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Virtual CFO Services

Virtual CFO has crafted a way for small businesses, following which they can get access to an experienced financial professional at an affordable cost. Though, the services of CFO differ from firm to firm.

  • Consulting the Firm
  • Understanding firm’s requirement
  • Keep an eye on the financial health
  • Preparation and explanation of management accounts
  • Cash Flow Projections
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50,000 + Clients

50,000 + Clients

Lowest Fees

Lowest Fees

300+ CA/CS

300+ CA/CS

4.9 Customer Rating

4.9 Customer Rating

Overview of Virtual CFO Services

With the introduction of the concept of Virtual CFO small businesses now receive support that they could not have afford previously. Virtual CFO has crafted a way for small businesses, following which they can get access to an experienced financial professional at an affordable cost. Though the services of CFO differ from firm to firm,

However, following services are common and often rendered to every firm who hire a Virtual CFO:

  • It takes control of all the duties of a traditional CFO, but solely on a part-time basis
  • Keeps an eye on the financial health of the business usually by adopting cloud technology
  • Offer financial guidance and insight to the business on the matters related to finance.
  • Give companies back-office functions which include managing account ledgers, depending on the client and their needs.

Often companies who cannot afford to have in-house CFO prefers to go with Virtual CFO. Organizations deal with many challenges on a daily basis in terms of financial aspects, growth, accounting as well as management. To curb those challenges, a need arises to appoint a Virtual CFO who can primarily be responsible for managing activities like financial reporting, record keeping and financial risks of the company. Presence of Virtual CFO helps in meeting those challenges effectively by giving financial and professional aid, analysis and support to the management.

Growing Face of Accounting

Accounting is experiencing some major changes in the process of its growth; number of firms has increased exponentially who are vying with each other. Small private companies currently have so much decision that standard service like tax preparation, bookkeeping, and compliance are turning out to be commoditised. There's so little differentiation in this packed market that it has affected the market value of these services.

Cloud technology is taking over accounting and is also reducing the basic value of accounting services. Firms who are eloquently using cloud technology to manage their finance and accounting department are more productive and efficient.

Virtual CFO Services

Virtual CFO Services will assist you in the following ways:

Virtual CFO Services will assist you
  • Financial Projections

    With the help of Virtual CFO Service you will get the value of your financial projections through income statement and financial statements.

  • Cash Flow Projections

    Income projection will be done so as to guarantee the cash inflow to satisfy the commitment.

  • Manage Cash Flow

    A proper and organized management of cash flow is essential to comprehend the cash usage.

  • Budgeting

    It is important to set a budget in advance and then indulge in its evaluating process periodically to keep the track of the progress.

  • Debtor and Creditor Management

    To lessen the credit risk debtor and creditor management plays a crucial role.

  • Setting up an Accounting System

    Analysing existing accounting system and suggesting recommendation for any improvement.

Benefits of Virtual CFO Services

Benefits of Virtual CFO Services
  • Helps in Maintaining Accounting Records

    Virtual CFO will help you in maintaining accounting records according to accounting standards. As we know financial statements of any business are created following the norms of the accounting standards as mentioned by the government authority.

  • Budgeting

    An effective and thoughtful budgeting maintains a proper cash flow in the business. Budgeting helps in evaluating the cash requirement by harmonizing the income and the expense.

  • Financial Analysis

    Virtual CFO also helps in decision making process of the organization which ultimately leads to growth of the business. It analyzes the finances and operations of the company by using identification of key operation indicators.

  • Improve Profitability

    Virtual CFO services protect your resources from any sort of wastage. A properly planned and executed strategy improves the overall productivity of the business.

  • Cash Flow Projections

    Cash flow projections give a proper view of the cash position of the company. This helps in drafting a plan which will fulfil the cash requirement of the company to meet the requirements.

  • Financial Projections

    Financial projection is worried about the conjecture of income and costs. It includes forecasts of market factors. It helps in assurance of cash and asset requirement.

  • Key Performance Indicators

    Key performance indicators keep an eye on the current market and financial condition of the company and hence predict the future. Every business has multiple aspects such as production, sales, cash, distribution, cash collections and inventory levels which show the KPIs. The virtual CFO frequently track and analyze such factors.

  • Growth Plan

    Virtual CFO deals with the financials of the organization which helps in development of the business. An appropriate development plan is made by the virtual CFO. It is required to make a development arrangement to recognize when the financing is required in the business.

  • Organizational Structure

    Virtual CFO services have the power to make any changes in the organizational structure of the company as and when needed for the growth of the business.

  • Risk Assessment

    Virtual CFO recognizes risks and makes decisions to curb the level of risk which may influence business over the long haul. This is done to lessen the dangers and improve opportunities.

Important Virtual CFO Services

Important Virtual CFO Services
  • Financial Advisory

    Virtual CFO gives monetary direction based on the need. An appropriate financial planning paves the way for the growth of the business. With this, senior administration can concentrate on the important zones without contemplating the budgetary issues.

  • Break Even Analysis

    Under break even analysis, absolute cost (fixed + variable) is contrasted with the income that will decide a point where business neither makes benefit nor loss. Virtual CFO will help in inferring break even analysis by which organization will have the option to control its costs.

