Virtual CFO Services
“We take your business, where you want it to be.”
Wiser Decision making
What if you know:
- How much capital you need to fund your business growth in next few months by X%
- What shall I do to reduce my debt & still maintain healthy growth rate
- How shall I plan my inventory purchases & other expenses so as to avoid working capital deficit?
- How my competitors are faring vs me?
- Which products are most profitable & on which sales channels I should sell more?
- Shall I run discounts on my products & by how much ?
- Where I am spending money & what can i do to reduce my expenses?
- How can I reduce my cost of capital ?
- Where would my business be in next few months?
- How much shall I spend on certain categories & what shall be my limit to spend?
Want to see some of our Sample reports?
What does a CFO do?
A CFO focuses on making your organization more valuable to shareholders and increasing the return on your business. They do this by forecasting cash flow, optimizing cost centers, managing corporate capital accounts, and introducing high-value processes. This means more cash, increased profit margins, and more opportunities for your company.
Here are several specific ways that our CFO-led services can deliver growth-propelling results:
- Identify, efficiently measure and interpret the right KPIs for your firm’s industry, stage of growth and current set of opportunities/challenges
- Challenge your assumptions and advance your strategic thinking and competitive positioning
- Establish the realistic financial roadmap to accomplish your objectives
- Keep a finger on the pulse of financial rhythms of the business
- Provide insights into capital allocation decisions and options
- Instill the ongoing rigor required to keep an eye on building value the market will recognize
1. Identify the Challenges & Objectives
We will together work to identify your business objectives and the various challenges keeping you from achieving those objectives.
2. Evaluate the Gap between current state & desired objectives
We will identify & measure the gap between your current & desired state so as to have a measurable plan of action.
3. Developing the system & processes to achieve the objectives
It includes a detailed action plan along with the usage of applications, integrations and systems to achieve the objectives.
4. Constant Evaluation and optimization
After implementation, we will keep on evaluating and optimizing the processes and plan. The plan and processes are reviewed every quarter.
What We’ll Do For You
Budget planning & forecasting
- Prepare monthly operating budget on the basis of financial & strategic objectives.
- Forecasting company sales, costs, overheads, capital expenditures etc.
- Tracking expenses vis a vis budgets & escalating in case of variance.
Debt Planning & Reduction
- Calculate your real cost of capital & quantify your benefits of debt vs organic growth.
- Consulting on taking up additional loans on the basis of business situation & current debt structure.
- Preparing a debt reduction plan with timelines and steps to ensure sufficient liquidity.
Cash flow improvement & forecasting
- Track & Predict Cashflows in & out of company.
- Ensure sufficient cash is available to fulfill your liabilities & inventory purchase.
- Reduce dependency on loans or chances of equity dilution.
Expense Analysis & Reduction
- Suggestive alternative approaches to sidestep expenses.
- Dividing expenses into High, Medium & Low impact categories.
- Consistent monitoring of expenses & escalating in case of deviation from the plan.
Key metric benchmarking & trend analysis
- Finding out the indicators which are crucial to your business growth.
- Benchmarking them vis a vis your past performance & industry standards.
- Analyze trend of your indicators from Past & Plan to improvise for future.
Product/Service costing & profitability analysis
- Calculating actual cost of every product/service by analyzing different cost centers.
- Understand cost of customer acquisition along with cost of delivery.
- Review your profits for every sales channel and sales model you are using.
See The Future in the Present!
Advanced Planning, Beyond Reporting
The importance of reporting, with accurate data and period, is undeniably crucial for any organization. However, with growth, you also need guidance. We can help you apply some strategic planning tactics to help you evolve, grow, and do a lot more. All that, while keeping in mind the need to create a strong and competitive presence.
Advanced Budgeting Services
Budgeting is the main factor that determines the plan of action of any organization over a course of the period. We can easily help you set up an advanced budget for your needs in such a way that reduces cost while increasing efficiency. This will in turn help you achieve your goals accurately and timely.
Gain or Manage Finance
After studying the weaknesses and strengths of your business, we will help you devise a narrative to help you gain the trust of the investors, in turn, gain the required funds for the organization. Afterward, we will also help you allocate the funds in the most economic yet productive ways.
Analyze and Pinout the KPIs
For any business, the KPIs or key performance indicators are crucial to determining what’s booming within an organization and what’s lagging. We and our smart CFOs will help you determine the KPIs in your business and modify everything required for the overall betterment of the organization.
Acquisition or Withdrawal
It’s not easy to figure out whether you should proceed with the acquisition or quit when the time is right. Our trained and well-achieving CFOs will help you figure this out. They will even help you with the requirements that appear after the acquisition or proceed with the procedure required for withdrawal.
These dashboards are created after identifying the actual business KPIs which are crucial for business growth and decision making.
These are interactive which means you can change the parameters to play around with the data. you can drill down the reports to verify the underlying the data, you can export these reports in PDF for your investors & much more.
Why We are Better
Data backed Approach using advanced Statistics
We believe in numbers to be the absolute truth. We use advanced statistics and financial models to understand your business and impact of the various decisions.
Certified MBAs & CPAs with years of experience
Our team is comprised of MBAs & CPAs who have worked with Big 4s & have extensive experience in working with businesses of all sizes over the years.
Not just Suggest, But we Implement
We believe, Just giving you reports can not get you the success you deserve. We work with you in implementing the solutions that we devise.
One of my CFOs recommended Ledger Labs and I tried to try their services as an alternative to my then-accounting team. The people from Ledger Labs made a few transformations in our account books, which worked wonders. I can say that they did things that I had always wanted my organization to have. They lived not only up to my expectations but beyond that. Their efforts and abilities certainly matched our KPIs and I was finally satisfied. They tackle our monthly reconciliations, annual reconciliations, and also participate in various other accounting and payroll services that we have to manage. They are no more an outsider for us. They are family.
