Finance is an integral part of any business and better management leads to a better growth for the company’s profits which further leads to expansions and investments. Crucial business decisions cannot be made unless management and the board of directors are on the same page. Businesses benefits from dedicated financial management expertise but few can hire such expertise. This is especially significant in light of the large-scale devastation faced by small businesses since January due to pandemic. In such crisis, the Virtual CFO is best positioned to provide financial assistance to such affected business.

Virtual CFOs provide top level guidance just when you need it, offering amazing value and cost savings to companies concentrated on growth and long-term success. The role of the CFO in business re-openings plans cannot by neglected. Here are some primary areas that CFOs oversee, including virtual and part-time CFOs:

  • Cash flow management and cash flow forecasts
  • Regular financial results interpretations
  • Identifications of key metrics and indices to monitor growth or to trim trouble areas
  • Strategic planning and investment decisions

Benefits of Virtual CFO

  • Monitoring business: The role of a CFO is not restricted to overseeing financial management but also looking after the health of financial operations, providing guide who can assess the business, its readiness, and its strengths and recommending appropriate ways to ensure sustainability and successful growth.
  • Accurate Reporting: The company finance team or book-keepers may need some additional senior level support. Virtual CFO support to bridge gap between financial issues faced by the company and reporting financials and making decision with utmost confidence.
  • Risk management: The company business is an asset that needs to be protected from any potential risk that may threaten its ongoing success. A virtual CFO can undertake a risk assessment and ensure that the company is investing wisely, have appropriate insurance and that the company’s sensitive data, equipment and inventory are secured
  • Cost-effective Expertise: A virtual CFO is cheaper than a full-time CFO. Virtual CFO is highly recommended for moderate business budget. Working remotely will hardly affect the quality of performance delivered.
  • Brings in more Expertise: Virtual CFO services in India selectively include fundraising, manage finance, participate in board meetings and mergers and acquisitions including Virtual CFO solving more challenges and raised more funds for more organization while working into diversified industry.

Staying on top of their company’s financial management is a struggle for many business owners, who spend much of their time attending to customers and profit-generating activities. The virtual and part time CFO can also navigate a startup towards vital professional assistance. Small businesses, yet to recover from the pandemic, can tap into CFO assistance services by outsourcing requirements at a lower rate than hiring an in-house resource.

Resource by: https://uberant.com/article/1331629-how-does-a-virtual-cfo-help-in-the-growth-of-your-business?/