Steve Darnell - Director, VFD Pro Ltd
MTD, AI, and FinTech are increasing the rate of change in the accounting profession.
Accountants are typically their clients ‘Most Trusted Advisor’, looking to the future the role of the accountant will inevitably change. Businesses need and want more support, to help them be more successful, increase profit and equity value, and increase employment.
Access to their client’s data provides open-minded, forward-looking accountants with a unique opportunity to dramatically improve the success of any business, (provided they have a viable ‘value proposition’).
The VFD and related ecosystem create a fantastic win-win opportunity because it taps into the unmet need and delivers huge added value for clients, accountants/business advisors and quality B2B service providers alike.
VFD Pro help progressive accountants who want to help business owners be more successful, creating more employment and delivering superior products and services.
For most business owners, their accountant is the only Trusted Advisor they have, one who uniquely has access to their financial data and is hence in a unique position to assist.
Business owners struggle to grow and fail due to a lack of management knowledge, lack of suitable financial and other management information and poor or late decision making.
Accountants can help their clients overcome these challenges in many ways, but the Virtual Finance Director (VFD-Pro), helps in several specific ways:
Providing clients with valuable management and opportunity exception reports. A historic statement showing profit and loss and balance sheet may provide useful information, but they provide limited data to support effective decision making.
Financial guidance and advice: VFD Pro provides all the reports the accountant or their client could ever want. But the average business owner still needs advice and guidance to help them interpret and act, in much the same way as the more sophisticated business needs a Financial Controller, Finance Director or a Chief Financial Officer.