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  • Boost your business with a Virtual CFO

    By Aditi Sawant     35 Views     May 21, 2018

    Taking informed decisions is extremely important for success & sustainability of every business. Any business decision has a direct or an indirect impact on the top line & bottom line of the company. This impact is tricky to figure out as many factors work in tandem. This is where a business can use the expertise of an on-demand CFO service who can guide the business to take well informed decisions which are backed by data & facts. A Virtual CFO can give an exact cost benefit analysis of any business decision, hence improving the efficiency of a business and being a catalyst for business growth.

    Hiring a virtual CFO can revolutionize business of a SME or a Start-up, it can prove to be a game-changer for most of them. Having a Virtual CFO on board helps a business to concentrate on its core operations and leave the non-core functions of financial management & decision making to professional is a master of this domain.

    The advent of gig economy has made highly professional services & expertise of a CFO available to small businesses & start-ups, which was unheard of a decade ago. Hiring a CFO is no more limited to giant corporates & large organisations, it has become as easy as hiring an Uber.

    Before moving on to roles of a Virtual CFO in your business let us understand everything a virtual CFO is not. A virtual CFO is not a traditional finance professional with a team of accountants, he/ she is not a corporate advisor or an entity providing CA services.

    A virtual CFO is responsible for ensuring that your business maximises its financial advantages and minimises its financial risk.

    A virtual CFO would look beyond the numbers and help the business owners understand their financial information, so they can make informed decisions.

    An on-demand CFO adds credibility to the company and gives stakeholders confidence when someone independent is overviewing financial running of the company.

    How will a virtual CFO aid your business?

    • Management and dashboard reporting

    Setting up a systems or tools in place to give a financial view of how the business is performing, including dashboard reporting, defining key performance indicators (KPIs) – to measure performance, which is regularly reviewed with the owner.

    • Cash flow management & reporting

    Cash flow is the most critical part of success in a business. Virtual CFO will help to implement, update and monitor cash flow forecasting and modelling.

    • Finance process reviews

    Review current finance processes and policies and advising on the same is done by the virtual CFO.

    • Budget and forecasting

    Helping business owners ensure that their budgets drive towards the future direction and goals of the business.

    The meteoric rise of start-ups & SME’s in India over a last few years, has created a huge demand for virtual CFO or on demand CFO services. CFO Bridge is one such organisation that is helping SME’s and start-ups across sectors to grow and meet their business goals.

    Filed Under: CFO Bridge Tagged With: CFO services on demand, Hiring a CFO, Virtual CFO, Virtual CFO Mumbai Leave a Comment     Share on:        
  • Article Written By

    Aditi Sawant

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    You can connect with him on LinkedIn, Twitter, or Facebook View all post by Aditi Sawant

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