Know about the Virtual CFO: how much does a Virtual CFO cost?

Virtual CFO services have become very important for the companies who don’t want to book a permanent CFO (Chief Financial Officer) for their company. Enterslice helps those industries to provide CFO services at very convenient prices. Through this blog, we will explain you the working and services of a Virtual CFO along with its costing. 

What are the Virtual CFO Services?

Virtual Chief Financial Officer is appointed by the organizations that don’t have any in house CFO for them. He/ She is appointed to solve the problem of growth, financial aspects, accounting as well as management for the company. He primarily manages the financial risks, record keeping and financial reporting as a higher management of the respective Company. Thus, a company highly requires virtual CFO services to meet the financial requirements of the company and to support the management system properly. 

What are the functions of the Virtual CFO services?

Virtual CFO helps in financial analysis and risk identification. If the organization does not wants to appoint a full time CFO, they can book the Virtual CFO from consultancy firm which will help them in managing all type of finance related functions of the business. Here are some of the functions performed by a Virtual CFO:

Set up Accounting systems: 

• Virtual CFO will help you in evaluating the old accounting systems and will provide recommendations regarding its improvement.
• Budget set up:
• He will help in setting up annual budget and evaluate it periodically to track the progress of the company.
• Cash flow management: 
• It is prime duty of the virtual CFO to manage the cash flow of the company to utilize it for the various purposes.
• Cash flow projections:
• Cash flow projection is done in order to ensure the cash inflow to fulfill the obligations.
• Financial reporting and projections:
• Main focus of the virtual CFO will be upon the income statement and financial statements of the company to provide valuable financial projections. 
• Proper management of debtors and creditors:
• Debtor & Creditor management is a very important for the company to mitigate the credit risk and set up the budgets.

Virtual CFO services

What are the main Virtual CFO services?

Following are the main virtual CFO Services:

• Financial guidance and advisory: Virtual CFO guides the company on the basis of their needs. A good advice and proper guidance can help the company to achieve their desired goals. 
• Budgeting: Other main service of a virtual CFO includes budgeting. He evaluates the budgets on annual or quarterly basis to track the performance of the company. He can make the changes in the budgets for better growth of the company.
• Accounting Functions: Most of the companies hire a Virtual CFO for their accounting services. Virtual CFO helps in accounting health check of an organization. It means complete assessment of the financial and accounting aspect for better evaluation. A person needs to prepare and implement various policies and strategies in order to have a well-defined accounting health check.

Internal controls and management:

A virtual CFO maintains the internal control system through his proper guidance that helps in continued reliability of the organization. Internal control involves accurate accounting record, well informed financial decision, proper financial reporting and many more aspects. 

What is the cost of virtual CFO services?

Different companies charge different cost for Virtual CFO services in India. But Enterslice is different from those companies in aspects of Experienced Professionals, On Demand Support Services and Expert Knowledge of Market at very affordable prices.

Conclusion: Virtual CFO services are very beneficial for the companies who cannot afford in house CFO. They not only look after their finance but have a full internal control on the business activities that helps them performing better. Enterslice provide you the best virtual CFO services at very affordable prices. To get your services now, drop a mail to Enterslice team at info@enterslice.com.