What Does an Outsource CFO Do?
An outsourced CFO (Chief Financial Officer) provides the same high-level financial leadership as an in-house CFO—overseeing strategy, forecasting, cashflow, and growth—but without the cost of a full-time executive. They step into your business as a trusted partner, helping you make smart financial decisions, improve performance, and prepare for the future.
Below, we’ve outlined the main responsibilities of an outsourced (or “external” or “virtual”) CFO.
Strategic Financial Guidance Without the Full-Time Cost
Hiring a CFO outright can be costly, especially for small and mid-sized businesses. An outsourced CFO provides access to this expertise on a part-time or project basis. This means you can benefit from:
- Cashflow management – monitoring inflows/outflows and protecting liquidity.
- Budgeting and forecasting – creating realistic, data-driven financial roadmaps.
- Growth planning – structuring finances to scale sustainably.
- Risk management – identifying weaknesses and safeguarding assets.
This flexible model allows you to gain corporate-level expertise at a fraction of the cost of a full-time executive.
Improving Systems, Reporting, and Compliance
An outsourced CFO doesn’t just look at the numbers—they improve the way those numbers are managed and reported. Their role often covers:
- Upgrading financial systems – integrating tools like Xero and add-ons for efficiency.
- Improving reporting accuracy – delivering timely, reliable data to guide decisions (see our guide on financial reporting accuracy).
- Tax strategy support – working alongside accountants to minimise obligations and remain compliant.
- Stakeholder reporting – preparing clear information for lenders, investors, or boards.
This ensures business leaders aren’t making decisions in the dark.
Supporting Key Business Decisions
Big financial moves come with big risks. An outsourced CFO helps you assess options and make confident choices. This includes:
- Structuring mergers, acquisitions, or exits (explore business exit strategies).
- Advising on start-up funding and investor negotiations.
- Guiding pricing strategies and margin improvement.
- Benchmarking performance against industry standards.
Their independent view gives clarity in moments that matter.
When Should You Engage an Outsourced CFO?
You may benefit from external CFO support if:
- Your business is growing quickly and needs structured financial management.
- You’re preparing for an expansion, investment, or acquisition.
- Cashflow problems are limiting your ability to plan confidently.
- You don’t have in-house expertise at the executive level.
At M2 Corporate, our Managing Director, Mace Turco, has acted as both a founder and CFO, including helping scale Pirate Life Brewing to one of Australia’s most successful craft beer acquisitions. That level of experience is now available to you as part of our External CFO services.
About M2 Corporate
M2 Corporate is a boutique accounting and advisory firm, recognised nationally with awards and finalist positions across business advisory, boutique practice, and partner excellence. As Xero Gold Partners, we combine hands-on financial expertise with modern technology to keep businesses moving forward.
We specialise in:
- Accounting and taxation
- Business advisory
- External CFO services
- Structuring, start-ups, and growth strategy
Discover how we can support your business—book a free consultation with our outsourced CFO in Perth today.
FAQs
What does an outsourced CFO do day-to-day?
They review financial reports, manage cashflow, advise on strategy, and attend leadership meetings as needed—acting like an in-house CFO but with flexible engagement.
How much does it cost to hire an outsourced CFO?
Costs vary depending on the scope—whether ongoing monthly support or project-based advice. For many businesses, it’s far more affordable than hiring a full-time executive.
Is an outsourced CFO suitable for small businesses?
Yes. Smaller companies often benefit the most, gaining executive-level insights without the payroll burden.
