Login
About us
Learning
Media
Our Team
Partner With Us
Contact us
Talk an Expert
The businesses which are not having in house CFO (Chief Financial Officer) virtual CFO services are provided to those businesses. In the present scenario many challenges have been faced by the organizations in terms of growth, financial aspects, accounting as well as management. For all these things an officer is to be appointed who can be primarily responsible for managing the financial risks, financial reporting and record keeping as a higher management of the company. Therefore, a virtual CFO is there to meet all the challenges effectively by providing financial and professional advice, analysis and support to the management. Sometimes for small enterprises, startups and SMEs keeping in house CFO can be out of budget, therefore they can think of virtual CFO in order to maintain and manage their finance in a more effective way.
We at BIAT consultant provide such services to many recognised companies. The services include complete oversee of finance, accounts functions, oversight of various financial plans, and also support to the clients team and management.
What is Virtual CFO Services?
FAQ
Common List Of Questioner That Our Customer Ask From Us -Solved !
What is the requirement of having virtual CFO services?
Virtual CFO services help in financial analysis and risk identification. If any business is not interested or is out of budget of hiring in house CFO then they can opt for virtual CFO services. CFO services can be outsourced toa leading consultancy firm which will manage all types of finance related functions of your business. They will help your business in taking it to the next level. It helps in understanding the financial health of a business.
Virtual CFO services will assist you in following ways :
Financial Projections- It provides you various financial projections through income statement and financial statement.
Cash flow projections- It is done to ensure the cash inflow in a company.
Manage Cash Flow- It is important to understand the cash flow management in order to properly utilize it.
Budgeting- Setting budget is a very important step and then evaluating it periodically.
Debtor and creditor Management- It is an important stp in order to mitigate the credit risk.
Setting up an Accounting system- Evaluation of existing accounting system and make recommendations for improvement.
Cash flow projections- It is done to ensure the cash inflow in a company.
Manage Cash Flow- It is important to understand the cash flow management in order to properly utilize it.
Budgeting- Setting budget is a very important step and then evaluating it periodically.
Debtor and creditor Management- It is an important stp in order to mitigate the credit risk.
Setting up an Accounting system- Evaluation of existing accounting system and make recommendations for improvement.
Features of Virtual CFO services
Following are the features of Virtual CFO system-
Maintenance of accounting records- Virtual CFO system helps in maintaining accounting records as per accounting standards.
Financial Analysis- It helps in analysing financials of the company which helps in making decisions for the growth of the business.
Budgeting- Budgeting is again a very important feature of virtual CFO services. It helps in planning cash flows in the business.
Financial Projections- Financial projection is concerned with the forecast of revenue and expenses. It involves predictions of cash requirement as well as resource requirement.
Cash flow projections- It helps in analysing the cash flow of the company. This helps in making plans as per the cash requirement to meet the obligations.
Improve profitability- It helps in reducing wastage of resources.
Risk assessment- virtual CFO identifies the risk and makes decisions to mitigate the risk.
Organizational structure- It makes changes in the organizational structure as and when required for progress of the business.
Growth Plan- virtual CFO manages the financials of the company which helps in growth of the business. Through this it helps in identifying the requirement of funds in the company.
Maintenance of accounting records- Virtual CFO system helps in maintaining accounting records as per accounting standards.
Financial Analysis- It helps in analysing financials of the company which helps in making decisions for the growth of the business.
Budgeting- Budgeting is again a very important feature of virtual CFO services. It helps in planning cash flows in the business.
Financial Projections- Financial projection is concerned with the forecast of revenue and expenses. It involves predictions of cash requirement as well as resource requirement.
Cash flow projections- It helps in analysing the cash flow of the company. This helps in making plans as per the cash requirement to meet the obligations.
Improve profitability- It helps in reducing wastage of resources.
Risk assessment- virtual CFO identifies the risk and makes decisions to mitigate the risk.
Organizational structure- It makes changes in the organizational structure as and when required for progress of the business.
Growth Plan- virtual CFO manages the financials of the company which helps in growth of the business. Through this it helps in identifying the requirement of funds in the company.
What are the main Virtual CFO Services ?
Financial Advisory- Virtual CFO provides financial guidance to the companies on the basis of their needs. A proper financial planning takes business to the next level.
Cash flow forecasting- The other main services of virtual CFO is to forecast cash flows. Businesses must have a better understanding of cash position to make the right decision.
Budgeting- It includes budgeting. It helps in tracking performance of the company and helps the company to grow.
Break Even analysis- In this total cost (Fixed Or variable) is compared with the revenue to determine a point where business neither makes profit or loss.
Accounting functions of the organization- Accounting functions are the integral part of every business. It is a mode which helps in assessment of organizational financial accounting health checks.
Compliances of the various acts applicable- Under this end to end solution will be provided by the virtual CFO as per the provisions of Companies Act, 2013.
Corporate Governance- It makes a balance between the interest of stakeholders, shareholders, management and clients.
Cost management- It helps in proper planning to minimize the cost of the company. Virtual CFO helps in determining the operating efficiency.
Debt Planning- Virtual CFO makes a proper debt planning to achieve the desired goals.
Year end account closure and filing- It ensures the annual filing of financial statements on time.
Audit support- End to end audit support is provided by the virtual CFO by solving queries raised by the auditors.
MIS reporting- Virtual CFO is responsible for providing timely and accurate information regarding the financial health of the company in MIS reports.
Accounting policies and procedures- A well maintained accounting policies helps in enhancement of accountability and consistency in the organization. It further helps in formulating and implementing well defined accounting and management in the organization
.
Cash flow forecasting- The other main services of virtual CFO is to forecast cash flows. Businesses must have a better understanding of cash position to make the right decision.
Budgeting- It includes budgeting. It helps in tracking performance of the company and helps the company to grow.
Break Even analysis- In this total cost (Fixed Or variable) is compared with the revenue to determine a point where business neither makes profit or loss.
Accounting functions of the organization- Accounting functions are the integral part of every business. It is a mode which helps in assessment of organizational financial accounting health checks.
Compliances of the various acts applicable- Under this end to end solution will be provided by the virtual CFO as per the provisions of Companies Act, 2013.
Corporate Governance- It makes a balance between the interest of stakeholders, shareholders, management and clients.
Cost management- It helps in proper planning to minimize the cost of the company. Virtual CFO helps in determining the operating efficiency.
Debt Planning- Virtual CFO makes a proper debt planning to achieve the desired goals.
Year end account closure and filing- It ensures the annual filing of financial statements on time.
Audit support- End to end audit support is provided by the virtual CFO by solving queries raised by the auditors.
MIS reporting- Virtual CFO is responsible for providing timely and accurate information regarding the financial health of the company in MIS reports.
Accounting policies and procedures- A well maintained accounting policies helps in enhancement of accountability and consistency in the organization. It further helps in formulating and implementing well defined accounting and management in the organization
.
What are the services provided by a virtual CFO?
Virtual CFO are provided by professionals in relation to finance, recruiting and human resource solutions
Why should I go for virtual CFO services?
The main purpose of a virtual CFO is to drive the business. It helps management of the business to us on other other business activities of the business.
What will be the process of coordination?
We will assign your order with our experts and they will constantly follow up with you. You just need to provide us timely information for performing functions efficiently.
How long will the process be?
The process will be as long as necessary. It depends upon the needs of the client.
