A CFO or the Chief Financial Officer is a luxury for small business owners in the cutthroat environment of the Indian marketplace, though a necessary investment.A virtual CFO is essentially a service that offers the same level of expertise services at a lower much more feasible price.

In this blog let’s decode the roles and responsibilities of a Virtual CFO and what value it will add to your business.

What does a Virtual CFO do?

A Virtual CFO oversees a wide range of management tasks and strategic planning that are tailored to the business and the goals of the business.

·      Financial Strategy Development: develop and implement personalised strategies that are aligned with the business’s objectives and fiscal goals.

·      Budgeting and Forecasting: A CFO prepares the annual budgets and long-term financial forecasts that provide insight into the possible revenue projections.

·      Cash Flow Management:monitoring cash flow trends and optimising the working capital, and also ensuring that there is sufficient liquidity to meet financial obligations.

·      Risk Management: identification, assessment and subsequent mitigation of financial risks that could impact the business.

·      Strategic Planning and Decision Support: Giving financial insights and analysis to support strategic decisions on investment, pricing and expansion.

Who Needs a Virtual CFO?

Although it can seem only larger corporations need a CFO service, it is highly beneficial for startups and small businesses. The expertise of a CFO will ease making decisions as every decision can impact the business growth at that stage.