The advent of digitization has made the role played by a CFO more challenging. In this competitive environment, a CFO needs to have relevant skills to carry out financial functions, management, and business functions. Virtual CFO services can be offered either remotely or through an external consultant.  Due to digitization, businesses have to adapt according to the changing circumstances.

Every organization requires appointing a chartered accountant, and the CA is responsible for the financial functions carried out in the organization.

A business that does not have an in-house finance department can utilize alternatives such as outsourcing the finance function to another firm. Apart from this, the business can also utilize virtual CFO services. V Some businesses, such as Start-ups and SMEs, may not have the necessary resources to hire an in-house Chief Financial Officer (CFO). Hence, these businesses would opt for virtual CFO services.

What are the advantages of having Virtual CFO Services?

Digital Challenges have made the business environment more competitive. Hence, it is crucial to have virtual CFO services. There are different advantages to using virtual CFO services. The following are the advantages of using these services.

Integration

Using virtual CFO services would offer the organization advantages of technology integration. Virtual CFO firms use advanced technologies such as artificial intelligence, data analytics, and big data to enhance the process in which compliances are maintained. Accounting compliance can be maintained through this process. Apart from this, a firm using virtual CFO services can get timely updates on compliances to be followed. At M.M Vora Associates, our CFO services have high-end technologies such as artificial intelligence and data analytics to provide seamless services.

Financial Projections

A firm using these services would be able to receive financial projections and budgetary analysis. The services offered would help the organization predict the budgets and finances of the organization. At M.M Vora Associates, our services would include the use of prediction technologies such as predictive analytics to protect your organization’s finances.

Accounting Compliance

Using this service would provide the organization with an added advantage of compliance with accounting systems. In India, an organization has to maintain compliance with different regulatory authorities. These include the Institute of Chartered Accountants of India, the Ministry of Corporate Affairs, the Securities and Exchange Board of India and the Income Tax Authorities.

Using virtual CFO services would provide not only your organization’s accounting compliance but also compliance with the relevant regulatory authorities. Using M.M Vora Associates services would provide you with updates on different compliances that have to be followed by your organization.

Budgetary Control 

Using this service would also provide you with a means to control your budget. Every organization has a fixed budget that is allocated for carrying out different activities. At M.M. Vora Associates, our team of professionals, such as CA, CMA, and CS, will plan and prepare a budgetary report per your organization’s requirements.

Through this service, your organization can receive a detailed report on budgetary analysis and reporting. A traditional CFO cannot offer this. Even if offered, it would take a considerable amount of time and effort to produce the required level of results

Virtual CFO Services Offered by M.M Vora Associates

Our services will ensure quality services, which adds maximum value to your organization. We ensure that the services we provide are of high standards. Our Virtual CFO service will ensure that optimum ability is achieved in managing your organization’s financial resources.

This service will not only increase the capability of your financial functions but provide overall technical, administrative and managerial support for your organization. We offer the following services as a part of our virtual CFO package:

WHAT DO VIRTUAL CFO SERVICES OFFER?

We’ll cover some of the more specific deliverables below, but let’s start with some of the broader benefits of virtual CFO services.

• A CFO can identify and manage the bookkeeper/controller to produce reliable data and interpret the results, providing insight to help steer the ship toward your stated goals. The result is that you know exactly where, when, and how to focus your team and inform your stakeholders.

 

• A CFO can be a much-needed sounding board, coach, or guide. Look for a seasoned veteran who you can trust, not merely someone to fill a role. In the end, you’ll have a team member who knows your business and can help hold you accountable as you work to reach clearly-defined goals.

 

• A CFO can position the finance function as a competitive advantage. If you’re financially frustrated, chances are your competitors are too, but they’re probably not reading this post and actively seeking a solution. An experienced CFO can help you cut waste, deploy cash efficiently, and find opportunities for greater production or expansion. With their help, you can be in a position to step ahead of the other organizations in your niche.

If you want to learn more about Outsourcing CFO Services, Feel free to contact us