In today’s digital scenario, businesses are continuously looking for ways to develop efficient cost-saving strategies. Yes, we’re talking about strategic financial planning, cost management, and affordable budget-setting. This requires hiring a CFO (Chief Financial Officer) who usually charges too much. However, startups that have just started operating can’t afford to hire a full-time executive. This is where virtual CFO services come to their rescue.
A virtual CFO is a part-time or freelance individual who operates remotely. They assist businesses of all sizes to stay updated with the latest finance trends and make strategic business decisions. Moreover, they also help CEOs save company costs, monitor risk assessments, and be directly accountable to the organization’s shareholders.
Now the question is, where to get the best virtual CFO services in India? Ease Up Now has got you covered! We are a leading firm in the nation offering the most affordable freelance CFO amenities. We simplify your finance management process as well as predict future crises that may arise and also mitigate them. We have especially tailored services for startups who usually don’t have high budgets.
Keep reading this article to understand how our virtual CFO services can help them grow without investing too much.
Cost-Effective Financial Expertise
As said before, you don’t need to go to a virtual CFO’s office to hire them. They work from home and you can connect with them online, which saves your transportation costs. You may outsource them by contacting our top-notch client representative team anytime. We’re available round the clock and ensure you avail of a smooth CFO onboarding process.
Ease Up Now’s virtual CFO services provide customized finance solutions for all businesses, as discussed before. Our Chief Financial Officers first audit your company and analyze any risks you may be facing and your overall budget. Then, they develop financial strategies that would be suitable for cutting company costs and availing maximum profits.
Here are the flexible pricing models you can avail from us:
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Hourly Rate
Most freelancers charge on an hourly basis. This is done when the operation is project-based, i.e., when the virtual CFO services are unspecified, or the amount of time needed is unexplained. When the CFO can’t estimate the time or scope of the project, they will charge on an hourly basis. They will keep you informed on their hourly availability each week so that you can evaluate your next bill.
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Monthly Fee
Monthly charges are made when the timing and scope of the project are defined. They come into the light when you want the CFO to visit your operation using your employees, systems, or technology to do their work. Sometimes they are held for hours, with any unutilized hours shifted to the next month. Other times they are fixed, you pay the monthly fee and avail of the services in return, disregarding the hours used.
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Subscription
Subscriptions are becoming quite trendy with the virtual CFO services in India. They are a fixed fee planning but are usually different from the monthly retainer in the following ways:
- Services are estimated around how the virtual CFO will service their clients
- The virtual CFO is tech-savvy, offering software applications as part of its services
Just like buying a subscribing to software, you’ll get a set of aids at a fixed price. You’d be working according to how they work, not vice-versa.
Subscriptions are priced unlikely. They may offer different service packages with more value-added bundles costing more. Pricing may be based on your yearly revenue or the number of employees and vendors you have.
Strategic Financial Planning
A virtual CFO assistant has become the need of the hour for any business be it an SME or a month-old start-up. If you want to master this competitive Indian Market, availing virtual CFO services in India is a must. Because of the growing competition and development of online businesses, the idea of a virtual CFO is innovative.
No doubt, accounting, and budgeting are core parts of any business’s success. Even a little mistake in the same can cause a huge loss to the business. However, this requires expert and strong cash flow management. Make sure that the planning is done under expert guidance as it involves many delicacies of the business, mishandling of which can cause problems.
Therefore, hire the best Virtual CFO services for cashflow management owing to their expertise and skills to achieve targeted growth.
Technological Advancements
- Virtual CFOs use highly advanced technology to assist businesses with finance management. They undertake system auditing and design, budgeting, strategy development, break-even point calculation, accounting policy development, etc.
- Additionally, they also take care of payroll management, MIS reporting, GST registration, HR management, and much more.
- There are several benefits of hiring a part-time CFO. They not only operate remotely but also are proficient in all businesses, such as IT, food, travel, EdTech, etc.
- Furthermore, they are available anytime as per the hours mentioned or the contract signed.
Enhanced Decision-Making
Virtual CFO services in India help you revamp the operations costs by cutting down on unnecessary expenditures by employing efficient budgeting and accounting. This assists in generating higher income at a comparatively lower rate of investment.
In addition, all businesses undergo hidden risks that are sometimes easy to assess. These risks are threats to any startup causing unexpected damages that can be time-consuming to resolve. Therefore, a virtual CFO recognizes potential risks to mitigate so that they can be combated at different levels.
Focus on Core Business Activities
By employing our best virtual CFO services, CEOs or founders can be free from all financial headaches. Leave all your financial management stresses to us and focus on other core business activities, such as marketing or operations.
Besides, a business owner is supposed to be a team leader rather than just acting as the financial caretaker. They are supposed to play a major part in the company’s growth.
Conclusion
To conclude, all businesses nowadays need expert financial advice and management solutions. Hiring a full-time CFO, especially for a recently established startup, can be expensive. Hiring virtual CFO services can be a boon to them. Part-time CFOs not only charge less but also are experts in all niches.
Looking to avail the best virtual CFO services in India? Talk to Ease Up Now’s sales team! Or, you can directly call us at +91 9826266300.
