Finding it difficult to manage the accounts team?

Early and Growth Stage startups might find it difficult to manage their finances and accounts. Count on Taxvalley for providing you a virtual CFO. Make the right choice today, and everyday!

What to Expect

Interpret financial results

Interpret financial results

  • Setting up the new financial process and restructuring of existing ones (if required). Consistent review of the processes to give your business a strong foundation and a smooth path ahead
  • Analyzing the monthly MIS to seek a trend about the current cost spendings to avoid unnecessary spends for the business. Doing Cost benefit analysis to increase profitability
Annual Cost Budgeting

Annual Cost Budgeting

  • Budget allocation across the business cost centers with the help of inputs from Founder. Monthly variance analysis reports to understand the real ground level situation
  • Scheduling calls to discuss redflags and critical issues pooping up during the process
Business runway planing

Business runway planing

  • Projecting potential revenue and expenses given the current market position and latest funding round
  • Calculation of the estimated runway considering the current cash position and expected cash flows
  • Regular monitoring of the average receivables cycles and keeping it below the industry average
Investment Advice

Investment Advice

  • Understanding the organisation’s vision and mission statement and help them with regular investor reporting
  • Virtual CFO may also help in creating the financial story and can do light pitching before investors and BOD

Process

virtual cfo process
Schedule a call and assign the work

Schedule a call and assign the work

Schedule a call with our expert. We will discuss and understand your requirements and scale of the business. A customized plan will be offered based on your inputs and needs.

Closure on the contract and document sharing

Closure on the contract and document sharing

Post your agreement on the plan and signing of the NDA, our experts will share a detailed list of requirements and schedule calls with the accounts team to understand the financial process.
Last 3 year accounting data would be required to understand the scale and nuances of the business.

Regular and ongoing observation process

Regular and ongoing observation process

Virtual CFO will continuously guide the accounts team about the recent changes in the tax laws and reporting guidelines.
Weekly calls with the Accounts team regarding the industry updates, if any and hear them out in case they are facing any issues with the current processes. This will help in continuous assessment of the overall financial structure.

Monthly reports and follow-ups

Monthly reports and follow-ups

VCFO will be providing the below reports on a monthly basis:

  • Cash utility report based on the cash burn with appropriate guidance on cost cutting
  • Budget, allocation report with the variance analysis, if any
  • Variance analysis reports on business projections and pointing out any red flag based on the actual business achievement
  • Accounts receivables and accounts payable ageing to get a sense of receivables and liabilities of the business

free call

A Free Consultation Call awaits you

Talk with an expert. We will provide a solution according to your unique financial requirement.

Why trust us?

Dedicated support

Dedicated support

A senior finance professional will be assigned to your organisation as a Virtual CFO. You can expect a real time response from the team on emails and calls

Confidentiality

Confidentiality

Complete confidentiality, as we know that a company's most valued asset is its financial data. Yes, we sign an NDA before any data exchange. You don’t have to worry.

Business Automation

Business Automation

Smooth and transparent project management with technological support gives us an edge over the competitors.

One stop-shop

One stop-shop

With our Accounts and Income tax return filing services we can become your one stop shop for all financial and tax needs.

FAQ's

What is this Virtual CFO (‘VCFO’) concept?

Finance function is the most important function for any organisation. It runs in parallel with the accounts team. Accounts focus on recording the transitions on time and the finance team review those records for further preparing the analysis reports. Based on the trend and industry analysis reports prepared by finance team, CEO is in a better position to take informed decisions and project the future scenarios based on his experience.
CFO is the one leading the finance & accounts team. He is responsible for the correct recording and analysis of data. Sole purpose of doing correct and regular accounting is to analyse the recorded data and project the future scenarios. If you are not doing that then the accounting is of little use.
Virtual CFO is nothing but the CFO working remotely for your company.

How do I know if I need a Virtual CFO?

Ideally you should have a VCFO from the day you start the business but at the initial stage the operations are on a very low scale and lot of companies don’t prefer to engage into VCFO services to save on some cost. Few major trigger points are mentioned below to start with a VCFO service right away:
  • You are a start-up planning on raising external funds.
  • Your financial system & process are broken. You are finding it very difficult to manage the accounts team.
  • Board of directors are asking for monthly business reports but your accounts team is not well equipped to provide such reports.
  • You are facing difficulties in projecting the cost & revenue for the business and preparing financial modals.

What does a Virtual CFO do?

A Virtual CFO supports business management and improve the financial process with help of the following functions:
Interpret financial results:
  • Setting up the new financial process and restructuring existing ones (if required) with regular follow up meetings and review to give your business a strong foundation and a smooth path ahead.
  • AnalyzingAnalsing the monthly MIS to
  • seek a pattern or a trend in the current cost spendings to avoid unnecessary cost for the business. Figure out cost savings measures with the help of cost benefit analysis.
Annual Cost Budgeting:
  • Budget allocation across the business cost centers with the help of inputs from the founder and monthly variance analysis report for the founder to understand the actual situation.
  • Scheduling calls to discuss redflags and critical issues pooping up during the process.
Business runway planing:
  • Projecting the revenue and expenses for the business and calculation of the estimated runway considering the current cash position and future revenue & expenses.
  • Regular monitoring of the average receivables cycles and keeping it below the industry average.
Investment Advice:
  • Understanding the organisation’s vision and mission statement and help them regular investor reporting
  • Virtual CFO may also help in creating the financial story and can do light pitching before investors and BOD

How is VCFO different from a financial controller?

This a very general question asked by the entrepreneurs as they start to scale up.
Financial controller and VCFOs are two separate designations and can’t be used interchangeably. We have provided some major differences for you to take the right decision for your organisation:
A financial controller is the person who is in charge of accounting for an entire business. They handle record keeping, direct and indirect taxes, insurance, audits & HR, Its their job to continuously review each and every financial aspect of a business and sure sure it adheres to the legal and industrial standards. Their attention to detail and meticulous documentation ensures the company accounts for every incoming and outgoing transaction.
A CFO or VCFO (‘CFO’) uses accounting information provided by the financial controller (in some cases accountants) to analyse the companies financial position and make financia decisions to improve company’s financial health. A CFO oversees the financial controller's work, often use the detailed financial information provided while taking the key decisions regarding increase in profitability and raising of funds.
The CFO's responsibilities cover a wider range of departments because they are responsible of the future projections, budgeting, financial processes and every major fiscal decision made by the company.

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