CFO Services
Our CFO services are ideal if you are planning for a major organizational change. If you are up to a financial restructuring of your company, CFO services would always come in handy. We have perfectly optimized and customized options to meet your specific needs based on your priority.
A CEO of a business may not have adequate time to effectively contemplate on the financial and accounting matters concerning the business. He/she usually invests the vast majority of the time and resources dealing with the core company issues. However, accounting and finance matters serve as the cornerstone of a business. Overlooking the financial aspects may adversely affect the business prospects. And this is the juncture at which the business needs the assistance of a CFO or Chief Financial Officer. The Chief Financial Officer supervises the key financial aspects of a business establishment like planning, recording and reporting on monetary transactions, and taking care of the risk associated with business management. Our CFO services are ideal if you are planning for a major organizational change. If you are up to a financial restructuring of your company, CFO services would always come in handy. We have perfectly optimized and customized options to meet your specific needs based on your priority.
The CFO also offers valuable advice and recommendations regarding the regulation of expenditure and cost-effective revenue generation. The business either hires a CFO professional to manage the financial and accounting requirements or outsource the job to a credible CFO service provider.
Our CFO Services
- Frame Business strategy and Action Plans
- Accelerate their Implementation
- Prepare Annual Budgets and Performance Management Discipline
- Prepare MIS reports as per the management requirements for making the decision-making process easier
- Prepare and implement proper cash flow policy
- Setting up of internal control procedures to enhance the efficiency and productivity of each department.
- Timely management information to improve decision-making
- Create budgetary control measures
- Enhance financial discipline in Working Capital Management
- Better understanding of your business finances and cash flow
- Professional guidance for your business planning and forecasting
- Review contracts and ensure that the terms and conditions are made beneficial for the organization.
- Budget preparation & monitoring
- Training and support for your accounting staff
- Set up and handle insurance revisions and reduce the risk of unexpected loss in future
- Cooperation and negotiation with bankers, attorneys, and other business associates
- Enhance the debt collection and proper management of cash flow.
Responsibilities of a CFO
A Chief Financial Officer is mainly responsible for managing the day-to-day business activities related to the finance, accounting, and tax aspects, etc. An efficient CFO will be strategic, progressive, and constantly predicting future cash flows and financial performances. The forward-looking services of a CFO help to identify and address the requirements of resources and financial aspects well in advance to give a positive turn for your business. A CFO has to function the following responsibilities in the company:
Manages the cash flow of the company
Plans and manages the financial actions of the company’s performance
Analyzes the financial strengths and weaknesses of the company
Proposes corrective measures for the improvement of the company
Ensures the record-keeping of the company as per the legal and regulatory requirements by the Federal Laws and Accounting Standards
Helps the CEO in decision making
CFO is always the focal point for all finance-related action
FAQs
Ask
Please refer the queries below or contact us for more details.
How CFO services bring added values to your company?
Our CFO services in Dubai, UAE will uncover ideas and means to improve the cash flow and profitability of your organisation. The professional CFO consultants of CDA are competent in analysing financial strategies, controlling costs, improving the productivity of your business.
a) CDA helps to develop the company more swiftly:
We scrutinize the prevailing financial position of the company and the market trends also. This enhances the financial strategies and enlivens the cash flow and turnover of the company. At the same time, we keep a cap on the price tag. Our analytical reports and custom-made financial reports help the management to identify the bottleneck areas and take corrective measures.
b) CDA helps to improve productivity:
CDA helps a company to control the expenditures, improve production, and examine and suggest pricing policies. Analyzing the past and current financial reports, we implement measures to control the cost and increase the profit. With the help of the financial report, we can analyze the net income and give proper guidance for the best possible pricing plans for the products or services.
c) CDA helps to improve the cash flow:
We analyze the whole procedures and manage the cash operating cycle (COC) of the company to improve the cash flow. Thus, we can help the company advance collections, pricing, and improve the liquidity position by better credit collection from debtors and negotiated credit period from suppliers.
d) We help companies to acquire maximum advantage from the banks:
We help our clients obtain from the bank’s maximum endowment needed for their companies to grow. Since a CFO is an accountable person to handle the financial operations of the company, he or she can easily communicate with the bank in financial language. His better communication skills and confidence-building measures can boot up the cash need.
CDA always models the finance structure of any organization which will help to increase the liquidity position. As a result, the banks will always intend to have a better relationship with such firms.
In an emerging market like Dubai and in the UAE, all companies intend to get Finance or facilities from banks. Here the CDA CFO specialists will help you to prepare the financials according to the bank requirements.
e) We provide leadership and direction:
We offer better ideas and display and sell the financial picture of the company whenever it is asked by the CEO. We forecast the future of the business and think strategically about the potential growth and prosperity of the company.
f) We help and guide the CEO
In addition to the finance role, a CFO acts as an efficient Chief Operating Officer, who can help and guide the CEO in decision making using the financial report.
When should a company avail professional CFO services?
- As already discussed, you may avail a professional CFO service at the time of organizational changes or financial restructuring of the company.
- If investors demand a professional and dedicated CFO service due to financial inadequacies.
- The company cannot focus on income generation due to financial mismanagement or employee-related issues.
- When the company is planning for business expansion but lacks expertise and experiences employee-deficit.
- When the company experiences a lack of control over various financial parameters.
- When the company goes through an extremely tough phase that demands financial considerations and strategic decisions.
- When the company needs improved and quicker monetary data for the purpose of making choices, and satisfying regulatory prerequisites.
Is it possible to outsource the complete Finance Department to the Third Party?
Yes. In the current growing and competitive economy, it would be difficult to manage the accounting activities within the company particularly for start-ups or SMEs. These businesses would not be having a finance department of its own and may need to recruit staff. We serves the accounting function, where we manage all the activities in a finance department from data entry to the generation of reports at an affordable cost. Hence on outsourcing, businesses save their time and save costs of recruiting new staffs. Outsourcing the finance function helps to improve the productivity of the economy.
What are the services included in CFO services?
CFO services provide the following expertise: (i) Overseeing and designing the accounting procedures, systems and controls, (ii) Training and supporting the staff within the finance department, (iii) Assistance on VAT, (iv) Preparing and monitoring the budgets and projections, (v) Regular reporting that supports businesses to make the best decisions,(vi) Cash Flow analysis
What does CFO stand for in Business?
CFO stands for Chief Financial Officer.
What are the benefits of outsourced CFO services?
CFO services will help in accounting and business tasks.Some of the benefits to highlight – Save money along with experiencing the quality of work, Ensures internal controls are in place, Timely reporting on the financial performance, Managing the cash flows, Develop a good team of accountants.
How does a CFO function in a small business?
CFO services offer small businesses financial expertise at an affordable rate.Some vital services to jot down -Suggests tips that help in improving your business, Preparing financial statements and interpreting them, Preparing reports relevant in making decisions for your business, Assists in budgeting and forecasting, Monitoring your progress against prepared budgets for any variances.
We already have a good bookkeeper/accountant, which seems to work just fine. Why would we also need a CFO?
An outsourced CFO service would give you an independent review on the bookkeeping and accounting maintained within the finance department. This would give you the confidence to rely on the figures presented before you. Also, with regards to reporting, the CFO will bring all the reports that are necessary for your business. The CFO can help in more strategic decisions and implement control procedures.
Have some queries?
Yes. A CFO develops a trustable relationship with the key personnel of your bank and provides all the reports and requirements required, to crack the best deals for the banking facilities.
Can a CFO help for bank facility?
Our expert will help you in choosing the best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at consultants@berkeleyme.com