Outsource CFO For A Tight Budget Startup
We all know that start-up entrepreneurs are busy juggling 60 things at a time. Like any other startup, you too are wearing multiple hats, multi-tasking all things to get streamlined. Are you able to streamline?
Well, you know the answer to this question, but the real deal is what shall you do to streamline your task especially financial matters. For any start-up, budget is the core focus wherein every business activity revolves.
To get your financial matters straight, right from gaining credibility in the market, making financial strategies to pull in profits, to get investors you will need a high end experienced person – We know this professional as a CFO – Chief Financial Officer. Like the name goes, this C-level executive act as a core member in the team, handling all sorts of financial woes of the business.
Need A CFO But Have A Tight Budget?
Perhaps, this is the plight of every start-up. Not able to get on-board desired manpower squeezes your business’s limelight. The kind of exposure, sales and credibility that are meant to happen doesn’t come easily because of the lack of budget. Especially, when it comes to financial matters, a business definitely wants to get ahead and expects every body to notice – but in vain.
For a small business, having a core financial executive is important, but hiring one is not only difficult but an expensive task. Understanding these woes of start-up, the companies like Alamak Capital, ixCFO, Visiting CFO has introduced something called a VIRTUAL CFO.
The Need For Experienced CFO Has Arrived in India…..
“A CFO should be ideally focusing on managing fund-flow and on other crucial business financial aspects. But a lot of CFO time is spent on managing transactions such as accounts payable and receivables and finalizing accounts which consumes their most of their time. CFO support – otherwise known as Virtual CFO-is invaluable business tool to free up that time at the top of the corporate pyramid through the taking over of finance department transactions by a qualified BPO specialist,” said Rajesh Venkat, Chief Executive Officer at Sundaram Business Services, a global Business Process Outsourcing (BPO) service provider.
Mr. Rajesh Venkat, CFO of Sundaram Business Services recently did a great article that featured in imwire.
Here is a small part of an article from Mr. Rajesh Venkat speaking about Need of a CFO on a tight budget.
You Can Have A CFO With A Tight Budget – Outsourced CFO Services
An Outsourced CFO goes beyond accounts to build a sustainable business model, but SMEs are often constrained by limited budgets, a small scale of operations and a traditional family-run approach. That is why chartered accountants or auditors often fill the gap. But when it requires a more experienced hand, Virtual CFOs is the way to go.
A virtual CFO primarily takes care of all the financial needs of the company, from payroll to vendor payments and report which needs management analysis to taxation and accounting. Moreover, such outsourced CFOs often have strong relationships with banks and financial institutions, which come in handy when the company negotiates a loan or encounters any financial crisis.
Most of these companies, such as Aristotle Consultancy, offer their services on a monthly retainership model. They offer various custom packages to the clients and charge them on the basis of the client requirements, company’s team size and other factors that influence the volume of work. These companies understands that the budget are tight, the value of appointing CFO services is not only beneficial as any in-house CFO along with skipping the expensive price tag.
Aristotle Consultancy offers one of the best outsourced CFO services, To read more about Aristotle Consultancy, Click here
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