Virtual CFO
Virtual CFO is a way for Start-Ups to get CFO support that they wouldn’t have been able to afford previously
Hiring a full time CFO is a costly affair. Virtual CFO is a way for Start-Ups to get CFO support that they wouldn’t have been able to afford previously.
Start-Ups that hire a Virtual CFO get access to an experienced financial professional at a fraction of the cost of a full-time CFO. Virtual CFO provides the following services:
- Handle all the duties of a traditional CFO, but work remotely and on a part-time basis.
- Monitor the financial health and well-being of the business.
- Offer expert financial insight and guidance on all company decisions and issues.
- Provide back-office functions such as managing accounts ledgers, depending on business requirements and client needs.
Having access to a Virtual CFO is a big advantage for a Start-Up and small business. Most of the Start-Ups can’t bear the cost of an experienced, knowledgeable CFO on a full-time basis and may never consider hiring one. It is a service that is capable of laying a strong foundation for future growth.
In light of the fact that many Start-Ups fail within the initial three years. Reasons include failure to set themselves apart from the competition, and inability to find a profitable business model. With an experienced accounting professional acting as their Virtual CFO, Start-Ups could keep their financial goals and realities clearly in sight.
Scope of services provided by TaxFino Virtual CFO:
- Establishing Accounting & Financial System
- Strategic Planning & Risk Management
- Define Policies & Controls
- Accounting
- Costing & Cost Management
- Business Plans & Budgeting
- Monthly Financial Reporting
- Financial Management and planning
- Finance & Accounting
- Manpower Planning
- Coaching & Mentoring Finance Staff
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