For any business, having a core finance officer is essential. But hiring a dedicated Chief Financial Officer (CFO) on board is not just a daunting task, but also a cost intensive role. This becomes a bigger challenge for small and medium sized enterprises, start-ups alike. While it is imperative to have a CFO on-board, it can be done without the conventional style and huge cost involved to have it on the payrolls.
Virtual CFO, can be defined as an outsourced service that offers high quality assistance to start-ups and SMEs in their day to day financial operations and strategies at an affordable cost that suits the business. Besides the role entailing building strategies to generate value, scout for funding, handling complex plans and structuring related issues, and building sustainable business model, the virtual CFO is as good as the conventional one but with much lower engagement cost.