Virtual CFO Services in India
Superior Skills & Experience, On-Demand
at Very Affordable Rates
The Chief Financial Officer’s (CFO) responsibility in a business is critical because they are fully responsible for a company’s financial management, usually supported by a strong team of accountants and bookkeepers.
They report directly to the CEO and the board of directors in large companies and are often second in command to the CEO in most large corporate structures. They frequently earn six-figure incomes with generous benefits packages. So, they are certainly not an average accountant.
They also have many other responsibilities which fall under four broad headings:
- Their most important task is to oversee the veracity and completeness of the company’s business accounting information, which is the data that forms the basis for the company’s Audited Financial Statements. The CFOs job requires sharing data with senior management teams to ensure all their decisions a foundation of accurate information, which has been scrupulously reviewed and analyzed.
- It’s also the CFOs obligation to provide accurate financial data to the CEO, the board of directors, and senior management. This information will include in-depth analysis and the potential impact on the company, as well as regulatory requirements of any decisions they make.
- One of the primary areas a CFO is responsible for is compliance, which includes tax calculations, payments, mandatory government fiscal reports, public financial announcements, and reports to shareholders. This is a very complex and critical area that traditionally takes up a large proportion of a CFOs calendar.
- At every level of management in a large company, informed decisions are only possible if they have a foundation in the CFOs current financial data. It is the CFOs responsibility to decide who can access the data to ensure its security.
Most small and medium-sized businesses can’t afford a full-time CFO, especially in the early stages of building the company; however, that’s the point at which a business needs the best possible financial direction. Push Digit’s Virtual CFO Service is a fantastic opportunity for every company, no matter what size, to have the benefits of an on-board CFO at an affordable hourly rate when you need it most.
What Will a Virtual CFO Do for my Company?
Push Digit’s Virtual CFO will:
- Create business strategies to enhance the vision and goals of your company.
- Guarantee your business complies with all regulations, statutes, and policies.
- Review the global economic outlook. Initiate cost savings by introducing automation and Artificial Intelligence (AI). Push Digit’s Virtual CFOs are all highly skilled technically, with the knowledge to assess and introduce new systems to improve productivity and the cost-effectiveness of your business.
- Minimize and remove hurdles in your drive for change by incorporating new technologies like cloud-based ERP software.
- Deliver and present consistent, precise financial data with proposals for operating and strategic levels of your company.
- Frequently take the financial ‘pulse’ of your business and counsel business management on the consequences of all company financial actions.
- Initiate tactical management procedures. Coordinate and integrate the actions of all areas of your business to focus on achieving the company’s long-term objectives.
- Manage cash flow liquidity to ensure you always meet your commitments.
- Evaluate in-depth potential mergers or acquisitions and provide proposals with detailed financial modeling, using sensitivity analysis.
- Review the accuracy and completeness of your business accounting data, which is the foundation of the company’s Audited Financial Statements.
- Review, analyze, and interpret the company’s financial data for managers, the board of directors, and relevant shareholders.
- Review and analyze your company’s financial control processes. Identify and improve at-risk areas by changing the access protocols or changing them.
- Review and analyze the company’s historical financial information, compare the data with current results and future projections to manage risks, and identify potential new business opportunities.
These are a few of the benefits you will enjoy from having a Virtual CFO on board.
How Does it Work?
A virtual CFO can be available to match your specific needs and budget, and you can contract them annually to hourly and anything that suits you in between.
Push Digit’s virtual CFOs are highly experienced, qualified Chartered Accountants and financial specialists with expert level knowledge accrued while working in large organizations around the world.
The essence of their experience will deliver knowledge and an edge to your business by mentoring and guiding you, building your skills to help you achieve your company goals.
What do They Offer?
Virtual CFOs will work with you to make your business more vigorous and efficient, and above all, help to minimize your business risks by bringing their expertise into your company.
Improving Profit Potential
Your business will benefit by having a financial specialist on board who will stabilize your eagerness to go after every new idea. Your CFO will present detailed expert analysis of your proposals then work with you to choose the openings which offer the highest opportunities for profitable growth and success.
Monitoring the Cash
Cashflow is the lifeblood of every business no matter the size because, without cash, even very profitable companies can fail. The virtual CFO will assess your business, detect weak areas, and eradicate them or develop systems to ensure your cash keeps flowing on time in the future.
Funds for Growth
If you are seeking opportunities to grow your business, a virtual CFO will assist with building strategies to bring in the best financing opportunities to fund your business. They will establish what is right for your company.
CFOs are experts in judging your company’s financial health and on that baseline, forecasting its future. It’s not conjecture but skilled analysis and accurate forecasting based on valid data, which will give you a snapshot of your potential and how it will look.
How to Plan Your Exit
Perhaps your long-term plan is to sell your company and retire or start a new venture. Your virtual CFO will help you plan your exit to ensure you get the best return for your efforts. They will advise you on the best timetable and plan for your exit and sale.
But Wait, There’s More …
These are only a small sample of what a virtual CFO could do for your business and using every minute you have working together; you will develop skills which will benefit you through the rest of your business life.
They can offer guidance on tactical planning, advice on managing buyouts, mergers, or the disposal of assets, as well as assessing your business plans and their weaknesses or problems. Your virtual CFO can even act as liaison between you and your investors, which is considered part of a CFO’s role.
They can work with you and your board of directors, have input on significant business decisions, prepare and deliver financial reports. They can create budgets and financial predictions, plans and undertake reviews of all your business activities then report back to you on any specific issues which require attention. Your virtual CFO can also communicate with and report to your investors.
Your virtual CFO is accessible to you 24/7/365 anywhere in the world using Push Digit’s video Conferencing suite. Your virtual CFO can be alongside you in the room for meetings, presentations using a large screen and digital projector. No matter where you are, your virtual CFO can be right there with you as though they were in the same room.
Can I Afford It?
The cost of an in-house CFO can be $160,000+ a year plus all the additional costs that go along with a senior appointment, but those costs won’t apply to you. All you will pay for is the experience, skills, and knowledge your virtual CFO brings to you. He or she will be available to you according to your needs, and the costs will apply in line with that.
The bottom line is that you could save between 80% and 90% of a full-time professional CFOs regular cost. Money you can reinvest in your business to enable it to grow and flourish.
Imagine being able to email or call your CFO with a question, whether it’s a simple or a complex issue, then getting a direct response with the answer shortly afterward?
The answers you’ll receive will be correct and based on your CFOs long experience and knowledge. That surety means you get on with other pressing things instead of being stuck, which is a direct benefit to your business. Time saved is money saved.
Doesn’t that sound like the right way to go?
Contact Push Digits now to discuss your specific requirements in detail and give your business a boost with your Virtual CFO.