IBN Technologies wants small and medium-sized businesses to gain the financial knowhow they need to succeed — even if that means hiring a virtual CFO. Reports this week revealed that IBN Technologies is launching its Virtual CFO services in an effort to help SMEs make the crucial accounting decisions they need to survive in today’s competitive market.
According to IBN Technologies, its new financial service product offers the same tools as would an actual chief financial officer, allowing a business owner to save time and resources from having to address finances and expense management.
“A virtual CFO takes in account the integrated financial operations,” the company said in its announcement. “An expert’s insight gives the decision-makers financial information based on companies’ current funds utilization.”
The service automates the monitoring of budgets and other financial data thanks to cloud-based software.
The benefits of a virtual CFO are twofold, IBN Technologies said. First, it helps a small business save time in managing its finances, budgeting and cash flow management. Second, it saves businesses money by providing a more cost-effective, on-demand service. According to the company, its Virtual CFO tool integrates with businesses at one-third the cost of hiring an actual CFO.
Additionally, the Virtual CFO tool provides tax compliance functions and was developed by certified, financial services experts within IBN Technologies, the firm said. Developers understand the accounting software market, and such experience “enables IBN Technologies Limited to ensure reduced employee risk by integrating staff redundancy in their outsourcing processes,” the company added.
The Virtual CFO will be available to SMEs across the U.S. and the U.K., according to the firm.
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