What Does A Virtual CFO Do: Services, Process & Outcomes for Growing Businesses

You’ve probably heard of Virtual CFOs by now.
Maybe you’ve read about them, seen the term on LinkedIn, or even bookmarked a blog like this one.

But the real question founders ask is:
“Okay, but what exactly does an OutSourced CFO or Virtual CFO do?”

Let’s break it down in simple language

Table of Contents

1. What Does a Virtual CFO Actually Do?
2. Core Services Offered by a Virtual CFO
3. Virtual CFO vs Accountant vs Controller
4. How the Engagement Process Works
5. Tools, Calls and Monthly Deliverables
6. Outcomes You Can Expect
7. Case Study: Virtual CFO Services Resulted in ₹2.5 Lakh Monthly Profit Growth
8. Frequently Asked Questions (FAQs)

What Does a Virtual CFO Do?

A Virtual CFO is more than just an outsourced accountant.
They’re your financial co-pilot, helping you make business decisions with numbers, not gut feel.

They focus on:

✅ Understanding your business model

✅ Creating systems for financial clarity and control

✅ Giving you insights from dashboards, reports, and forecasting

✅ Helping you scale while staying compliant and cash-positive

Core Services Offered by a Virtual CFO

At CFO Services LLP, we offer a structured outsourced CFO upscale model tailored for SMEs and funded startups. Services include:

✅ Budgeting and Forecasting
Build realistic budgets and set growth targets

✅ Cash Flow Management
Track payables and receivables, and prevent shortfalls

✅ MIS and KPI Dashboards
Monitor performance with monthly MIS packs and financial reports

✅ IPO and Fundraising Support
Prepare for investor meetings, financial models, pitch decks, and diligence

✅ Regulatory and Tax Compliance
Review TDS, GST, and ROC filings and stay audit-ready

✅ Investor Reports and Board Packs
 Generate investor-grade reports with insights that matter

✅ Internal Controls and Risk Reviews
Set up SOPs, approval flows, and alerts to reduce errors

Virtual CFO vs Accountant vs Controller

A Virtual CFO works alongside your CA or accountant and fills the gap between accounting and strategic finance.

How Does the Virtual CFO Engagement Process Works

Our Virtual CFO engagements follow a clear three-step process:

1. Discovery
   Understand your business model, goals, and current finance setup
2. Diagnosis
   Run a financial health check and identify risks, gaps and opportunities
3. Monthly Cadence
   Regular calls, MIS reporting, dashboards, and forward planning

This process brings structure to your finances, allowing you to focus on growth.

Tools, Calls, and Monthly Deliverables

We work with tools that match your setup:

• Software: Zoho Books, Tally, Excel, Google Sheets, or any ERP
• Meetings: Weekly or bi-weekly Zoom calls, in-office visits as needed
• Monthly Pack: MIS dashboard, cash flow forecast, budget tracker, investor report

With clear documentation and structured reviews, we bring discipline to your financial systems.

Outcomes You Can Expect From Onboarding A Virtual CFO

Here’s what most clients see within a few months of Virtual CFO onboarding:

• Better understanding of profits and financial performance
• Predictable cash flow with fewer surprises
• Timely investor updates and lender confidence
• Strategic use of data for hiring, spending and planning
• Lower non-compliance risk with strong SOPs
• Clarity on what’s working and what’s leaking money

It’s not just accounting. It’s clarity, control and confidence.

Case Study: Virtual CFO Services Resulted in ₹2.5 Lakh Monthly Profit Growth

One mid-sized business with ₹25 Cr turnover came to us with delayed reporting, high manual errors, and poor cash visibility.

Despite having multiple accountants, their financial insights were reactive.
Our team redesigned their Zoho Books setup, created a budgeting model, and introduced monthly MIS reviews.

The result:

• ₹2.5 lakh profit uplift every month
• 4% improvement in operating margin
• Clean MIS reporting for internal teams and external investors
• Fewer errors, less firefighting, and more confidence in decision-making

All powered by our Virtual CFO + 3-tier execution model.

Want to know what this would look like for your business?

CFO Services LLP offers a Free Virtual CFO Health Check to help you assess your current setup, risks, and missed opportunities.

Let’s bring structure and visibility to your finances.

Also Read: Top 5 Signs Your Business Needs a CFO