Virtual CFO Services
A virtual CFO can assist with the day-to-day operations and management of your business, relieving the burden from your in-house resources. They specialize in providing outsourced accounting, tax preparation, financial statement preparation, and management services for small to mid-sized companies.
Working with a virtual CFO means reducing costs through increased efficiency and freeing up more time from other responsibilities to focus on strategic growth opportunities.
Find out more about our virtual CFO services below!
4 Points You Must Know Before Choosing Virtual CFO
1. Experience:
Before choosing a virtual CFO service for your company, you must check the experience of the professional you are working with.
2. Availability:
It is essential to know the available hours of the CFO, too.
3. Compatibility:
This is a remote service; the technical compatibility of the person also plays a vital role.
4. Cost:
The fee varies from thousands to lacs per month. So, this is also an important factor to be looked upon. But never take a service because it is cheap. Remember that the success of the business depends upon the expertise and experience of the person.
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Our Working Process
Step#1
You meet with us on a Video/Audio call to clarify the details.
Step #2
We will send you a list of requirements.
Step #3
We prepare the documents and get your work done.
FAQ`s About Virtual CFO
1. What is a Virtual CFO?
It is a highly skilled service that is usually required by small businesses and startups. This service may be provided by an individual or an entity.
In addition, a virtual CFO service is an outsourced service that is not full-time and thus, cost-effective for startups and small businesses. By investing in this service, small companies and startups get the high-quality skill of a large company CFO but at a considerable low cost.
And since the finance department plays an essential role in the business of any startup, taking this service frees you from the highly technical financial function.
2. What does a virtual CFO do?
This professional takes care of the finances of startups and small businesses. This person does what an in-house CFO does for large companies. However, the only difference is that the virtual CFO does it remotely.
3. What is a CFO on call?
“CFO on call” is another term used for “Virtual CFO”.
4. What are the benefits of availing virtual CFO services?
The benefits are as follows:
- Cost-Effective – The cost of a virtual CFO is considerably low compared to an in-house CFO. So, it helps in considerable saving of expenses.
- Vast Industry Experience – They generally have extensive experience in multiple industries.
- Rich Network – With their experience working with multiple companies, they have a vibrant network of influential people.
- Handle Any Challenge – The virtual CFO can handle any financial challenge of your company smoothly. Further, they can manage it easily because, in the past, they might have faced a similar challenge in some other companies.
- High Adaptability – Usually, any new employee takes some time to adjust to the existing team. However, this is not the case with virtual CFOs. They are highly adaptable and fit quickly with the current team.
- Standard Reports – Because of their vast experience, they help implement industry-standard MIS reporting systems in your business.
- Financial projections and planning – They are experts in financial projections and financial planning. This is their core expertise area.
- Correct financial decisions – They are more competent in taking the right financial decisions.
- Employee training and learning – Your employees get a chance to learn and be trained under their leadership and guidance.
- Accounting best practices – They can quickly implement the best accounting practices in your company which you might find troublesome if you choose to do it yourself.
5. How much does a virtual CFO cost?
The average cost varies from Rs.35000 per month to a few lacs per month.
