How to Hire a Top Level Virtual CFO at ‘Zero Cost’
Virtual CFO Services are becoming more the norm for small/medium businesses. You can hire a Virtual CFO for a mere fraction of hiring someone full time.
Running a construction company is very different from running a typical service-based business, especially managing your accounting. You’re managing multiple projects at different stages including;
At the same time, you need accurate, real-time financial visibility to ensure each project stays profitable. But with uneven cash flow and rising project demands, a full-time CFO isn’t always possible — or cost-effective.
That’s why we provide outsourced CFO-led accounting services designed specifically for construction and building.
You get the strategic direction of an experienced CFO, combined with hands-on financial management, without the cost of hiring one full-time.
But hiring one internally can cost well over $250k per year.
You get construction-specific financial expertise, better systems, accurate numbers, and strategic guidance — all delivered at a fraction of the cost of a full-time CFO.
| Option | CFO-led accounting (outsourced) | In-house CFO | Accountant / Bookkeeper | Controller |
|---|---|---|---|---|
| Cost | Predictable monthly retainer | Full salary package (+ on-costs) | Lower (compliance-focused) | Moderate |
| Project financial oversight | Yes — construction-specific oversight across all jobs | Yes | No | Limited |
| Job costing & margin tracking | Accurate job-by-job costing & margin insights | Yes (depending on internal systems) | Limited | Limited to operational tracking |
| Cash-flow forecasting | Included — factoring in progress claims, retentions, delays | Yes | Not typical | Moderate |
| Progress claims & retentions support | Managed — detailed oversight & reporting | Depends on workload | Not typical | Sometimes |
| Sub-contractor & supplier payment management | Streamlined workflows & controls | Yes (resource-dependent) | Basic processing | Moderate |
| Time-to-value | Weeks — 30–60 days for quick wins | Months — recruitment & ramp-up | Immediate (limited scope) | Months |
| Coverage & resilience | Team-based coverage & escalation | Single point of dependency | Single point of dependency | Single point of dependency |
| Meeting cadence | Fortnightly financial sessions; monthly management pack | As set internally | Ad-hoc / EOFY | Monthly ops focus |
| Best for | Construction businesses needing CFO-level oversight without full-time cost | Larger or complex construction groups | Basic bookkeeping & tax support | Process & operational control discipline |
We provide tailored CFO services for:
If your business runs project-to-project and depends on accurate costing, forecasting and margin protection, we can help.
| Service | Description |
|---|---|
| Job Costing & Project Profitability Tracking | Set up accurate job-by-job costing to track labour, materials, subcontractor costs, and project margin in real-time, preventing cost overruns and protecting profitability. |
| Budgeting, Forecasting & Cash Flow | Includes rolling budgets and forecasts, scenario analysis for delayed payments or retentions, and working capital planning to maintain healthy cash flow across projects and the business. |
| Revenue, Profit & Cash Flow Improvement | Strategies to improve revenue, profit and cash flow through analysis, KPIs and close monitoring. |
| Progress Claims, Retentions & Contract Billing Support | Manage invoicing cycles, track retention payments, and ensure all progress claims are accurate and paid on time, aligned with contract terms. |
| Subcontractor & Supplier Payment Management | Streamline approval workflows, avoid double payments, and maintain strong supplier and subcontractor relationships through organised payment processes. |
| Management Reporting & Financial Dashboards | Monthly (or fortnightly) reporting with actionable insights, including job profitability, work-in-progress (WIP) position, overhead absorption, forecast vs actuals, and resource utilisation. |
| Systems & Process Improvement | Optimise or implement accounting and job-management systems (Xero, MYOB, WorkflowMax, Buildxact) and internal controls to improve efficiency, accuracy, and project-level visibility. |
| Strategic Advice & Growth Planning | Guidance on pricing strategies, margin optimisation, capital and cash-flow planning for larger projects, scenario modelling, and scaling the business while protecting margins. |
| Finance Team Support & Capability Building | Mentoring and support for internal finance/admin staff, ensuring accurate job-costing, smooth workflows, and reliable financial reporting, plus on-demand CFO advice between management meetings. |
We start with a no-obligation call to understand your construction business, current projects, cash-flow cycles, and financial challenges.
You’re matched with a construction-experienced CFO who develops a 90-day plan covering budgeting, cash flow, reporting improvements and quick wins.
Your CFO manages project cash flow and budgets, prepares monthly management dashboards, attends owner or project meetings, and provides ongoing strategic guidance. Engagements can be monthly, quarterly, or project-based to suit your construction schedules and payment cycles.
To de-risk the transition, we follow a structured onboarding:
Week 1: Access & diagnostics – review your general ledger, job costing, prior year accounts, and compliance filings.
Week 2: Clean-up & KPI design – tidy the chart of accounts, streamline project tracking, and design construction-specific KPIs.
Week 3: Forecast & budgeting – build a 13-week cash flow model and project budgets.
Week 4: First management-ready pack – deliver a dashboard and action plan; refine the plan for the next 60 days. We will ask for access to your accounting system, bank/merchant portals, project contracts, subcontractor agreements, and policies to get started.
Hiring a full-time CFO in Australia can cost well over AU$250,000 per year. Our CFO accounting services are available on a retainer or project basis, typically ranging from AU$3,000 to AU$15,000 per month, depending on complexity, size, and scope. Engagements can be month-to-month or three-month terms. There are no hidden setup fees. Most clients see quick wins in the first one to two months, with benefits that far outweigh the cost.
Our goal is to maximise the profitability and efficiency of every project. Working with our CFOs, construction businesses have:
One building contractor reduced month-end close time by five days and improved project margin visibility after implementing our 13-week cash forecast and project budget methodology.* * example for illustration; specific client results vary.
Our Virtual CFOs are ready to help you, Australia-wide. Tell us about your financial challenges, we can talk by phone, online or in person.
Call 1300 36 24 36Virtual CFO Services are becoming more the norm for small/medium businesses. You can hire a Virtual CFO for a mere fraction of hiring someone full time.
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