Can you imagine a company without a CFO? Not really, but lately, outsourcing the CFO function is trending amongst firms to improve financial discipline. This is empowering entrepreneurs, as Peter Drucker, the father of management said, “Do what you do best, and outsource the rest.” Why is there a rise in shared CFO services? Why are startups, SMEs are hiring virtual CFOs? ETCFO explores.
Can economic slowdown boost demand for outsourced CFOs?
The purpose of a CFO is maintaining financial stability and driving growth. While hiring one can be debatable. Some understand that they are responsible for bringing in profits, while others don’t even hire one, citing budget issues. Of late, on-call CFOs have become a trend, who are not considered that big an expense.
SMEs face both internal and external challenges: Bhairav Kothari
The challenges faced by the most Small and Medium Enterprises (SMEs) in India can be split into two: external and internal, said Bhairav Kothari, Founder and Managing Director, SuperCFO.
In an interview to SME Times, he said, “‘External Challenges’ are like access to credit, poor infrastructure, hassles with regulatory compliances, etc. And ‘Internal Challenges’ are like creating second level of leadership, driving the business with strong financial reports, planning & strategy to take the company to the next level, etc.”
Fintech is a booming industry especially after Modi government’s demonetization step. This week we interviewed Bhairav Kothari, Managing Director of SuperCFO. Mumbai based SuperCFO specializes in Freelance, Virtual, Outsourced, Interim, Special Purposes and Full Time CFO Solutions. SuperCFO closely works with several Private Equity funds in assisting their portfolio companies with smart CFO solutions. Established in 2008, SuperCFO is the pioneer of this concept of CFO Solutions in India.
Small businesses, especially early-stage start-ups, consider outsourcing financial strategy to virtual CFOs as they lack wherewithal to employ a full-time CFO. It is here that the concept of a virtual CFO becomes important. Bhairav Kothari, founder of SuperCFO, a leading provider of Virtual CFO Services in India for over 10 years, shares his views.
Due to SuperCFO’s increased activity in the Auto space, we were recently contacted by the Leading Auto Component India Magazine for a featured interview with our Founder Mr. Bhairav Kothari to share how other SMEs can leverage services of a virtual CFO to operate in these challenging times.
In the interview, Mr. Bhairav Kothari shared his views and expertise on how companies that are experiencing stagnant or low-growth can break the barriers to growth by availing varied Super CFO services that strengthen entire value chain and ultimately scale.
You can find the interview in the April 2017 edition of the Auto Component India Magazine and can also read the interview from the shared Image. Do contact in case of queries or suggestions.
SuperCFO ventured into the Singapore market in 2016
SuperCFO ventured into the Singapore market in 2016, after it saw a considerable gap in the supply and demand for CFOs and senior finance professionals. SuperCFO offers virtual, part-time CFO services to SMEs and Startups based in Singapore operating in varied sectors ranging from retail to manufacturing to technology firms. We also engage with leaders of multi-nationals and Group CFOs to execute one-time projects or assignments. The Strait Times, Singapore’s leading daily did an exclusive story on the emerging trend of part-time CFOs and interviewed Mr Alagappan Perianan, Managing Director of SuperCFO Singapore operations, to understand how corporations can benefit from availing SuperCFO’s part-time CFO services.
Bhairav Kothari, SuperCFO’s Founder, shared his views on the India’s Union Budget 2017. Bhairav viewed the budget to be overall positive and one which gave greater impetus to the digital economy. In his views, he also hailed the Government for abolishing the Foreign Investment Promotion Board (FIBP) and further opening up of India’s economy. Bhairav’s comprehensive view of the budget was well taken by India’s leading national and regional dailies ranging from Business world to ET Gujarati to Sandesh. Read the full text from various publications here:
Business Today: Who is to be blamed – Mohan or the Start-up?
Mohan, a young executive in his late 20s, was happily earning around 1 lakh per month, until he received a great job offer from a start-up. His salary doubled to Rs 2 lakh, and he also received a good number of ESOPs.
Article written on 5 Tips for managing business through finance by Bhairav Kothari, published by Sandesh – Gujarati Newspaper
All successful businesses (globally), have a strong finance function, and that differentiates the best from the others. Here are 5 quick tips to managing and building a good business, utilizing some of the best practices in financial management
Live mint: Transfer pricing case: Vodafone gets relief from Bombay HC
Bhairav Kothari, Managing Director of SuperCFO provides his views on the judgement: “It needs to be seen if the department abstains from appealing this in the Supreme Court. Investors globally are tracking this case.
SuperCFO has bagged Finance Monthly Global awards 2015 in the category of Freelance CFO firm of the year. The annual Finance Monthly Global Awards, instituted by UK based Finance Monthly magazine, recognize the outstanding qualities of companies and individuals who have delivered the highest quality results within the corporate, financial and legal sectors.
