Why Do a Company need CFO
- Current generation heading family-run businesses also values role of CFO Private equity firms, want CFO to help them assess a company before they invest in it
- Greater compliance requirements, global accounting standards, changing regulatory environment
- CFOs often have strong relationships with banks and financial institutions, which come in handy when the company negotiates a loan.
- CFOs improve governance, timely compliance and budgeting A virtual CFO empowers the CEO with information –
- for example, a weekly list of debtors and the age of their debt, monthly reports on the profitability of new clients, and quarterly analysis of client revenues for early detection of a downtrend.
- A CFO goes beyond accounts to build a sustainable business model, introduce robust controls, ensure regulatory compliance and raise resources.
- A CFO makes the company funding ready.
- A CFO clarifies cost goals for various departments, and enables the CEO to analyze and allocate profits from individual projects.
- For an engineering client, the CFO sets up costing and cost follow-up systems to monitor the production cycle and identify gaps
Virtual CFO
It is a service that is provided to the businesses who have not appointed an in-house CFO. In the present scenario many challenges are being faced by the organizations in terms of growth, financial aspects, accounting as well as management. For this an officer is required who can be primarily responsible for managing the financial risks, financial reporting, record keeping as a higher management of the Company. Thus a virtual CFO shall be there to meet the challenges effectively by providing the financial and professional advice, analysis and support to the management. It is a true fact that a CFO being one of the recognized management authority is sometimes out of budget for small enterprises, startups and SMEs. Therefore there is a requirement to facilitate the need to have a professional CFO. We provide the service of Virtual CFO, who shall be responsible for managing a business’s finance, accounts, compliances, corporate governance, reporting and also the strategic requirements and many more such functions. The services provided includes a complete oversee of finance, accounts functions, oversight
Virtual CFO Services
- Preparation and explanation of management accounts
- Cash flow projections
- Budgeting – interim and annual
- Overview of Bookkeeping and Month end closes
- Compensation designing
- Debtor and creditor management
- Structural advice
- Project management of the financial component of new ventures
- Compliance management – Corporate, Taxation and Listing laws
- Review and assessment of internal controls
- C-Level Recruitment support and guidance