Service businesses rely on selling time, expertise and intellectual capital. The big question in this type of business is “Are you selling all the hours you’re paying for?”

From start-ups to major enterprises, it’s not uncommon for professional service businesses to run into productivity issues with their staff. You may be paying staff for say 38 hours per week, however you’re only able to bill out their time for a fraction of that time. This often happens when they get involved in doing all kinds of other things that can’t be directly billed to clients.

The key to profitability is systems and processes to ensure staff are working on maximum billable activities. It’s not that staff don’t want to do this… it’s often the systems aren’t there to support them to achieve higher productivity.

The other big issue is understanding the ‘true cost’ of staff that needs to be covered by the charge out rate to clients. Also, the rate needs to cover any fixed overheads… plus a profit. All of this can be tricky to work out and keep track of if you don’t have good systems in place.

So what is the solution? CFO On Call has the answer.

Great results are achievable with the help of CFO professional services. By sourcing high-quality work at an affordable, contractually based price, Virtual CFOs for professional service businesses are readily equipped to help your SMB scale.

If it’s your first time considering working with a virtual CFO for a professional service business, you might not know what to expect. A few of the benefits commonly associated with CFO services for professional service businesses include:

1.  Accuracy

Rather than relying on inefficient workflows or frustrating software, experienced virtual CFOs for professional service businesses drastically reduce your risks of human error. This is especially helpful for brands in engineering industries.

2. Profitability

You’ll know exactly what your business is making — and how much it might make in the future. Our CFO services for professional service businesses help you achieve confidence in your profit forecasts by getting detailed reports from industry experts.

3. Forecasting

Feel more in control of your business’s future by forecasting its potential. Virtual CFOs for professional services allow companies to reliably scale their service-based business.

Regardless of who you are and what you sell, your business will be stronger with ongoing CFO professional services. Give your business the groundwork for success with Virtual CFOs from CFO On Call.

Remote areas are no problem for our Virtual CFOs Australia Wide. Whether your business is in Mackay, Melbourne, Brisbane, Sydney, Perth, Newcastle or any regional area, we can provide an outsourced CFO service to meet your needs.

A CFO On-Call can work with your services business online when it makes sense and in person when you need it.

For more information about how we can help transform your business, please contact us today.

GET THE Benefits of working with a Virtual CFO with Professional Service Business Experience

Just like any other business, service businesses rely on a good reputation, so tight systems that support staff to do the best job create a positive work environment, which leads to happy clients.

You already have enough on your plate, so why not simplify the financial side of things by leaving it up to the expert team at CFO On Call?

As you can see, virtual CFO services for professional services for high-tech industries are absolutely essential. Not only do they guide growing brands through the process of streamlining profits, but they prepare them for changing needs and evolving trends as well. And with the help of a Virtual CFO, your business will be even better equipped to take on the future.

Benefits of working with a Virtual CFO for Professional Service Businesses

Still on the fence? Here’s how our virtual CFOs can help you take your business to new heights:

  • Systems to track staff productivity create confidence, better sales and profit
  • Accurate costing and ‘mark-up’ calculation ensures the right pricing for profit
  • Target and KPI setting provides certainty and clarity for business owners and staff
  • Clearly laid out Budget ensures overall business profitability and higher value

Do you need greater certainty in the financial outcome? SMEs who could only dream of hiring a CFO are now able to take advantage of a CFO On Call.

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3 Way Forecast

confidence to grow

Simple, accurate and timely reports to guide you to the right decisions.

increased profit

If your overall profit is made up of too many losers and not enough profitable lines you could be missing out.

cash flow results

‘Non financial’ information is what drives profit and Cash Flow results.

Boost Efficiencies

Analyse how things work and find ways to save time and money.

Need a cash flow breakthrough? Order a copy of your FREE book today!
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We can help your businesses with:

Increase Profits
Most importantly, regular clients make a 51% improvement in profit.
Secure Bank Loans
Banks are more cautious than ever about lending money to businesses large and small. We’re experienced dealing with lenders and how they look at potential borrowers.
Manage Business Cash Flow
Whether you're looking to grow your business, have growing pains, issues with cash flow management can severely limit your business growth capacity.
Financial Modelling
Get a summary of your company's expenses and earnings to calculate the impact of future decisions and planning.
Cash Flow Forecasting
A Cash Flow Projection sets out the ‘peaks and troughs’ in the future of your cash position
Key Financial Reporting
Track, analyse and report your business income to examine resource usage, cash flow and more.
Business Exit Planning
Most business owners want to sell or exit their business one day. The question is what will it be worth and how can you maximise the value?
Strategic Financial Advice
Have an expert help with pricing, costing, margins, targets, interpreting management accounts
Growth Planning
A Virtual CFO can help you with growth and profit planning and can prepare projections for your bank or lender.
Systems & Processes
If you want to be freed up from your business, you need systems in place. Getting yourself, as business owner, ‘off the tools’ is vital to growing your business.

