Many Business have an in-house team of finance
and accounts but do not have an in-house CFO, a finance partner in their growth
journey. A virtual
CFO help them on various financial challenges, navigating
through them efficiently, instituting financial processes and providing
professional advice, analysis, and support to the management.
Hiring full time CFO could be expensive proposition for many,
however, taking professional financial guidance is of prime importance to your growth
and stability. Virtual
CFOs normally provide advice over managing finance and
accounting, compliances, corporate governance, reporting and strategic advice.
A virtual CFO guides
as a financial mentor for a business’s financial success.
Finance works like fuel for the business and raising investments
in time is a prime most important activity for any business. While investing in
a company, an investor often looks for a dream team, a set of people on whom
they can bet their money and have the faith that the entrepreneurs can execute
the ideas as they have planned.
More often, they give importance to the team over and above the
product description. Since the financials are extremely critical, the business CFO is
given a role which is considered second only to the CEO.
A virtual CFO in India creates a sustainable and seamless process for an entrepreneur’s success.
Investors today are looking for information to be delivered faster and projections which are updated regularly as per changing environments,A virtual CFO today possess skill is sophisticated development and responsible business planning. With the new challenges, it has become imperative for entrepreneurs to hire CFO outsourcing services to help them meet the investors’ expectations and guide the entrepreneur to build a prudent and financially sound company. Investors invest money on people and not the products and having a dependable virtual CFO simplifies this entire process for all the parties involved.
Credibility
A virtual CFO is able to display an entire team to the investor while standing with the entrepreneur. Moreover, the CFO’s experience not only helps in tackling the queries and suggestions of the investors but also bring credibility to the company, process as well as the investor. Investors especially in the initial days invest money on people and not the products and having a dependable virtual CFO simplifies this entire process for all the parties involved.
Detailing
CFO’s come from technical backgrounds of finance (CA’s or CFA’s), with skills to look at the financial project in utmost detailing. Good virtual CFOs are those who can read well between the numbers. Virtual CFO’s plan and discuss all major processes in a business as to utilize the funds efficiently and leading to saving money for the company.
Operation Excellence
Raising finance requires having the key operational processes in
place. It is important to install the right amount of process, reporting, and
structure. If overdone, this can slow down the system but if managed well by
the CFO advisors it
can help in operating the business smoothly and grow the engine i.e faster
scaling the organization.
Sound & trusted advice
It is important to keep the internal discussions of the company
within the key members of the company only. A virtual CFO is a trusted advisor
to the CEO and other executives. Running a business is a lonely journey and
the CFO advisor can
be a key objective source of advice and council to make big or small financial
decision.
Jack of all trades
A virtual CFO may require to play other roles in the fundraising
process and support the entrepreneur while pitching to the investor. Usually,
this role goes beyond finance for the CFO and they need to justify plans on
behalf of HR, technology or marketing teams as well.
A virtual CFO in India creates a sustainable and seamless process for an entrepreneur’s success.
Investors today are looking for information to be delivered faster and projections which are updated regularly as per changing environments,A virtual CFO today possess skill is sophisticated development and responsible business planning. With the new challenges, it has become imperative for entrepreneurs to hire CFO outsourcing services to help them meet the investors’ expectations and guide the entrepreneur to build a prudent and financially sound company. Investors invest money on people and not the products and having a dependable virtual CFO simplifies this entire process for all the parties involved.