Virtual Chief Financial Officer Services: Boon for Nonprofit Organization

Posted by ProactiveCFOs on August 27th, 2019

Raise your hand if you are a nonprofit executive director and have a long list of business ideas but scanty resources to make them a reality. If you want to expand the impact of your nonprofit’s mission, then leveraging the end-to-end virtual chief financial officer services is the best bet for you.

Common Financial Challenges Faced by Nonprofits

1. Cash shortages
2. Budget deficits
3. Fundraising woes

How a VCFO service can overcome these challenges

Cash Management
Virtual chief financial officer uses some cash management tools such as (Cash position report, burn rate, and runway) to ensure a nonprofit always has advanced warning of cash shortfalls while there is still time to react.

Budgeting
An experienced VCFO builds and uses a budget efficiently so that you do not face any financial hurdle throughout the year.

Fundraising
VCFO are well-versed to create a compelling financial story that provides quantifiable evidence of your organisation’s impact.

For a non-profit executive director, hiring a reliable VCFO service provider is a better way to monitor the financial health of its organisation. At RSB Hexagon, we strive to deliver best-in-class VCFO services to all our clients to drive their business towards success. For more information please visit www.proactivecfos.com.au