Virtual CFO Services
Outsourced & Virtual CFO Support
Lead By An Experienced Team Of CA and CS
Affordable Virtual CFO Services For SMEs & Startups
Full Package Of Financial Planning & Advisory Services
Part-Time & Full-Time Virtual CFO Support
Focus on managing your business while we run the backend financial and administration tasks for your company
Virtual CFO services are offered to businesses that are yet to assign an internal CFO (Chief Financial Officer). In today’s business setting, organizations are faced with different challenges from their financial conditions, management, accounting, and overall business growth. This task requires a high-ranking administrative officer in the organization whose primary responsibility is to manage the financial reports, accounting, and financial crises of the company. Therefore, a virtual CFO will effectively handle these challenges by providing support, analysis, professional and financial advice to the management. Startups, SMEs, and small enterprises are often unable to afford the cost implications of appointing a top management executive as a CFO, hence requiring the services of a virtual CFO.
Benefits of Virtual CFO Services
Helps in Maintaining Accounting Records
Cash Flow Projections
Key Performance Indicators
Virtual CFO Services at My Valuation
My Valuation’s team of advisory aficionados shall ensure exceptional quality and precision in our Virtual CFO services, arming your business with financial efficiency. As a matter of fact, our Virtual CFO services reach well beyond the general task of bookkeeping. Rather, our philosophy is to set up dynamic processes and controls within the organization to give support it with prudent risk management and seamless day-to-day operations. Our job is to offer supportive advice and incorporate the best practices in accounting and finance for the companies.
Outsourced virtual CFO
Financial advise by expert CA/CS
Financial plan and advisory
Are You A Startup Looking For Virtual CFO Services In Bangalore or Pan India?
At My Valuation, we have assembled an experienced team of CA and CS professionals to offer a full set of virtual CFO services. From financial planning to operational account management, we have got the best features of CFO to offer to businesses, especially startups and SMEs. Reach out to the advisors at My Valuation, the leading Virtual CFO services provider in Bangalore and pan India.
FAQs and Insights
1. What is the requirement of having Virtual CFO Services?
Virtual CFO services created the opportunity for Chief Financial Officer (CFO) services responsible for financial evaluation and risk recognition. The services of a CFO can be easily outsourced if a business entity doesn’t require an internal CFO to carry out these financial responsibilities. These financial responsibilities can be outsourced to a reliable consultancy agency that will handle all the tasks that are finance-related in the business. By outsourcing to virtual CFO services, companies can gain insights into their business’ financial condition and turn it around for the better. Below are the ways virtual CFO services can benefit your business
- Financial Projections: Virtual CFO services can evaluate your financial records and income statements to provide valid financial projections.
- Cash Flow Management: Adequate revenue management is required to handle cash utilization appropriately.
- Cash Flow Projections: Proper cash flow predictions will be performed to guarantee the continuous in-flow of cash to fulfill all responsibilities.
- Budgeting: Annual budgeting is vital and regular tracking is also required to evaluate progress.
- Management Of Debtors And Creditors: The management of debtor and creditor is necessary to reduce financial risks.
- Establishing an Account System: Analysis of the current account system and suggestions for necessary improvements
2. Features of Virtual CFO Services
Virtual CFO is responsible for managing financial records that are in line with accounting principles.
- Financial Evaluation: Virtual CFO evaluates the financial status of the organization which is necessary for drafting policies integral to business growth. The business activities are also evaluated by recognizing major operational pointers.
- Budgeting: Setting up budget assists in the cash flow management of the business. It is vital for evaluating cash requirements to appropriately balance income and expenditure.
- Financial Projections: Financial projections involve the estimation of future income and expenditure. It also helps in forecasting market factors and decisions on cash and resource requirements.
- Cash Flow Projections: Cash Flow predictions help to evaluate the financial status of the organization. This is crucial for making financial plans to cater to every financial responsibility.
