The Government of India has envisioned doubling the Indian economy to US$ 5 trillion in five years. In order to achieve this goal, career opportunities for the young population have been generated and MSMEs and start- ups have the potential to serve as key employment generators. Having worked with numerous MSMEs in various positions, we found that MSME and start-ups face a huge talent crisis in finance function. Finance is the core of all businesses. If finance is managed well, the company can soar to great heights. Also finance is always looked upon as a compliance burden or tax burden. While actually a good financials is what your bank needs to approve that loan of yours or that investor who you want to impress!! Many start-ups in order to save on spends, employ simple accountants and later on get into financial troubles as there was no one to point out issues at the right time.
A CFO or Chief Financial Officer is a person who is responsible for financial planning, tracking cash flow and developing growth strategies based on company’s financial condition. It includes overseeing financial operations, financial reporting and business performance as well. They act as an extended hand to the CEO or business owner.
And because this function is so critical and hard, organisations have to design a good pay packet for CFOs. So, not everyone can afford to have a CFO especially in those early days of uncertainty or till turnover reaches a certain benchmark.
At VirtuVantage Vcfo Consulting, we are a team of experts in financial planning and management. We provide virtual CFO services to businesses. We offer the same expertise and insights into a company’s finances without the added expenses associated with hiring a full time high level executive.
We can help you in MIS reports, cash flow tracking, sales analysis, product profitability, analyzing your balance sheet, establishing and monitoring the budgets, identifying the time bound compliance and informing you regularly so there are no last minute surprises. We also help in specific activities like IPO or ERP implementation or investor presentations.
Our team has considerable experience in serving clients from small to large set up.
Let’s take a closer look at benefits of hiring Vcfo vs hiring a full time in- house CFO:
Virtual CFO services provide thorough budgetary analysis reports based on your business’ fixed budget allocations.
While the VCFO assigned to you acts as your single point of contact, you’re availing the combined knowledge of several highly-experienced CFOs, collectively monitoring your organisation’s budget, cash flow, expenses, and financial risks.