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Virtual CFO Services
Virtual CFO stands for Chief Financial Officer. He is a service provider offering high skilled assistance in financial requirements of an organization just like a Chief Financial Officer does for a large organization. A Virtual CFO maybe a single person or an entity. The mushrooming of the startup ecosystem has generated specialised service providers which fit the requirements of the startups. Virtual CFO is one such specialized service provider.
Why Virtual CFO?
- Startups normally do not have the resources to hire a full time CFO. There have been studies claiming that among the top issues faced by Indian startups are hiring financial and legal experts.
- According to a Virtual CFO, startups like to keep fixed costs low. And having a virtual service provider provides them the facility to seek services when required.
- A virtual CFO provides strategic value added services to a startup which cannot be provided by an accountant. It is mainly used by small to medium businesses.