Top 5 Outsource CFO Service Providers For Small Business India

To succeed in today’s ever-changing marketplace, it is important for a company to both gain and sustain its competitive advantage. An important ingredient in achieving this edge is an effective CFO function. The role of the CFO has evolved from being a backward-looking financial policeman to a forward-thinking strategist whose main job is to provide advice on a wide range of issues.

The required skill set includes an ability to set strategy, lead change initiatives, and prepare value-added analyses to enhance the Company’s value. Yet most small businesses are often stuck in a quandary — they often need the help of financial professionals to take their business to the next level, yet they cannot afford nor do they need, a full time executive – for which outsource CFO service works as a best option.

CFO services are for growing companies who would benefit from outsourced CFO services. With the assistance of our high-level finance and accounting professionals, a business owner can gain valuable insight and increased time.

Outsource CFO services helps in providing insight and advice to help entrepreneurs make better decisions and grow their company. Producing numbers and analysis that means something to decision makers is a critical element to growing a business. The outsource CFO service focuses on a complete solution for all of the decision makers involved: business owners, investors, bankers, etc.

WHO NEEDS AN OUTSOURCED CFO?

No business is too big or too small to benefit from outsourced CFO services. Whether you want to outsource your entire accounting department or just the chief financial officer function, outsourced CFO consulting solutions can give you the expertise you need while optimizing accounting functions. You can gain benefits such as:

• Greater flexibility: With an outsourced CFO, you can allocate a portion of your budget to senior-level CFO talent, leaving the remainder of the resources to day-to-day accounting functions
• Shared intellectual capital: The professional CFOs work with your team to provide important oversight and interpret historical information, helping you better plan for future profitability.
• Cost efficiency: An outsourced CFO allows businesses to streamline their spending on CFO services when bringing on a full-time CFO is not justified.
• Improved oversight: An outsourced CFO, who is not distracted by day-to-day accounting tasks, has more time to focus on strategic and high-level financial services.

Outsourced CFO – Chief Financial Management Officer services can benefit many companies, including both small companies and even medium-sized businesses. Also called a “virtual CFO,” an outsourced CFO performs important financial services for your company.

What are the benefits to outsourcing CFO services?

• Better controls. Often, small companies lack a separation of duties. One person is performing all of the financial tasks. This is a situation that can lead to fraud and theft. Hiring a CFO to perform these services gives you peace of mind and greatly reduces the risk of losses due to theft and fraud.
• Better trained staff. A CFO has the knowledge and skills to train your staff on Accounting procedures and best practices. Your staff will become more efficient, saving both time and money.
• Increased cash flow. Is your cash flow not where you want it to be? A CFO can help with cash improvement programs designed for your company.
• Help with taxes. Taxes are often a difficult subject for business owners. The IRS rules are always changing. Fines and penalties can be in the thousands of dollars. Save your company the headache by allowing a CFO to handle taxes for you.
• More accurate financial statements. The financial statements of many companies contain errors. A CFO can prepare your financials for you. You can breathe a sigh of relief knowing that your financial statements are accurately prepared by a trained, knowledgeable professional.

Today, businesses are frequently utilizing outsourced CEO services to save resources and streamline their operations. SME Joinup has lined up top 5 outsource CFO service providers for you to choose from suiting your business and budgetary requirements.

  Paprika Consultants – Mumbai and Pune

Paprika Consultants as your company’s virtual CFO, Paprika would be the trusted outside advisor to your CXO team by making impartial and intelligent decisions for Financial Planning, Reporting and Controlling as well as Managing financial risks of your products/services/projects.

To read their case studies, click here.

It leads budgeting efforts throughout the company which results in early planning and right controls to achieve the Company’s financial goals ensuring that all Statutory compliance are in place and there are no regulatory violations.

To read their blog section, click here.

It becomes your unbiased Advisor and aids in implementation of various strategies helping in outlining the much needed profitability Goals and charts the way to achieve such numbers

• Outsourcing to get you more time to focus on Core Business Issues and developments
• Get an unbiased perspective
• Save a lot of costs

What their client says about Paprika

“Priyanka has been an invaluable asset to our organisation while running the finance function. Her commitment, drive and ability to lead our employees is truly impressive which has allowed her to implement new processes and professionalise the department. She is at ease with all aspects of finance and accounting including the operational detail, bank finance & fundraising as well as data driven input into strategic decisions. Therefore I have no hesitation in recommending her and Paprika wholeheartedly.” –Arjun Somasekhara, Director TGA

SME Joinup recommends Paprika Consultants because it is a young and innovative team, which helps SMEs grow real fast by taking sound decisions via thorough Financial Analysis and Planning. The company is a niche consulting firm focused on SMEs and Startups.

