Setting the Foundation: What is the Goal of the First Quarter?
Hiring outsourced CFO services provides more than financial oversight. The first 90 days set the tone for long-term strategic impact. A Virtual CFO focuses on understanding your business, identifying immediate financial opportunities, and establishing systems that support sustainable growth.
The goal of the initial quarter is to establish clarity, create a single source of truth for all financial data, and build processes that enable strategic decision-making. A structured roadmap ensures that the business transitions smoothly from reactive bookkeeping to proactive financial management.
Month 1 (Days 1-30): Deep Dive, Diagnostics, and Quick Wins
The Financial Health Audit: Uncovering What’s Really Going On
The first step involves a comprehensive financial health check. The Virtual CFO examines cash flow for builders, existing budgets, bank reconciliations, outstanding invoices, and historical profit margins.
Identifying financial strengths and weaknesses early allows management to prioritise action items. This audit ensures there are no hidden liabilities, overlooked payments, or compliance gaps that could impact business stability.
Cleaning the Books and Establishing a Single Source of Truth
Accurate, centralised data forms the foundation for all future financial planning. The Virtual CFO consolidates records across accounting software, spreadsheets, and manual processes.
Establishing one source of truth eliminates errors, prevents duplication, and improves reporting accuracy. Integration with platforms like Xero ensures that all transactions are automatically recorded and reconciled, making future analysis faster and more reliable.
Identifying Immediate Cash Flow Improvements
Cash flow challenges often emerge in the first month. The Virtual CFO evaluates accounts receivable and payable, identifies overdue invoices, and reviews supplier payment terms.
Quick wins may include negotiating better payment schedules, streamlining subcontractor payments, or identifying cost-cutting opportunities without compromising project delivery. Immediate improvements protect working capital and create breathing space for strategic initiatives.
Month 2 (Days 31-60): Building the Systems for Strategic Insight
Implementing Cash Flow Forecasting and Budgeting Tools
Cash flow forecasting models help management anticipate peaks and troughs in revenue and expenditure. The Virtual CFO implements forecasting tools tailored to the business’s project timelines and payment cycles.
These tools provide real-time insights into funding needs for labour, materials, and subcontractor payments. Forecasting reduces reliance on emergency financing and ensures that businesses remain agile during project fluctuations.
Defining Your Key Performance Indicators (KPIs)
KPIs provide the metrics to measure financial health and business performance. The Virtual CFO sets up a KPI dashboard that tracks leading and lagging indicators.
Examples include gross profit margin, cash conversion cycle (CCC), and debtor days. Monitoring these metrics enables management to take proactive measures before financial issues escalate.
Establishing a Monthly Financial Reporting Rhythm
Consistent reporting is vital for transparency and informed decision-making. The Virtual CFO introduces a monthly reporting rhythm, including budget vs actual analysis, project profitability summaries, and cash flow statements.
These reports allow business leaders to track performance, spot trends, and respond quickly to deviations. A clear reporting rhythm builds confidence in financial decision-making across the organisation.
Month 3 (Days 61-90): From Insight to Action and Growth
Your First Strategic Advisory Board Meeting
The final month focuses on strategic planning. The Virtual CFO leads the first advisory board meeting, presenting insights from the financial health audit, KPI dashboard, and cash flow forecasting.
Discussions centre on growth opportunities, investment decisions, and risk management. This collaborative approach ensures that the financial strategy aligns with business objectives and stakeholder expectations.
Businesses that leverage expert guidance from Metis Consulting’s business advisory services benefit from actionable strategies that drive measurable results. Explore how our clients achieve sustainable growth and operational success by visiting our success stories.
Scenario Planning: Modelling Decisions Before You Make Them
Scenario planning allows businesses to evaluate “what-if” situations. The Virtual CFO models the financial impact of major decisions, such as hiring new staff, expanding operations, or taking on large projects.
These models inform strategy, reduce risk, and allow management to make confident decisions. Scenario planning transforms financial data into actionable insights that support business growth.
Building the Financial Framework for a Scalable Business
By the end of 90 days, the Virtual CFO has implemented systems, dashboards, and processes that support scalable operations. The business gains clarity on cash flow, profitability, and long-term funding needs.
This framework enables management to focus on core business activities while relying on financial insights to drive strategy, rather than reacting to immediate issues.
Beyond 90 Days: Your Virtual CFO as a Long-Term Strategic Partner
A Virtual CFO provides more than temporary oversight. Beyond the first quarter, the focus shifts to continuous improvement, scenario planning, and strategic financial management.
Long-term engagement ensures proactive cash flow management, refined KPI tracking, and ongoing support for decision-making. The CFO becomes a trusted advisor, helping the business adapt to market changes, optimise working capital, and achieve sustainable growth.
Benefits of Ongoing Virtual CFO Support
- Strategic Financial Management: Continuous guidance to align financial and business advisory decisions with business objectives.
- Cash Flow Forecasting: Advanced models that anticipate funding needs and optimise capital allocation.
- KPI Monitoring: Regular review of metrics such as customer lifetime value (LTV), gross profit margin, and CCC.
- Budget vs Actual Analysis: Insight into financial performance, enabling course corrections before problems escalate.
Ongoing oversight provides confidence and transparency, allowing management to make decisions based on accurate, up-to-date financial data.
How Businesses Gain a Competitive Edge
Companies that implement outsourced CFO services gain clarity and foresight. Access to timely financial insights reduces risk, improves cash flow management, and allows smarter investment in growth initiatives.
A structured first 90-day plan ensures that businesses quickly move from financial uncertainty to strategic decision-making. The combination of forecasting, KPI dashboards, and scenario planning creates a foundation for scalable, profitable operations.
Unlock your business’s competitive edge today with Metis Consulting. Speak with our expert Virtual CFO team to implement a 90-day roadmap tailored to your growth goals. Contact us now.