Here is a new field of entrepreneurship – providing financial services to startups and even established businesses in the role of a freelance chief financial officer ( CFO ). One such agency that has taken the lead in bringing this concept to India is Mumbai’s SuperCFO founded by Bhairav Kothari, a Chartered Accountant.
Here’s how start-ups in India are getting sound financial help!
Start-ups are on a great start in India. As they climb up the ladder gradually, their need for a sound financial advisor becomes imperative. It is generally then that the company starts scouting for a Chief Financial Officer (CFO), which is crucial but a very expensive task
Business Today: Clearing a few myths around business planning
As part of my job, I get ample opportunities to meet several entrepreneurs every month. Once we get talking about best practices towards building a strong finance function, I ask them if they prepare detailed budgets every year, if they prepare LTF (Latest Thinking Forecast) every month, basis actuals and new facts with respect to business forecasts. But invariably, I end up facing some of the entrepreneurs’ myths that they harbour. I hereby present some of these common myths along with responses.
Article written on the importance of Sell Through Ratios for Retail Business by Bhairav Kothari, published by Business Today.
All businesses have a few important KPI’s (Key Performance Indicators) and if you track them carefully, a lot gets addressed automatically. Sell-Through ratio is one such important tool to understand the intricacies of a retail business.
A virtual CFO is the best option for SMEs to build their finances with quality talent. A typical entrepreneur, while building his business, has several serious organisational issues to grapple with on numerous fronts. One of the most critical is to ensure that his business generates cashflows for managing day-to-day operations. As many an entrepreneur has discovered, it is cash rather than customer who is king.
Bhairav Kothari ( Founder, SuperCFO ) in an Exclusive Interview with The Global Analyst.
Redefining the CFO Services Space. If you’re a start–up or a SME, who always dreamt of hiring a CFO, but felt constrained due to paucity of funds, don’t worry. For, help is around the corner. Bhairav Kothari ( Founder, SuperCFO ) in an Exclusive Interview with The Global Analyst talks about redefining the CFO industry by helping small businesses access professional CFO Services without spending a fortune!
Bhairav Kothari (Founder, SuperCFO) – Interviewed by Saraswathi Pulluru, Journalist with The TechPanda
In this freewheeling chat with Saraswathi Pulluru of Tech Panda, Bhairav candidly talks about his journey as an Entrepreneur and shares his plans for launching a fully integrated, customizable Business Intelligence Solution Platform targeted mainly towards the global Small and Medium Business sector, later this year. He also shares some thought provoking ideas on the path a budding entrepreneur should take in order to be successful and the mistakes to be avoided…
The concept of “anytime”, anywhere high quality finance professionals, otherwise known as Virtual CFOs, is catching up now in India. SuperCFO has been a pioneer of this unique business model where companies who do not have the wherewithal to hire a “fulltime” CFO, hire top class CFOs from firms like SuperCFO who not only assist CEO’s and Entrepreneurs with strengthening their Finance function, but also act as strategic partners in growing the business. The prominent business fortnightly, Business Today, from the India Today group features a discussion with Bhairav Kothari on the salient features of a Virtual CFO service offering and its benefits to SMEs and mid to large corporations as well in building robust accounting processes and systems. Among many facets discussed in the article, Bhairav talks about how a CFO is like the Kryptonian Superman who appears unassuming and modest but when push comes to shove, shows his inner prowess to the financial world. Bhairav also reveals that a CEO and a CFO are the most important cogs of an organizational wheel, who have to work in close tandem with each other if the strategic vision of a company has to be realized. Read on to find out more about the world of Virtual CFOs.
Entrepreneur Magazine: CFO: Engine of the Finance Function
Ever wondered how some companies are able to raise substantial debt & equity funds, and grow organically as well as inorganically, rapidly? Ever wondered how some organizations are able to manage crisis far better than the industry average, when the going gets tough? The answer…
The Economic Times: Corporate Governance norms for SMEs
Corporate governance among SMEs has been absent for the most part. They cannot be blamed when even some of the bigger firms lack it. But now some steps are being taken which can radically alter the scenario. Recently CB Bhave, Chairman, Securities & Exchange Board of India (SEBI) released a White Paper on Good Governance, Business Ethics and SME Stock Exchange, prepared by SuperCFO Services, to create awareness about Good Governance as well as to highlight benefits to SME’s by becoming a public company on the proposed SME Stock Exchange…
Bhairav Kothari (Founder, SuperCFO) – Interviewed by D. Murali, Deputy Editor with The Hindu Business Line
Watch Bhairav Kothari, Founder of SuperCFO, share his insights on the potential of SME’s and why Audit Committees & PE firms like his services, in an interview with Mr. D. Murali, Deputy Editor, The Hindu Business Line…
Knowledge and talent when it comes to finances is an integral part of an entrepreneur’s journey. However the financial ballgame can always use a bit of professional expertise especially when an entrepreneur is just beginning to grasp the full potential of his startup…