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How can a virtual CFO benefit your startup or SME?

virtual cfo services for startups and smes

How can a virtual CFO benefit your startup or SME?

Many SME’s choose not to utilise a Chief Financial Officer (CFO) at all, managing the accounts themselves or with a small in-house team.  This may work for some businesses; nonetheless in general it’s not the best way to move forward, especially if you are in the position of looking for investment or need to provide full company accounts for other purposes. 

At some point every business needs a source for tactical advice and daily support to meet their financial and technical accounting requirements.   Without the input of a CFO their business will suffer:

  • Deficiency of financial expertise and knowledge
  • Loss of optimisation of cash flow management and driving business growth
  • No clear financial direction of the business
  • Unaware of financial hazards that could be avoided.

So if you don’t have your own CFO, how about a Virtual one?

Firstly, it’s imperative to understand what a Virtual CFO (VCFO) is and does.  There are many challenges facing a growing business and a VCFO service helps you circumnavigate those challenges effectively by providing qualified advice, analysis and support to management.  It does this without the costs associated with an in-house employee.

Most virtual CFO services will manage your business's finances, compliances, corporate governance, and address strategic requirements.

Small businesses that hire a VCFO get access to an experienced financial professional at a fraction of the cost of a full-time CFO. The services will differ from firm to firm, but usually a Virtual CFO will provide the following:

  • Accounting and book keeping services
  • Return filing for direct as well as indirect taxes
  • Assistance in statutory audits
  • Assistance in tax audits
  • Assistance in transfer pricing audits
  • Transfer pricing opinion (if required)
  • RBI, banks and FEMA related matters
  • Assistance in Internal audit
  • Liaison with banks for loans and other credit facilities including ECB route
  • Foreign remittances
  • Assistance on tax and other regulatory compliances.
  • Internal control procedures such as process mapping and streamlining the control aspects       

   Benefits of a VCFO:

  •   They provide expertise to enable you to deliver accurate financial data
  •   More economical than a full time CFO
  •   Knowledge from a team of professionals instead of a single person
  •   Relieves the worry of government investigations and any associated penalties

A Virtual CFO works with you and your in-house accountants to provide you with clarity around the big decisions you need to make about your business.

How QX Advisors can help

We oversee the complete finance and accounts function and provide day-to-day oversight, mentoring and support to the client’s team and management.  We are experienced in Indian compliances, regulatory aspects, accounting and business advisory services.  Our experts provide virtual CFO services to help get your businesses finances in order so you can focus on moving it forward. See the link to know more about our services   

If you want the peace of mind of having your accounting and bookkeeping in order, then get in touch with us today to see how we can be of help. You can email us on or call us directly on +44 845 838 2672 for more information.   

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