  • Accounting Functions of the Organization

    Accounting services are the significant part of the association. It is a mode which helps in the evaluation of association's monetary bookkeeping health check. Here, accounting health check signifies a total evaluation of the budgetary and accounting part of the association. For this, a prominent expert in the administration is required to set up extensive information identifying with the bookkeeping practices, for example, planning of information, and other accounting policies.

    Planning of different policies and execution of key thoughts are required so as to have a well-defined accounting health check. In this procedure legitimate guidance pertaining to current turnover, benefit, business desires, operational and bookkeeping frameworks and key execution markers are examined and assessed. The business structure, tax proficiency, development forthcoming is likewise considered in accounting health check.

  • Cash Flow Forecasting

    The other fundamental help of the virtual CFO is to forecast cash flows. Organizations must have better comprehension of cash position to take right choice. You more likely than not made appropriate cash arrangements to meet the future commitments. It helps in taking choice with respect to what amount of fund is required?

  • Cost Management

    Cost management is a procedure under which virtual CFO makes a legitimate wanting to limit the expense of the organization. Virtual CFO helps in deciding the working productivity. A variable expense is broke down by the virtual CFO to control it.

  • Audit Support

    Start to finish audit support is given by the virtual CFO by resolving questions asked by the auditors.

  • Debt Planning

    A virtual CFO makes a legitimate debt planning with the aim to accomplish the ideal objective. An appropriate debt planning is important to control the obligation.

  • Budgeting

    Virtual CFO administrations incorporate budgeting. Budgeting is done with the purpose to keep the track of all the operations business is performing. Spending should be explored on month to month or quarterly basis so changes can be made in like manner to meet the end goal.

  • Corporate Governance

    Corporate governance includes all the rules and regulations which a corporate follows. These rules help in striking a balance between the interest of stakeholders, shareholders, management and clients.

  • Compliances of the Various Acts Applicable

    Under this, start to finish arrangement will be given by the virtual CFO according to the provisions of Companies Act 2013, FEMA, Income Tax Act 1961, Contract Act, IPR laws and so on.

  • MIS Reporting

    Virtual CFO is answerable for giving timely and precise data with respect to the budgetary health of the organization in MIS reports.

  • Year End Accounts Closure and Filing

    Virtual CFO guarantees the drafting and annual filing of financial statements on schedule. It additionally guarantees the Income Tax return documenting and GST return filing.

  • Internal Control

    A legitimate direction in regard of development of the organizations by method for streamlined interior control framework helps in proceeded with unwavering quality of the association. An appropriate and precise bookkeeping record, all around educated money related choice, monetary detailing is required as a piece of inner control framework to be viable. CFO of the organization helps in evaluation and execution of these previously mentioned forms.

  • Accounting Policies and Procedures

    For a far reaching structure of interior control in the association, a very much planned and appropriately maintained system of accounting policies helps in upgrade of responsibility and consistency in the organization. Accounting policies and methodology help in planning and usage of well-defined accounting and management in the organization.

Change the Way You Work

To implement a Virtual CFO Service in your organization first you need to implement cloud-based accounting system in your organization and change the way of interaction with your clients.

  • Stop making process-driven services as the centre of your business
  • Provide more consulting services
  • Work with clients in achieving their goal
  • Make healthy professional relation with your clients
  • Give feedback to your clients on the growth of their business
  • Try to become a trusted business advisor

How Corpbiz will help you?

How Corpbiz Will Help You?

Frequently Asked Questions

An Outsourced CFO is a monetary master who gives budgetary system benefits on low maintenance or task premise. An Outsourced CFO can likewise enable an organization to determine difficulties, for example, income issues, raising capital, settling tight edges, executing increasingly effective frameworks, or planning for development.

The principle reason for re-appropriating CFO monetary administrations is to drive development of the business. It helps the executives of the business to concentrate on different business exercises of the business.

Virtual CFO is a professional services firm that provides finance, recruiting and human resources solutions.

Virtual CFO gives on request aptitude. To do that we have exceptionally qualified workers on staff prepared to convey. A staffing office ordinarily puts full-time assets into customer circumstances. They sell that they can perform administrations and afterward staff the work with a temporary worker arrangement or somebody they at that point call. Most money related counselling firms giving staff are of the staffing organization model.

Interim CFOs are finance experts who come in, usually on a full-time basis, typically for one to three months, to help steer a company through a financial crisis, an operations change, preparation for a sale, or the gap between one CFO's departure and the hiring of a new one.

  • It takes control of all the duties of a traditional CFO, but solely on a part-time basis
  • Keeps an eye on the financial health of the business usually by adopting cloud technology
  • Offer financial guidance and insight to the business on the matters related to finance.
  • Give companies back-office functions which include managing account ledgers, depending on the client and their needs.

If you need to develop your business and smooth the way to arriving, you need a Virtual CFO who can direct you through the vital arranging process and recognize clear substantial objectives to be accomplished.

We will allot your request to our expert like CA, CS who will arrange with you on regular schedule. You simply need to give us timely data to performing capacities productively. You will get a special request number to follow the progress of the task. For this, you need to react to our issues on regular schedule.

The procedure will be as long as required; it is totally relying on the need of the customer.

Why Corpbiz

50,000+ Clients Worldwide

50,000+ Clients Worldwide

 

4.9 Customer Rating

4.9 Customer Rating

 

300+ Team CA/CS/Lawyers

300+ Team CA/CS/Lawyers

 

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