SHARED CFO SERVICES
Shared CFO services team advises on a range of financial matters in the interim or at operational level for shorter and longer durations of time. The shared CFO services unlocks the full potential of a top tier financial expert for a startup or SME while managing the costs to suit the needs of the company. The shared CFO service advisor can help a startup or a growing business with the forecasting, budgeting, financial controls, financial analysis, regulatory controls and checks and strategy to enable the company to make informed decisions. Further, the shared CFO generally works remotely for the company thereby making it more efficient and flexible for the company in today’s digital era. The shared CFO is easily able to navigate the routine financial situations due to his in-depth knowledge and practical experience of working across multiple segments and industries and vast network access.
What is virtual or shared CFO service?
In a shared CFO environment, a professional who is a qualified domain expert acts as the principal advisor to the company. Such experts are qualified to render services such as finance controller, financial advice on strategic and operational matters, budgeting, and other insights as required by the company in different situations, working remotely. Since it's a shared service, no single company has to bear the full cost of the expert, and their time cost can be spread across multiple clients, thereby making it a cost-effective solution.
Who should seek Shared CFO services?
Shared CFO services are most suitable for startups, small and medium-sized businesses, and even growth-stage companies looking to tap into the expert knowledge base of professionals on a need basis. While most companies have their advisory and finance teams in place, domain or industry expertise is critical and often expensive. Through shared CFO services, such companies can hire and avail themselves of expert industry experience at a fraction of the cost. As CFO advisors work remotely and handle fewer high-level aspects on a need-based service, they can render dedicated services in a short span of time with greater flexibility.
Does Plutus Consulting render shared CFO services?
Plutus Consulting has been rendering shared CFO services to its clients for the past decade and more. Plutus has a dedicated team of experts who render services to numerous clients across varied industries, including IT/ITeS, e-commerce, digital marketing, agriculture, financial services, and retail, among others, spread geographically across the globe. Many companies at different stages, including startups, SMEs, and growth-stage companies, have benefited from the expert services offered by Plutus. Plutus has created a niche and pioneered rendering services as shared CFO using the latest technological tools, directly enhancing the efficiency and productivity of the companies.
How to determine what services to obtain through shared CFO services?
The biggest advantage of shared CFO services is that remote teams can be engaged on a retainer basis or assignment basis. Promoter-driven companies looking to focus more on operational aspects may explore shared CFO services to let domain experts manage the finances and provide required insights. On the other hand, growth-stage companies looking to streamline their functions or drive internal efficiencies may engage CFO services on an assignment basis and let them bring in cost efficiencies and increased productivity. The most common functions where shared CFO services are sought include routine finance, corporate legal, investor relations management, labor laws and payroll management, and corporate structuring, among others.