HVR's external CFO service gives SMEs access to strategic financial management without the cost of a full-time Chief Financial Officer (typically €80,000–€120,000/year). Available from 4 hours per month, our external CFO works as an integrated part of your management team.

What Is an External CFO?

An external CFO (Chief Financial Officer) is a senior financial professional who works part-time or on a retainer basis for your company. Unlike your accountant — who handles compliance, tax declarations and payroll — the external CFO focuses on strategic financial decisions: where to invest, how to manage cash flow, what your numbers mean for the business, and how to present your financials to banks and investors.

What Is Included

• Financial strategy and KPI definition — identify the metrics that matter for your business and track them monthly
• Cash flow management and forecasting — 12-month rolling cash flow model, early warning on liquidity gaps
• Investor and banking reporting — professional decks and reports for investment rounds, bank financing and board meetings
• Budget planning and variance analysis — annual budget, monthly monitoring, and actionable recommendations on deviations
• Investment and financing decision support — ROI analysis, lease vs. buy, debt vs. equity, grant applications (Portugal 2030, PRR)
• Management accounts — monthly P&L, balance sheet and cash flow in management format, beyond statutory accounting
• Exit and M&A preparation — financial due diligence support, EBITDA normalization, valuation models

Who Needs an External CFO?

The external CFO service is recommended for:

• SMEs with €500,000–€10 million in annual revenue that need strategic financial oversight
• Startups preparing a Series A or growth funding round
• Companies with international operations requiring consolidated reporting
• Businesses where the founder is making major decisions without robust financial data
• Companies preparing for sale, acquisition or management buyout
• Nearshore operations in Portugal needing local financial management

External CFO vs. Accountant — Key Differences

• Accountant: VAT, corporate tax (IRC), payroll, SAF-T, statutory reporting — compliance-focused
• External CFO: strategy, forecasting, investor relations, KPIs — decision-focused
• HVR can provide both functions simultaneously, ensuring seamless integration between financial strategy and compliance

Methodology

1. Financial diagnosis — review of current accounts, KPIs and business model (first meeting, free)
2. Engagement design — define scope, frequency and deliverables; fixed monthly fee agreed upfront
3. Onboarding — financial model setup, KPI dashboard, access to accounting data
4. Monthly cycle — management accounts review, cash flow update, strategic session