virtual CFO Services in Pune

    • Preparation and review of processes and policies
    • Monthly/Quarterly management presentations/board deck
    • Preparation and review of Business Flow Charts
    • Identifying and tracking KPIs through a KPI dashboard
    • Preparing variance analysis on actual vs budget
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Companies have to deal with finances. No company works without finances. Dealing with finances is an essential and major part of any company. 

Whatever the company's business status, finances have to be taken care of with utmost importance. Now, dealing with finances is not an easy task. 

It requires a special authority. Finances in a company are usually catered to by a chief financial officer (CFO). Let's understand what a chief financial officer (CFO) is.

Who is a Chief Financial Officer (CFO)

Chief Financial Officer (CFO) is an officer in a company or an organisation who deals with the company's finances. The basic responsibilities of a CFO include financial planning, management of financial risks, record keeping and financial reporting. 

An added responsibility that may or may not be fulfilled by the chief financial officer (CFO) is data analysis. 

Sometimes, CFO is also referred to as Chief Financial and Operating Officer (CFOO). Also, before reporting to the CFO, people usually finance directors. Finance directors report to the chief financial officer. Finance directors or FD is the level before reaching the CFO. 

Also, suppose you wish to be a CFO. In that case, you must have proper qualifications, which can be a Master of Business Administration (MBA), Master of Science in finance or accounting, CFA or any course inclusive of the finance background. 

Different Types of CFO

The chief financial officer can be of varied types. The financial handling depends on the types of finances, which can hence differ and depending on it, the type of chief financial officer may also have several types. Different types of CFO include the following:

1. Start-up Chief Financial Officer

Start-up chief financial officer is also referred to as a capital raising chief financial officer. We all are aware of the fact that how start-ups are in trend these days. A lot of people are investing in start-ups and are also starting their own. Hence in these cases, one necessarily needs a CFO. 

2. Growth CFO

The growth chief financial officer will only focus on the growth of the company and the related business. The growth CFO is amazing at operational skills and gets less involved with tasks related to fundraising. 

Roles of Chief Financial Officer

  • Liquidity 
  • Return on investment 
  • Forecasting 
  • Reporting 
  • Oversee the organisation's financial activity
  • Being responsible for the finance
  • Perform operational functions
  • Meeting revenue and earning goals 
  • Keeping cash flow stable 
  • Help select skilled and qualified staff for the company’s financial team 
  • Put complex data in perspective 
  • Help the CEO make wise decisions 

Why do you need CFO advisory services?

We all know how hard it is to set up a company from scratch. It indeed requires immense cash to grow further. 

To earn, one needs to invest first. Thereby keeping a look at your finances is crucial in your business. 

Also, when the leader or the CEO of the company is indulged in a lot of work, keeping an eye on finances may not be possible to that extent. 

Hence we need a chief financial officer to keep a stable look at the finances. Also, advise the CEO on where they should invest and keep hold of the cash so that the finances are managed mindfully. 

What are outsourced CFO services?

There is a type of CFO that we may talk about here, which is the outsourced CFO. 

An outsourced virtual CFO is a finance leader of the company that provides financial advice, business, accounting,  and operational guidance for your company's business. 

You don't need to have a permanent CFO. The CFO can be full-time, part-time or interim, depending upon the project's duration. Companies use outsourced CFO for several reasons. 

This can probably be because you are an entrepreneur and you have so much to do that you don't have much time to deal with financing, budgeting, forecasting and analysing financial results. 

You may run a small business and are so concerned with product design, product management, and customer service that you seem less focused on the financial side of your business. Then here CFO comes to the rescue. 

Virtual CFO Services in Accounting

CFO services in accounting are inclusive of the following aspects:

  • Financial controllership
  • Financial planning and analysis 
  • Evaluation of ERP and its implementation 
  • Specialised services
  • Financial statements and audit closure
  • Streamline reporting
  • Controls and compliance 
  • Support valuation activities and funding

Virtual CFO Advisory services in Pune

There are a lot of CFO services. However, there are many more great CFO advisory services in Pune but especia’s virtual cfo services is still at the top.

The CFO advisory services in Pune are much more renowned and skilled. The services are extensively great and amazing.

Conclusion

In conclusion, a chief Financial Officer (CFO) is an officer in a company or an organisation who is authorised to deal with the company's finances. 

Sometimes, CFO is also referred to as Chief Financial and Operating Officer (CFOO). Also, before reporting to the CFO, people usually finance directors. 

Finance directors report to the chief financial officer. Finance directors or FD is the level before reaching the CFO. 

The above-mentioned CFO services in Delhi and Pune will help you get the best consulting firm for your company's financial management.