Frequently Asked Questions
Common questions about fractional CFO services and how myCFO.co works.
What is a fractional CFO?
A fractional CFO is an experienced Chief Financial Officer who works with your business on a part-time or flexible basis. You get senior-level financial leadership and strategic guidance without the cost of a full-time executive hire. Fractional CFOs typically work with multiple clients simultaneously, dedicating an agreed number of hours or days per week or month to each engagement.
How does a virtual CFO engagement work?
A virtual CFO engagement is delivered primarily through remote communication — video calls, shared dashboards, email, and collaborative tools. We establish a regular cadence of meetings and reporting, with periodic face-to-face sessions as needed. The virtual model allows us to work efficiently with businesses across Australia.
When does a business need CFO advisory?
Typically when you’re generating $2M+ in revenue, experiencing growth complexity, considering capital raising or acquisition, preparing for board governance, or simply feeling that your financial reporting isn’t giving you the insight you need to make confident decisions. If you’re asking the question, it’s probably time.
How is this different from my accountant?
Your accountant manages compliance — tax returns, financial statements, and regulatory obligations. A fractional CFO focuses on strategy — cash flow forecasting, KPI analysis, growth planning, board reporting, and financial decision support. The two roles complement each other perfectly.
What does a typical engagement look like?
Most engagements start with a financial health assessment and KPI framework setup, then transition into ongoing advisory. This typically involves monthly financial reviews, KPI dashboard maintenance, cash flow forecasting, and strategic counsel. The scope and frequency are tailored to your business needs and budget.
How much does it cost?
Fractional CFO engagements are structured based on the scope and frequency of advisory required. Most SME engagements range from a few thousand dollars per month for light-touch advisory to a more substantial investment for comprehensive CFO services. We’ll discuss pricing transparently during your consultation.
Do you work with businesses in regional Australia?
Yes, Our virtual CFO model allows us to work with businesses across Australia. We use collaborative tools and video conferencing to deliver the same quality of advisory regardless of location.
What accounting software do you work with?
We work with all major cloud accounting platforms including Xero, MYOB, QuickBooks, and Sage. Our KPI dashboards and reporting can integrate with your existing tech stack.