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Virtual CFO Services (VCFO)

Why Virtual CFO ?

Before we deliberate on the need for “Virtual CFO”, we must understand the difference between an ‘Accountant’ and ‘CFO’. Accountant & CFO have many similarities as they both deal primarily with company finances. The difference lies in the level of professional education, training, experience & most importantly their ability to see the big picture.

In the context of a small or medium  sized business, an individual may be acting as CFO but designated as accountant. We must not be confused by the designation, here we are discussing the roles not individuals. From business point of view it is more important who is acting as a ‘Pro-active Business Advisor’ and who as a ‘Re-active number cruncher’.

CFO as a role implies that the person should have the quality of a strategic leader and ability to leverage ever-advancing technology  to help your business  unleash it’s true potential.

 

To illustrate the point, we have borrowed from an unknown source, a graphic presentation of “A modern view of CFO’s office”, which is self-explanatory ~

Specially for a growing organisation, the role of CFO is inevitable. It is also obvious that having a Full-time CFO is the ideal choice for any business, but the issue is whether the scale of operations justify the cost?!

 

Here are some reasons why hiring services of virtual CFO is  more feasible choice for you as Small or Medium sized business ~

  • You get the benefit of accumulated knowledge & experience and a single strategic decision might payback the cost of entire year in an instant.
  • Full time CFO might leave you at any time, you don’t need to worry about it as your Virtual CFO is a corporate entity and will remain with you as long as you want.
  • Savings of the hidden costs of an inexperienced accountant which can often be quite significant.
  • Significant cost advantage (i.e. For a fraction of the cost of one having on your payroll).

 

“Virtual CFO is available to you 24/7, you pay only when you utilise”

We offer complete range of CFO Services to clients across the globe, preferably in virtual mode, except in case of projects requiring occasional onsite presence. Our services are detailed as follows:

Total or Partial responsibility of Finance & Accounting functions:

 

Accounting, Payroll & Time Tracking

You may outsource your complete accounting, payroll & Time Tracking to us, including-

  • Implementation of new accounting application
  • Cleanup of your existing books of accounts
  • Migration from your current system to any new application (including Payroll & Time)
  • Time tracking & Weekly / Monthly Payroll processing
  • Monthly/Weekly Billing to Customers
  • Banking & Account Reconciliations
  • Assets / Inventory management
  • Month closing for performance review
  • Annual Closing & Coordination with your Auditor /Tax Consultant
    1. Strategic Financial Management, Budget & MIS
      • Development of Key Metrics for performance monitoring
      • Development of Business Plan & Financial modeling for Strategic Budgeting
      • Design & Implementation of an effective, Action-oriented management reporting (P&L, Balance Sheet & Cash Flow)
      • Conducting monthly Business Review meetings with your key team members
      • Quarterly Reviews of Budgets & Revisions

 

 

SAP & other ERP Systems support Services

Most organizations fail to realize the full potential of SAP ERP after the implementation. Because of our vast exposure to this area, we understand the reasons, the dos, and don’ts. We offer hand-holding from the very inception of the idea of ERP implementation. Our services include-

      • Selection of right ERP solution & Payback analysis
      • Subject matter expertise & assist organizations to realize the full benefit of functionalities available in the system.
      • Project management from the client-side & coordination with the implementors.

 

 

Specialized CFO & other Services

      • Development of Policy & Procedures for the business
      • Easy-to-use Delegation of Authority manuals
      • Conducting workshops & Corporate Training on finance for Non-finance managers
      • Training finance staff on advanced use of Excel
      • Finance & Accounting Talent Acquisition.

 

Note: Due to our hands-on experience, we can work on almost all the cloud-based Accounting / ERP Systems & apps.

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