Whether your company is fully or partially remote, bringing on a virtual CFO may align with your strategy to maintain a decentralized workforce. In many company circumstances, the CFO does not need to be in-person with their team or other management team members.

Companies that reach a certain size or complexity threshold may look to engage a virtual CFO before committing to hiring a new member of the C-suite. A virtual CFO can help a company establish processes and systems for scale, position for fundraising, and more to help pave the way for company growth and a smoother transition to a permanent CFO when the time comes.

Virtual CFOs are great resources for companies who need to call on the expertise of a seasoned finance executive occasionally, but not all of the time. Virtual CFOs can serve as ad hoc advisors, supporting the management team when needed, and committing a much smaller number of hours than a full-time CFO.

Virtual CFOs can serve as a specialist in certain areas where your current finance team may not have experience. A company's CFO may call upon the support of another CFO who has been through an unfamiliar situation, seeking advice on complex topics. Major M&A events, IPOs, or system migrations, for example, will all benefit from the involvement of a CFO who has led through these situations.