Elevate Business Solutions –

Elevate take full charge of the company’s CFO/ Head of Finance function as their Ongoing. The engagement model is onsite/Offsite at the company’s office and delivered with complete ownership of the Finance & Accounts function & reporting into the CEO, Promoters, Group CFO (in the case of a multinational) or investors and manages the company’s Finance & Accounts team. CFO services can be offered to the companies across ownership patterns including Family Managed businesses, Private Equity/ Venture Capital backed companies, Early stage companies and Indian subsidiaries of Multinationals.

The key deliveries are:

• It provide advisory services in the areas of performance improvement, Risk, Business transformation, Operational review, Change to financial reporting methods, transaction support and to sustain the results.
• It take care of working Capital management. Drive to manage working capital maximum from internal sources of funding than borrowed funds.
• It support to achieve business growth plan driven through proper/effective/Dashboards/Management reports.

• Implement well designed & deep down budgetary systems along (Rolling quarterly forecast) with controls and ownership & KRA.

SME Joinuo shares good work relationship with Elevate and believes that their team helps the companies to tackle the financial and strategic issues that affect your business in a way that’s efficient and cost effective for you, the business owner.

    K.G. Somani & Co. – Delhi

K G Somani& Co is a 3rd generation Chartered Accountants firm, practicing in India for over 5 decades. The Managing Partner, Mr. KG Somani is the past president of Institute of Chartered Accountants of India and has represented India on the council of International Federation of Accountants.

KGS has association with Financial Institutions, Banks, Power Companies and Corporations, Manufacturing and Transport (including Railways & Aviation) Industry etc. in and outside India.

It offers services like Auditing, Taxation, Financial services,  CFO assistance, Advisory and Liasoning.

To know more about their latest updates, click here.

SME Joinup has been sharing work association with K.G.Somani and knows well that the company is staffed by a proficient team of CFOs and Business Analysts, who serve as financial experts for various projects. Their team, due to its deep subject knowledge expertise, understands the exact nature of our clients’ requirements and can source the right quality CFO talent.

Suffice it say, that with K.G. Somani at your service, you can rest assured of superior quality executive finance professionals to help your organization’s demanding finance and accounts challenges.

    Radisson Consulting- Mumbai

Radisson Consulting by combining years of experience, cross domain and leveraging technology, Radisson Consulting delivers cutting edge solutions to make simplified accounting reality. Radisson offers single window services to the clients and offers taxation solutions.

By consistently monitoring and keeping the track of the changing statutory norms and regulations, the company aims to reduce for the clients and bring high levels of efficiency in the process.

To read their news and updates, click here.

Radisson Consulting is promoted by eminent professionals with proven track record of consistent performance under the leadership of Mr. Sunil Sharma. The firm’s operation majorly focuses on consulting disciplines and compliance services which it deploys to assists its clients in developing and expanding their businesses. This include:

• Assurance and attestation services
• Corporate tax advisory
• Real estate advisory services
• Corporate finance and other allied disciplines
• Real estate advisory services

SME Joinup finds that every member of Radisson Consulting team passionate about pulling their clients out of the proverbial boxes that they have inadvertently build for themselves. Every member of  Radisson Consulting team performs within the confines of their special and unique abilities.

Aristotle Consultancy – Chennai and Bengaluru

Aristotle Consultancy is a one-stop shop offering end-to-end accounting, financial and advisory services. Aristotle Consultancy were incorporated in 2010, with the idea that large corporate are not the only companies that should benefit from experienced finance professionals.

Aristotle Consultancy offers services in the following domains –

Virtual CFO
Accounts Outsourcing
Payroll Services
Advisory Services
MNC’s entering India

Their client list include names like: Jabong,  Indiamart, FAB Furnish, Press Play, Xerox, RBS,  Vamshi,  Fab Alley.

SME Joinup understands that current market offerings in the finance and accounting domain are either geared towards servicing corporate and are very expensive or offerings are in the form of one-time, arms length piecemeal solutions without any ongoing advice and support which is required for young, high-growth companies and Aristotle Consultancy will be an ideal option here to fill that gap.

SME Joinup has worked with a diverse portfolio of clients, across different industries like Retail, IT, Digital Marketing, Education, Staffing, Renewable Energy, Guarding, Media & Entertainment, Facilities Management, Analytics and BPO, among others. They have engaged with some of the most promising startup companies promoting innovative products, while also having worked in the Private Equity (PE) and Venture Capital space.

It provide a range of expert, high end financial services in the areas of Fundraising, Business Plans, Investor Relations and, Auditing and many more. Get in touch with us to know more about our services that immediately helps you get connected with an efficient, effective and cost effective service providers of India.

Image source:sarnfin.com