CFO Services in Pakistan
Cost-Effective Skills & Experience – On Demand
The Chief Financial Officer’s (CFO) role in a business is a vital one where they are primarily responsible for directing the company’s financial management, usually with a strong team of accountants and bookkeepers to support them.
They report to the CEO and the board of directors in large companies and are second to the CEO in most senior management structures. In large companies they often earn six-figure incomes with a generous package of benefits. So, they are certainly not humble bookkeepers.
Of course, they have a number of other responsibilities which fall into four broad headings:
- One of their most important tasks is to ensure the veracity and inclusiveness of the company’s business accounting information, which is the basis for the company’s Audited Financial Statements. The CFOs job requires sharing information with senior management in order that all decisions made are based on solid data which has been reviewed and analyzed.
- It’s the CFOs responsibility to provide accurate financial information to the CEO, the board of directors and top-level management. The information will include in-depth analysis and the potential impact on the company as well as any regulatory requirements of any decisions they make.
- One of the main areas a CFO is responsible for is compliance, which includes tax calculations and payments, mandatory government fiscal reports, public financial announcements and reports to shareholders. This is a very complex and critical area which takes up a large proportion of a CFOs time.
- At every level of management in a company, informed decisions can only be made if they are based on current financial information supplied by the CFO. The CFO has the responsibility of deciding who has access to the data in order to preserve the security of company financial data.
Since most small and medium businesses are unable to afford a full-time CFO, especially in the early stages of building a business, which is an anomaly because that’s exactly when a business needs good financial direction. This is where Push Digit’s CFO service is an amazing benefit for every company, no matter what size they are, to have the value of an on-board CFO at a very affordable hourly rate, just when you need it most.
What Will a Outsourced CFO Do for my Company?
A Push Digits Outsourced CFO will:
- Create business tactics to enhance your vision and objectives for your company.
- Guarantee that your business complies with all local regulations, statutes and policies.
- Review the current global economic outlook. Implement cost savings with automation and Artificial Intelligence (AI). Our CFOsare all technically knowledgeable with the skills and experience to evaluate and introduce new systems to improve the productivity and cost effectiveness of your operation.
- Remove hurdles in your push for change by embracing new technologies like the installation of cloud-based ERP software.
- Deliver regular, precise financial data with proposals for both operating and strategic levels.
- Constantly review the financial pulse of your company and advise business management on the implications of all company financial actions.
- Implement strategic management processes. Coordinate and incorporate the actions of all areas of a business to achieve the company’s long-term objectives.
- Manage cash liquidity so that your commitments will always be met.
- Carry out detailed in-depth evaluations of potential mergers or acquisitions and provide exceptional recommendations with detailed financial modelling, using sensitivity analysis.
- Overview the veracity and inclusiveness of your business accounting information, which is the ultimate basis for the company’s Audited Financial Statements.
- Review, analyze and interpret the company’s financial information for managers, the board of directors and relevant stakeholders.
- Review and analyze your company’s financial control procedures. Improve vulnerable areas by changing the restrictions or substituting them.
- Review and analysis of the company’s historical financial information then compare the data with current and potential results to effectively manage risks and identify potential new financial and business openings.
These are just some of the benefits you will enjoy from having a Outsourced of part time CFO on board.
What is the Process?
Your part time CFO can be available to you to suit your specific requirements and budget on an agreement from annually to hourly or anything in between.
Our CFOs are experienced, qualified Chartered Accountants and financial specialists with high level knowledge gained while working in large corporations around the world.
The distillation of all their experience brings knowledge and a business edge to your company by assisting and guiding you, by maximizing your skills so you achieve your company goals.
What do They Deliver?
They will work with you to make your company more dynamic and efficient and more importantly help to reduce business risks by bringing their skills and experience to your business.
Your business will benefit by working with a financial specialist who will balance your enthusiasm to follow every new idea, with an expert in-depth analysis then work with you to select the opportunities which offer the best chance of success and profit growth.
Controlling the Cash
Cashflow is critical in every business no matter the size as without cash even a very profitable business could fail. Our CFO will evaluate your business, detect weak points and remove them or improve systems to ensure keep your cash flowing on time in future.
Funds for Expansion
If you are seeking openings to grow your business, a CFO will assist identifying tactics to attract the best financing to develop your business. They will determine what is right for you.
CFOs are experts in assessing the financial wellness of your business and on the basis of that, predicting the future of your operation. It’s not guesswork rather accurate analysis and skilled predictions based on solid data. This will give you a view of your potential and how it will look.
How to Plan the Best Exit
On that basis, perhaps you are looking to sell your company and retire or choose a new venture, your outsource or virtual CFO will assist you with planning your exit plan to ensure your get the maximum return for your efforts. They will advise on the best timescale and plan for your sale.
But Wait There’s More…
These are only a snapshot of what a virtual CFO could do for your business and making the maximum use of every minute together will give you skills that will last for the rest of your business life.
They can offer advice on strategic planning, advice on managing acquisitions or disposal of assets, as well as reviewing business plans or system implementation and their inherent weaknesses or problems. When you obtain our CFO services, we even interface with investors as your Liaison Officer, often considered part of the CFO’s function.
They can work with your board of directors, have input on major company decisions, prepare and deliver financial reports. Create budgets and financial predictions, plans and carry out reviews of all your business activities then report to you on any areas which require attention.
If you’re outside Pakistan, our CFO is still available to you anywhere in the world 24/7/365 using Push Digit’s video Conferencing suite. No matter where you are our CFO will be right there alongside you the same as though they were in the same room.
Is it Affordable?
The cost of a CFO can be $160,000+ a year plus all the ancillary costs that go along with such a senior appointment, but those costs don’t apply to you. All you will pay for is the experience, skills and knowledge that our CFO will bring to you. He or she will be available to you according to your needs and the costs will balance in line with that.
You could save between 80% and 90% of the average costs related to signing up your own full-time professional CFO. Money that you can reinvest in your business to enable it to develop and flourish.
Imagine being able to email or call your CFO with a question, whether it’s a simple thing or a complex one, then getting a response with the answer shortly afterwards?
The answers you’ll receive will be correct and based on the long experience and knowledge of your CFO. That enables you to get on with other things instead of being stuck and that is a direct benefit to your business. Time saved is money saved.
Doesn’t that sound like a sensible way to go?