Building a business from scratch is a complicated feat. It requires not just passion, an idea for business but an all-inclusive command on the degrees of compliances, accounting and taxation, etc. Most of the promising startups and small scale business begin with an exemplary idea but get stuck with the complications related to accounting and taxation. Each of which are beneficial for establishing a company or a small scale business in a country in order to grasp the full potential of the idea behind the business. The slightest of miss on matters like taxation, compliance, auditing and in the current era GST filling can land the entire business in years of court hearings, outflowing revenue, exuberant tax payments, which in turn can decrease the profitability of the business.
It is such crucial occasions when a startup or SMEs look for promising professional assistance of an experienced Financial Officer. Good news is, it is no longer 2000s that an enterprise, whether small, medium or big, require to hire a Chief Finance Officer. It is an era of Virtual Chief Financial Officers (Virtual CFOs.) A Virtual CFO or a VCFO is an expert and certified finance professional who acts as a financial advisor for small enterprises, startups and small scale businesses by helping them with their financial management and reporting. Virtual chief financial officer is the perfect solution for any startups or small businesses to support their decisions in finance, accounting, compliance, taxation and reporting.
The virtual chief financial officer provides services related to finance and accounting that include getting the funding ready (debt or equity,) the business proposals vetting, all the business valuations, accounting and outsourcing, financial accounting services, risk assessment, preparing financial statements and audits, payroll accounting, and forensic accounting services, etc. A virtual CFO acts as a financial advisor which is just like recruiting a graduate chief financial officer right at office. But, unlike a chief financial officer at workplace, a virtual chief financial officer is like and outsourced resource or a professional CFO expert who works dedicatedly for small and young businesses in their financial planning, financial risk assessment, bookkeeping, etc.
Here is a list of 5 best and promising Virtual CFO services
Starters' CFO, a promising virtual CFO Service provider offering the most-efficient virtual CFO services for 2020, has been working with the motto of running your business for you along with being your right hand with decisions related to bookkeeping and financial investments. Popularly called as India's first virtual chief financial officer service, dedicated to small scale Enterprises and startups, Starters CFO offers assistance in finance and accounting services to young businesses and small and medium scale businesses with their human intelligence and intuitive software. Starters CFO is equipped with the team of expert and highly skilled financial officers who have a hands-on understanding of maintaining real accounting books for businesses along with a spot-on skill of designing a powerful software that makes sure that all the finance operations are streamlined. With clients like Ortho Cure, Bizztor, shaadi.com, instaspaces, etc., Starters CFO offers services like Accounting & Tax Compliances, Statutory Compliance, Payroll on Autopilot, and other services on demand.
Alamak Capital
A giant in the field of Virtual CFOs for small and medium-sized enterprises, Alamak Capital is an included name in the list of top 20 most promising Virtual CFO service providers in India by Silicon India. Offering its financial and operational expertise into consulting several young businesses and small, mid-size Indian companies who are thriving into the market. Alamak Capital caters to a number of small and medium enterprises in Delhi NCR and other two-tier cities prominently in North India. Popular for their exceptional services, Alamak Capital are preferred for their efficiency, 24 by 7 availability, hands-on execution of ethical techniques and procedures, resource mobilization and affordable professional services.
My CFO
Established in 2006, My CFO is one of the most-rated financial and accounting services establishment that provides virtual financial services to clients across a varied range of industries, and multiple sizes of enterprises running in several verticals of businesses. Reviewed by a number of clients spread across the country, services of My CFO spans in the major Indian industrial hubs that include metro cities like Mumbai, Delhi, Pune, Hyderabad, Coimbatore, Chennai and Bangalore. My CFO aims to focus more on companies who are looking for high-quality financial and accounting services that can help them enhance their business while taking care of compliances and taxation.
CFO Desk Services
Another prominent name in the list of top 5 most promising virtual CFO services in India, CFO Desk Services was established in the year 2003 with a motto of offering their rich experience of finance and accounting to various SMEs and small-sized, budding companies. CFO Desk Services, as exclaimed on their website, is a professional group of Finance experts and certified professionals who posses rich expertise and knowledge in the management of diverse industries. The finance professionals available at CFO Desk Services are known for engaging with the current demands of the industries in order to cater to the requirements that span across stages of planning the business, control, business Finance Management, development of the financial systems, financial risk management, system integration, and strategies, business planning and decision making, and other everyday financials operational challenges. CFO Desk Services and their financial and accounting services are appreciated mostly in Mumbai and Navi Mumbai mostly for their assistance with equity and venture capital investment, financial management of the business, handling the entire control, and offering transactional support.
SuperCFO
With founders like Bhairav Kothari, the one who introduced Freelance and virtual CFO concept to all Indian Entrepreneurs, SuperCFO is one of the most celebrated Virtual CFO Service Providers present in India. Established in 2006, SuperCFO has been running with the motto of "Performance Excellence. SuperCFO offers an accurate analysis of financial matters that are backed with statistics and efficient solutions that act as a one-stop business solution to all the statutory, financial and regulatory needs of young enterprises and businesses.