- What is CFO?
The Chief Financial Officer (CFO) plays a multi-faceted role in a Company. The responsibilities of CFO are not limited to only finance management and bringing in the highest return on capital. Rather, the CFO in modern times needs to balance the pyramid of books of accounts, return on capital along with performing all the critical routine tasks of the Company. Whether your enterprise is a smaller one or a medium one, it must have a CFO that would increase the efficiency of the Company.
- SMEs and CFO
Not every organization can afford to have a CFO. For every SME, capital optimization is of the highest importance. Bearing the cost of a knowledgeable and experienced CFO may not be possible for a small company. At the same point in time, it is quite essential to have one to survive in this era of cutthroat competition.
- VCFO- The way-out!!!
The virtual Chief Finance Officer (VCFO) is the ultimate solution for that. We, At Especia Associates LLP, are one of the Virtual CFO Services providers in Delhi, Noida, Gurgaon & other parts of India. All the small, medium and new startups wishing to seek the services of a CFO can avail all such services through VCFO at an optimum cost to the company. The VCFO not only gives the traditional and basic services of the CFO but also provides the strategic financial skills that would take the company to the next level.
- Advantages of a VCFO
If you are confused about whether to hire one or not, here are the benefits of having a VCFO for every SMEs:
The first and foremost benefit of having an Outsources CFO is that it is indeed a less expensive option for every business enterprise. The company has to bear the fixed expenditure for a full-time CFO which at an early stage of business may not be feasible. On the other hand, a VCFO is being paid only for the services so rendered by the company. Also, quite unlikely, to the regular expenditure of an employee such as bonus, perquisites, and hikes in salary, the VCFO shall charge you only when you avail the services which make your cost a variable expenditure reducing the fixed expense of the enterprise.
- Intelligence At Your Fingertip
The virtual world has made every service available at a fingertip. Your VCFO brings all the financial intelligence at your fingertips. Starting from the conventional book-keeping to achieving revenue goals, the VCFO would give it to you just on the tap of your finger.
- Pay Only For What You Use
When you hire an experienced CFO for your start-up, you will have to pay him a handsome amount even if you do not have much to do in the business at an initial level. That's where the VCFOs differ. You will be provided with various packages and services options based on which you will be charged. In other words, you are paying for only what is served in the platter.
- Richer The Experience, Better The Services
The companies providing VCFO holds the team of CFOs having multiple industry and companies in the portfolio. This would benefit the small and medium companies as they get to explore various strategies that otherwise would not have opted for. Although the VCFOs appointed are industry-specific, you still get the opportunity for multilayered insights and networks before formulating any policy or plan of action.
- The Team Of Cfo At Your Service
When you have hired a CFO, your company is likely to follow the thought process of individual personnel where the chances of getting different opinions and choosing the best out of them become minimal. However, when you have hired the virtual services, you get a full team of CFO who will bring the best to you after putting heads together.
- User-Friendly Documentation
The CFOs generally follow their conventional style of data reporting and formatting which may be difficult to understand and adopt. However, being the Virtual CFO, the utmost efforts are being put to make all the documentation, reporting and formatting user-friendly which are easily adaptable to the clients.
- Easy To Mix With The Existing Team
The VCFOs has worked with numerous personalities which leads them not to bump into others' horns. Rather, they have expertise in working with different types of people in a harmonious manner bringing coherence in the organization.
- Wide Network
Most of the Companies providing services of VCFO have experienced CFOs having robust connections in the market. Such wide networking will give you the best deals for raising funds, financing, leveraging and such other assistance availing which would otherwise be an uphill battle.
The benefits of Best Virtual CFO Services & CFO Services are countless. However, there are a lot of misconceptions prevailing in the market, it being the unconventional way for business.
Nonetheless, it is a rapidly growing concept which should be adopted by not only SMEs but all the sizes and types of industry.
Don't believe us? Try it yourself!!