VIRTUAL CFO

Customised Financial Pathway to Tech Companies, SMEs and Startups

Need for a CFO

In our experience with various start-ups and small companies, the majority of the organizations have an Accounts Head but lack a dedicated Finance Head (CFO). While this may be perceived as a minor detail, its significance in determining the trajectory of any company cannot be overstated. While the presence of an Accounts Officer is important for the management of day-to-day transactions, the strategic acumen brought by a CFO is indispensable.

CFO's services are more about envisioning financial roadmaps, optimizing cash flows, and conducting precise working capital management. It's a gap that's often overlooked, and it can make all the difference in a company's trajectory. Many startups falter not due to any lack of ideas, but because of financial mismanagement.

What are Virtual CFO Services?

Virtual CFO services are remote delivery of accounting services and professional financial management.

This helps Small & Medium Businesses that cannot afford to employ a full-time Chief Financial Officer to take care of their businesses and guide them strategically to develop and grow through real-time data for informed decision-making.

Why Choose Us?

We are a Chartered Accountant firm registered with ICAI, but our services differ from the average firm.

Our focus is on assisting companies with the operational and reporting aspects of accounting on a monthly basis, rather than on an annual basis.
We maintain a working relationship with our clients and act as their virtual finance team, ensuring that all aspects of their accounting cycle and reporting are taken care of each month.
Running a startup company can be challenging, especially in the technology or creative sectors. You started your business to follow a passion or talent, but you also have to manage finances, funding, and accounting. As your financial co-pilot, we make all of that easy.
We have developed several solutions to meet our clients' needs. Our range of service options allows you to find the level of support you require. If you're uncertain, you can benefit from our 1-on-1 expert calls to get the answers you need.
We are experts in multiple accounting software platforms and apps, and we can help you choose the most suitable ones for your business.

A Snapshot of Virtual CFO Services

Book-Keeping and Reporting

MIS Reporting
Revenue Statement
Profit & Loss
Balance Sheet
Cashflow Statements

Accounts Receivable

Customer Master Maintenance
Managing Contracts and Sales order
Order Management
Invoicing, Cash & Collection Processing
Credit Control Check
Period End Processing
Client Reconciliation
Revenue Assurance Audit

Accounts Payable

Vendor Master Maintenance
Vendor Contract Renewals
Payment Processing
Expense Processing and Payment
Bill Processing
Period End Processing
Document Management
Vendor Reconciliation
Disbursement Audit

HR & Payroll Management

Assistance in Recruitment and Termination processes
Payroll Administration
Payroll Processing
Payroll Delivery
Monthly Payroll Review & Confirmation Before Filing
Tax Filings and Year End Activities

Statutory Compliances

Regulatory Payments & Filings
Tax Payments & Filings
PF, Pension Fund, ESIC & Gratuity Reporting

CFO Analytics

Revenue Analysis
Expense Analysis
Controls Analytics
Working Capital Analytics
Financial Ratios
Operational KPIs
Customer & Product Profitability
Demand Forecast
Cost Analysis
Cashflow Analysis

Our Service Packages

Frequently Asked Questions

What is the difference between a bookkeeper, a controller, and a CFO? Which one does my business need?

We think of a “Virtual CFO” as almost everything in one. The benefit of having a virtual CFO is that you are technically getting someone (or a team) that will provide each level of service for you. Typically, a full finance team would look like this:

Bookkeeper: manages the day-to-day bookkeeping, runs payroll, processes payments, and closes the books each month.
Controller: manages the bookkeeper, reviews and oversees the financial processes, manages cash, and has full control of the finance function of the business
CFO: manages the Controller, reviews financials, offers strategic support on budgeting, forecasting, and growth opportunities

Depending on the Virtual CFO package you go with, you could potentially get a small piece of each one of these roles. However, usually clients will start with a bookkeeper/controller role until they are ready to grow and require more strategic CFO advice.

When do you need a Virtual CFO?

It all depends on where you are at with your business. The idea is to take away the tedious accounting work from business owners so that you can focus on doing what you do best – growing your business! At the same time, understanding where your business is financially is so important when you are looking to grow or plan for the future. We’ve had clients come on board within the first few months of incorporation! The benefit of this is that all the accounting apps and processes are set up right away to create a strong foundation as they grow.

What type of businesses do we provide our services?

Although we specialize in helping tech-based companies (such as SaaS, e-commerce, online services, etc) we generally work with all types of industries. The key is that there is a willingness to move your full accounting process online and into the cloud (if it isn’t already). We are unable to work with any companies using desktop accounting software or that requires someone to work in-house.

How can Virtual CFOs support financial planning?

Virtual CFOs offer financial planning expertise, including budgeting, forecasting, and strategic financial advice. They help businesses make informed decisions to achieve their financial goals.

What compliance support do Virtual CFOs offer?

Virtual CFOs assist with regulatory compliance, ensuring businesses adhere to financial regulations, tax requirements, and reporting obligations.

Can Virtual CFOs help with fundraising?

Yes, virtual CFOs can guide businesses through fundraising efforts, helping them secure capital through various channels such as venture capital, loans, or equity financing.

How exactly can Virtual CFOs scale services?

Virtual CFOs can adapt their services based on the client’s needs. They can handle multiple clients simultaneously, providing customized financial solutions.

What are the strategic advantages of Virtual CFOs?

The following functions of a Virtual CFO are essential for sustainable growth and success.

Developing Financial Strategies, budgets and financial models for decision-making.
Assessing Risks and implementing risk-mitigating strategies. Virtual CFOs bring an objective perspective, free from internal biases. They analyze financial data objectively, offering valuable insights for strategic decision-making.
Overseeing Capital allocation, managing the financial structure of debt, equity and investments management.
Preparing Financial Statements, analysing performance metrics and providing insights to improve profitability and efficiency.
Maintaining Investor Relations by communicating the financial results and growth plans with investors, analysts, and stakeholders.
Strategic Decision-Making by collaborating with other executives to make informed decisions in balancing short-term needs with long-term goals.
Focus on the long-term value creation of the business along with short-term financial management.
Utilizing complex and advanced financial modelling to project outcomes of different strategies and investments, aiding in making data-driven decisions.
Assisting in creating recovery plans, managing cash flow, and finding ways to navigate challenging circumstances during times of economic downturns or unexpected crises.
Developing tax strategies to optimize tax liabilities, taking advantage of relevant tax incentives, deductions, and credits.