--- title: Pros and Cons of an Outsourced CFO description: Pro’s and Con’s of an Outsourced CFO image: https://info.cfodynamics.com.au/hubfs/Blog%20Graphics/Blog%20Post%20Featured%20Image%207-2.png --- [Virtual CFO Services](https://info.cfodynamics.com.au/blog/tag/virtual-cfo-services) # Pros and Cons of an Outsourced CFO 13 April 2023 In this video, we explore the pros and cons of your business engaging with an outsourced CFO provider. ## **Pros of an outsourced CFO** ### 1. They're more cost efficient. Simply put, a virtual CFO is unlikely to cost the same or higher than employing someone internally, which is typically upwards of $200,000 per year. ### 2. They bring a broader perspective. Virtual CFOs work with a diverse range of businesses. They can bring ideas that worked in one particular business or industry they were involved in, and implement the same winning principles and concepts in your business. They can also ensure that your business does not go through the same challenges they experienced with previous clients or engagements. ### 3. They protect your time. Engaging a virtual CFO allows you and your team to focus on what you do best. Eliminating complex accounting tasks means key decision-makers can get back to winning business, solving creative challenges and nurturing customers. ### 4. They empower the business owner. Unlike internal CFOs bound by employment laws and processes, plus the terms of their contracts, there are no restrictions to remove a virtual CFO. Failure to perform means you can swiftly end their engagement, no questions asked. ### 5. They're motivated to perform. Because of the power vested to owners, virtual CFOs are motivated to give their best by ensuring they deliver value and high-quality work at all times. ### 6. They help your business grow & scale. Owners who are scaling their business may not have access to the required information from their existing finance team. However, a virtual CFO can help provide comprehensive reports, key performance indicators and in-depth insights required to help you grow and scale. ## **Cons of an outsourced CFO** ### 1. They may not be familiar with your industry lingo. Outsourced CFOs may initially face constraints as they might not be familiar with industry specific lingo. However, financial information is consistent no matter the industry, and principles and concepts remain the same across every type of business they work with. ### 2. They're not always there to push your team. Unlike an internal CFO who has easy access to your team and is always there to push them, a virtual CFO doesn't have this benefit. Your team can say that they agree with the virtual CFO during a meeting, but they know that the virtual CFO will not be physically present all the time to follow up. ## Related insights [Explore All](https://info.cfodynamics.com.au/blog) [![Pros and Cons of an Internal CFO](https://info.cfodynamics.com.au/hs-fs/hubfs/Blog%20Graphics/Blog%20Post%20Featured%20Image-Aug-08-2023-01-54-03-6558-AM.png?width=352&name=Blog%20Post%20Featured%20Image-Aug-08-2023-01-54-03-6558-AM.png) ](https://info.cfodynamics.com.au/blog/internal-cfo-pros-and-cons) 13 April 2023 ### [Pros and Cons of an Internal CFO](https://info.cfodynamics.com.au/blog/internal-cfo-pros-and-cons) [Virtual CFO Services](https://info.cfodynamics.com.au/blog/tag/virtual-cfo-services) [![Pros and Cons of a Tax Accountant Doing CFO Work](https://info.cfodynamics.com.au/hs-fs/hubfs/Blog%20Graphics/Blog%20Post%20Featured%20Image%204-1.png?width=352&name=Blog%20Post%20Featured%20Image%204-1.png) ](https://info.cfodynamics.com.au/blog/tax-accountant-doing-cfo-work-pros-and-cons) 13 April 2023 ### [Pros and Cons of a Tax Accountant Doing CFO Work](https://info.cfodynamics.com.au/blog/tax-accountant-doing-cfo-work-pros-and-cons) [Virtual CFO Services](https://info.cfodynamics.com.au/blog/tag/virtual-cfo-services) [![How They Differ: Outsourced CFO vs Internal CFO vs Tax Accountant](https://info.cfodynamics.com.au/hs-fs/hubfs/Blog%20Graphics/Blog%20Post%20Featured%20Image%207-1.png?width=352&name=Blog%20Post%20Featured%20Image%207-1.png) ](https://info.cfodynamics.com.au/blog/outsourced-cfo-vs-tax-accountant) 13 April 2023 ### [How They Differ: Outsourced CFO vs Internal CFO vs Tax Accountant](https://info.cfodynamics.com.au/blog/outsourced-cfo-vs-tax-accountant) [Virtual CFO Services](https://info.cfodynamics.com.au/blog/tag/virtual-cfo-services) ## Refocus your finance goals with CFO Dynamics [ Book a free consultation → ](https://info.cfodynamics.com.au/discovery-session) ![cta-person](https://info.cfodynamics.com.au/hubfs/cta-person.svg) × ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Admin", "url" : "https://info.cfodynamics.com.au/blog/author/admin" }, "dateModified" : "2023-08-08T07:52:16.469Z", "datePublished" : "2023-04-13T09:28:00.000Z", "headline" : "Pros and Cons of an Outsourced CFO", "image" : [ "https://info.cfodynamics.com.au/hubfs/Blog%20Graphics/Blog%20Post%20Featured%20Image%207-2.png" ], "mainEntityOfPage" : { "@id" : "https://info.cfodynamics.com.au/blog/outsourced-cfo-pros-and-cons", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://info.cfodynamics.com.au/hubfs/logo.svg" }, "name" : "CFO Dynamics" } } ``` ```json { "@context" : "https://schema.org", "@type" : "VideoObject", "caption" : { "@type" : "MediaObject", "contentUrl" : "https://info.cfodynamics.com.au/media-transcripts/85542173083/en.vtt", "inLanguage" : "en", "name" : "en Captions" }, "contentUrl" : "https://21974218.fs1.hubspotusercontent-ap1.net/hubfs/21974218/Videos%20(BM)/4.%20Pros%20and%20Cons%20of%20Outsourced%20CFO.mp4", "dateModified" : "2025-08-22T04:26:30.264Z", "duration" : "PT3M25S", "height" : 1080, "name" : "Pros and cons of an outsourced CFO", "thumbnailUrl" : "https://21974218.fs1.hubspotusercontent-na1.net/hubfs/21974218/Videos%20(BM)/4.%20Pros%20and%20Cons%20of%20Outsourced%20CFO.mp4/medium.jpg?t=1755836790264", "uploadDate" : "2022-09-20T22:27:00.630Z", "width" : 1920 } ```