- Increase Profitability: Virtual CFO services assist in mitigating wastage of resources. A strategic plan is required to increase productivity.
- Risk Evaluation: Virtual CFO recognizes every risk and moves appropriately to mitigate the risk that can adversely affect the business in the future.
- Key Performance Indicators (KPIs): Key Performance Indicators are required to evaluate existing conditions and project future occurrences. There are different areas of the business that demonstrates KPIs such as sales, production, distribution, cash generation, and status of inventory. These factors are constantly tracked by the virtual CFO.
- Organizational Structure.: The Virtual CFO implements appropriate modifications in the structure of the organization for the growth of the business.
- Growth Plan: The financial status of the organization is managed by the virtual CFO to facilitate the growth of the business. The virtual CFO propagates an excellent growth plan that recognizes when the business needs funding.
3. What are the main Virtual CFO Services?
- Financial Recommendations: Virtual CFO analyses the current demand to provide financial recommendations. The growth of a business is determined by proper financial planning. This will enable top executives to concentrate on critical aspects without worrying about the financial condition of the business.
- Business Compliances: Virtual CFO services provide all type of compliance services to deal with various acts applicable to the company. It mainly includes 15CA/CB filing, income tax return filing, TDS return filing, Form 16/16A generation and other TDS related compliance, GST filing and related compliance, FLA filing and other FEMA compliance, RBI compliances, Tax audit under Income Tax Act, Statutory Audit under Companies Act, Limited Review, Due diligence and all such other compliance works.
- Cash Flow Projections: Another primary responsibility of the virtual CFO is to predict cash flows. The financial condition of the business should be well-known to implement proper decisions. Proper future financial planning must have been established to meet all present and future responsibilities. It facilitates proper decision-making irrespective of the number of funds that would be incurred.
- Budgeting: Virtual CFO services also involve budgeting. The tracking performance of the organization is conducted through budgeting. Budgets require quarterly and monthly reviews for adequate modifications and improvements to meet a specific objective.
- Break-Even Analysis: A break-even analysis is used to determine the profitability of a business by considering the total cost (both variable and fixed). A virtual CFO develops the break-even analysis of a business to identify aspects where expenses should be managed.
- Responsible for The Company’s Account.: The account management of an organization is very critical. This aspect is responsible for analyzing the financial condition of the company. This financial condition involves a comprehensive assessment of the organization’s account and finance section. A professional is required in business management that will provide an extensive report on the accounting operations of the company such as preparation of data as well as other accounting requirements.
- Growth Plan: Specialized areas require constant evaluation to facilitate business growth. A strong financial condition can be achieved through the establishment of different policies and the integration of strategic ideas. This process requires deliberations and evaluations to provide adequate guidance concerning the current profit, turnover, accounting and operational systems, business ambitions, and key performance indicators (KPIs). The financial conditions also evaluate potential growth, tax efficiency, and the overall business structure.
4. What services does a Virtual CFO provide to startups?
Virtual CFOs play an important role in the financial development of any startup organization. As part of their responsibilities to oversee the financial side of the business, virtual CFOs offer the following services:
- Under Income Tax Act : Obtaining PAN/TAN, 15CA/CB filing, income tax return filing, TDS return filing, Form 16/16A generation and other TDS related compliance, Tax Audit
- Under GST Act: GST Registration, GST Return filing, GST Annual Compliances, GST Audit, GST Refund Application and other related compliance.
- Under FEMA Act : FLA filing and other FEMA compliance
- Under Companies Act: Incorporation of Company, CS Compliance for regular ROC filing, Statutory Audit under Companies Act, Quarterly and Half Yearly Limited Review, Due diligence, CS Compliance for Startup Rounds, Filing of Forms with ROC and CS Certificates.
- Other Services: Accounting services such as accounts receivables & payables, bookkeeping, taxation, payroll and other advisory services such as business incorporation, intellectual property, legal & compliance.