The technology, communication systems and software packages now available enable accountants/business advisers to be able to deliver a Virtual Chief Financial Officer service to small/medium enterprises (particularly with turnovers over $2.5 million per annum) situated anywhere in Australia, irrespective of where the accountants/business adviser is located.
Over the last 15 years, the small business community has been asking, in survey after survey, for a wider range of commercial services to be made available to them.
The Chief Financial Officer Product Package gives accountants/business advisers the tools to be able to deliver an outstanding range of services to your small/medium enterprise clients who want to go to the “next level” and want “value” added to their businesses.
The package was developed following a review of advertisements for Chief Financial Officers, Chief Accountants and Finance Directors, which were placed for positions within listed public companies and major charities/not-for-profit organisations.
When these advertisements were analysed it was obvious that many of the duties that had been identified by these types of organisations also applied to small/medium enterprises. Unfortunately most small/medium enterprise organisations do not have skilled, full-time qualified team members responsible for activities like accounting, where as in a listed public company, in most cases they do.
From this research we have developed a series of forms, templates, PowerPoint slides and spreadsheets to assist accountants/business advisers to implement an appropriate range of Chief Financial Services that you have configured for the benefit of an individual client.
Information Technology Functions
Finance (Treasury functions)
Budgets and Cashflow Forecasts
Due Diligence Report
Research and Development
Gold package of bundled services
Silver package of bundled services
Bronze package of bundled services
What if questions
Vision Statement for the business
Monitoring the businesses performance
Advice on potential affect from digital disruption
ESS BIZTOOLS will provide 2 x 1 hour coaching via Zoom for an individual firm
Business Advisory Services Briefings
ESS BIZTOOLS will conduct monthly 30 minutes group update sessions with subscribers’ Business Advisory Services Managers.
Business Plus Newsletter
Business Plus+ is produced monthly (February to December) with two additional editions being produced in May - "Federal Government's Budget Effects on SMEs" and "End of Year Tax Planning". Business Plus+ includes information on business development items, which will encourage your clients to use a wider range of services from your accountancy business. We also enclose links to the appropriate ESS BIZTOOLS material that contains additional information on the subject matters raised within Business Plus+ for internal reference.
By offering Chief Financial Officer services to your clients, who wish to avail themselves of a more “commercially orientated accounting service”, an accountancy/business advisory business will be satisfying client requirements but at the same time developing a varied income stream for the accountancy/advisory business and also offering a significant variation of work for the accounting team.
There are thousands of businesses in Australia with turnovers over $2.5 million that have aspirations to grow their businesses. Most of these businesses cannot afford a full-time Chief Financial Officer, but they would like to receive the range of services that they would expect to receive if they did have a full-time CFO. This gives a tremendous opportunity to accountancy/business advisory businesses to supply a broader range of very interesting, professional services to your clients.