As my business grew, it was being difficult to gather information from scattered sources before making a decision. I was desperately looking for someone who could help make my financial data organized and readable. I hired Ledger Labs based on the recommendations of people I can trust. They became my CFO and the go-to-team for any finance-related issues and functions. Once they are in, they are forever in the team because they never disappoint you.
Our business’s books of accounts had no particular structure to follow. As a result, the data remained unorganized and hardly readable by the senior management and the stakeholders. It started hampering our reputation as a business brand. Ledger Labs, the name that we came across while searching for a finance expert online, became our savior. They structured things in the own way and worked wonders for our business. All they want is liberty to implement things their way in consultation with you and they will show their magic. Try it!
Despite adopting the best accounting principles and policies to manage our accounts the best way, there was something that we were lacking. That was the time when Ledger Labs just started working for us. We discussed the issue with them and they suggested the technological loopholes that we had in our system. We followed their suggestion and our brand started building stronger and stronger.
Our Thought Leadership
Frequently Asked Questions
1. How is a Virtual CFO different than an accountant?
A virtual CFO and an accountant are poles apart. The CFO is responsible for managing the finances of the organization whereas the accountant can only read, record, and report the transactions and financial statements related to your business. The latter has zero knowledge about how to manage finances in an optimal way.
2. Why (or when) do I need a Virtual CFO?
When you proceed to grow, the normal staff in the finance department of your organization can never manage the technicalities and challenges that come with growth. The finance department can not make a sound and business-friendly decision. This is where a CFO comes in. for you to hire a CFO can be really beneficial if:
- Your business is expecting raging growth in the near future.
- You are facing some problems in managing the cash incomings and outgoings.
- You need someone to show you how to deal with and manage your finances from different sources.
- The board has decided to take over some business or sell a small portion of yours.
In all these cases, it’s quite beneficial for you to take the assistance of a CFO.
3. How do you communicate with clients? Is it all over the phone?
No, you are free to communicate with the CFO as you like. Whether it is phones, calls, texts, conferences, meetings, or any other mode of communication, you can opt for the same and connect with the CFO. Additionally, these CFOs also use various professional communications platforms like Gmail, Skype, and more.
4. What kind of team does our company gain access to?
If you decide to proceed with Ledger Labs and its services, then in such cases we will arrange a team of CFO, a tax controller, and two accountants for you.
5. Our business is very different from regular businesses. Will your KPIs still help us?
We have worked and gained experience in various domains working with various companies and organizations from different industries. We think it is quite safe to say that we already have the knowledge about the working model and base of the industry you are dealing with. However, for a better understanding of the performance of your business, we take some time to prepare for the best.
Once we analyze the KPIs or the best-performing areas and sectors of the business, we work to fight the weaker points and allow your business to grow.
6. How soon can we start working together?
As we are dealing with multiple clients at times, it may take some time before the final onboarding. We only deal with a couple of companies in a month to keep things smooth for you and our staff. However, during this wait time, we will study your business in depth to provide helpful insights.
7. I'm nervous about giving you and your team access to my accounting infrastructure. How do you handle data security?
Data security is always the first concern of every business. For the sake of the same, we provide utmost care while handling your business data. We upload the data to the client’s servers. Then, we use a two-factor authentication process for anyone to access the same.
8. Do I need to sign a contract?
Yes, you need to sign a contract to work with us as financing and finances are the most sensitive matters and attributes related to any business. So, for the safety of our company and our clients, we do not proceed without signing a contract.
9. How long will the on-boarding process take?
The tenure of the onboarding process depends upon the complexity of the business. We and our experts may take some time to learn extensively about your business. However, in general, the onboarding process starts somewhere between 1-3 months to your communication with us.
10. Will the same people always service my account?
We ensure regularity and consistency in our work. Following the same virtue, we ensure that the CFO assigned to meet your business requirements does not change until the project is complete. This will allow you to get comfortable with the CFO and communicate and connect freely.
11. Why doesn’t my CFO do all these services you mentioned?
Sometimes, companies hire a “CFO” for their business however that “CFO” may not have the actual skills required to become a helping CFO. At times, these “CFOs” are qualified and experienced to execute day-to-day operations of the business only like inventory management, recording of accounts, etc. So, it’s best for you to hire a well-reputed and reliable CFO from a trusted advisory.
12. What size companies does Ledger Labs work with?
We do not judge to scrutinize our clients on the basis of their scale or operations and revenue. We welcome all of our clients for all kinds of services with open arms. However, in general, the companies that work with us have an annual revenue of around $1 million to $20 million. This number, however, is entirely variable.
13. How do you charge for services and how much does it cost?
The charges for our services are not entirely fixed and depend upon the size and complexity of the business. Additionally, another affecting factor is the furniture goals of our clients as well as the challenges faced. So, this is the reason that before talking about the charges, we like to know everything about the business and then deliver to you the best services at affordable costs.
14. We need an interim CFO ASAP but want to hire a full-time position. Can your team interview candidates and help a full-time CFO transition?
Generally, organizations having an annual tenure of less than $50 million do not need a full-time in-house CFO. This is because even if such organizations hire a CFO, there is not much work for him to conduct. Additionally, in the long run, it becomes very expensive for companies to afford the salary of a full-time CFO, which generally lies around $300,000 per annum. So, it is better that you hire a short-term CFO as and when the need arises.
15. What kind of customers do you provide services to?
We do not judge or scrutinize our clients on the basis of their revenue and allow businesses from all industries and domains to work with us.