are no surprises.
  • Build tools, monitor results and support business and operational decisions.
  • Provide oversight of other back-end services and functions.

Business Sherpa Group works with you to take bookkeeping responsibilities off your ‘to do’ list. An experienced bookkeeper will keep your books up to date and will let you focus on where you really want to be spending your time.

By definition, bookkeeping is the process of recording your financial transactions in a systematic and consistent way. Bookkeeping is the foundation upon which you can rely on to understand the financial aspects of your day to day operations to enable you to manage your business more effectively. It involves capturing, classifying, and recording all your financial transactions and is much more informative than a shoebox approach! Supplier bills, cash flow and client invoices can’t wait for the year to end before they need attention and business decisions are simply easier when your financial records are up to date.

The Business Sherpa Group approach is flexible – our Bookkeepers can do as little or as much as makes sense for you and your business. And if needed, we can recommend a Virtual CFO that can support your business management – providing you a financial team that is both cost effective and reliable. This team approach provides financial insights and reporting that targets your business issues and moves beyond simply recording financial transactions and ultimately helps you make better informed business decisions.

Finance Function Assessment

Do you know if your finance function is operating effectively? Our Finance Assessment is a low-cost solution if you aren’t sure of your real financial reporting needs or which resources to hire.

We work to ensure appropriate internal controls are in place, ensure regulatory compliance and identify opportunities to improve your financial reporting.

  • Financial Reporting Overview
  • Finance Team Resource Check
  • Key Business Indicators
  • Policies & Procedures
  • Compliance
  • Financial Sustainability
Business Insights

The value of your organization is typically driven by certain key drivers. Do you know what they are?

Determining and measuring those key business indicators allows your organization to focus its attention and measure its success in a way that ensures you are on track to achieve your goals.

We look at your organization’s strategic focus and ensure it is moving in a direction that is facilitated with long term planning, both for operational and capital spending. We will work with you to assess the adequacy of your finance tools and staffing resources and recommend approaches to better manage your financial assets.

  • Rolling Forecasts and Operational Plans
  • Strategic Plan Financing Alignment
  • Key Business Metrics
  • Monitoring and Tracking Indicators
  • Financial Tools Assessment
Risk Management

Virtual CFOs work with you and your insurance broker to formalize your risks and ensure your insurance coverage meets your business needs.

Risk exists in many forms in all organizations, and becomes more formalized as your organization evolves. And in many cases, the formalization of risk is needed to meet funding requirements. The key is to understand your risks clearly and to have a plan in place that manages those risks.

In addition to ensuring your insurance coverage meets your needs, we can also work with you to review your contract management approach.

  • Financial Policies Review
  • Internal Controls Review
  • Credit Controls Review
Administrative Support

Small organizations need strong administrative support to optimize their limited resources but often cannot justify a full-time hire or find the right experience and expertise in a part-time hire.

The administrative professionals at Business Sherpa Group bring incredible organizational skills and a strong business sense to support you on a periodic or ongoing basis. We allow you to assess the effectiveness of the support and adjust as your business needs change, with no long term commitment required.

Project Management

With limited resources and multiple competing priorities, critical projects often do not move forward with the speed and focus necessary.

Business Sherpa Group’s seasoned Project Managers hone in on key business requirements to move critical initiatives forward without the day-to-day distractions of running the business.

They are able to quickly assess the situation, connect with key contacts and develop and execute on a plan, either independently or with other members of your team. This model works very well if you have well-defined and focused projects that need to be completed in a rapid, thoughtful and focused way.

What Our Finance Clients Are Saying

  • As a CEO of a small association you seek innovative ways to get maximum value from your resource dollars. At CAR, I wanted the association to have the highest level financial expertise possible but I only needed it part-time and with flexibility in hours each week. A Virtual CFO from BSG was the solution! Not only did we get the expertise, BSG got to know our culture and matched us with a consultant who fit superbly with our team.

    Adele Fifield
    Adele Fifield Former CEO, Canadian Association of Radiologists
  • Our BSG bookkeeper has provided the right level of support along our journey as a growing SaaS company and has proved to be a flexible and responsive resource for us. Adding in vCFO support flexibly as our reporting needs increased has given us essential financial support and allowed us to focus on business growth.

    Stephen Foley
    Stephen Foley CEO, Member365

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