Meet the Professional Service CFOs

Think of us as your financial co-pilot providing clarity and confidence so you can drive your business and make money.
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Get a Business Health Check Meet the CFOs

We have created an average of 51% profit increase.

An Outsourced CFO is a corporate gun; an elite financial freelancer available 24/7 to meet any business’s needs as they arise. These CFOs engage with clients in the most effective way, accessing accounts and spreadsheets via cloud-based programs and dispensing their advice over video streaming services like Skype or WhatsApp, as well as in person. In this way, duplication is cut, along with transport costs and time spent travelling to and from face-to-face meetings.

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Testimonials

“We have the useful information we need to make the financial and business decisions at the right time. Our CFO’s input has led to a 27% improvement in profitability.”
Greg Jaques
GM Nolans Transport
“My CFO has provided me with a fantastic insight into the KPIs that really drive my business. We now have a better understanding of smarter pricing and the type of work that provides better margins.”
Kerry Matthews CEO Powerex
CFO = Matt Bliss
“He has taken the pressure off me. Net profit is growing and I’m confident our strategy can be implemented and turned into reality. I’m now living the dream - running the business remotely.”
Mike Brewill
CEO Velocity Electrical
“We’ve already made improvements of six figures! Our CFO On-Call’s experience has made a huge difference to our bottom line. He’s streamlined our processes and efficiency to better use our systems and people.”
Rodney Frost
Group GM lamson Paragon Group.
“I was flying by the seat of my pants and not always enjoying the ride. One day great - the next day chaos. I was always putting out fires. I don’t want to go forward without my CFO On-Call. His blood is worth bottling!”
Richard Ching
CEO of QME
“I’ve now got the confidence to grow the business. I’ve got lots of ideas about business direction and his input is great. Our CFO On-Call is a valuable asset who helps with the planning and ensures cost effectiveness.”
Francis Vigliante
CEO of BRI

let’s get started

Virtual CFO’s Australia Wide. Tell us about your financial challenges. We can talk by phone, online or in person.

Call 1300 36 24 36
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FAQ’s

What experience does your team have working with professional service businesses?

Our team of virtual CFOs for professional services have extensive experience working with various professional service businesses, including law firms, consulting agencies, marketing companies and even IT service providers. From project-based revenue, cash flow management and staff utilisation, CFO On Call understands the unique financial challenges these industries face.

Since implementing our CFO services for professional service businesses, we’ve helped our clients increase their profits by an average of 51%, optimise their financial performance and unlock new opportunities.

How can virtual CFOs assist professional service businesses in developing effective pricing strategies to maximise revenue and profitability?

Experienced virtual CFOs analyse your business’s financial data, market conditions and competitor pricing to develop tailored pricing strategies that better align with your service value. They also help identify the most profitable pricing models, whether it’s hourly rates, fixed fees or value-based pricing.

By continuously monitoring financial outcomes, virtual CFOs for professional services ensure that pricing adjustments are made to maximise revenue and profitability over time.

How can virtual CFOs effectively collaborate with professional service teams that may be geographically dispersed or working remotely?

We understand communication challenges that can arise when partnering with a virtual CFO. Our team takes proactive measures to keep the lines of communication open and transparent through cloud-based software, project management tools and regular virtual meetings via Skype or WhatsApp to seamlessly integrate with your team.

During these meetings, you’ll hear real-time financial insights and receive strategic financial advice. This ensures all stakeholders stay informed and aligned to help you achieve your financial and strategic objectives.

What risk management strategies can virtual CFOs recommend to mitigate potential risks in professional service businesses?

CFO services for professional service businesses can identify common financial risks such as cash flow shortages, client payment delays and potential compliance issues. They can also recommend strategies like setting up strong cash flow management systems, implementing effective credit control policies and maintaining emergency funds.

We can also advise on how to diversify client bases and services and regularly review your business’s financial performance to proactively address potential risks before they impact your business.

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