Page 5 - 10 Most Promising Virtual CFO Service Providers 2020

United States, VCFO services are typically used by small to medium-businesses with annual sales in
excess of $1 million.

The primary role of a chief financial officer in any organization is to oversee the financial planning,
maintain and report on the financial activities, and manage financial risk of the business. A virtual
CFO provides the same services but since the common clientele of a virtual CFO are small businesses
and startups, there are certain more services that are expected of them. Services offered by a virtual
CFO often follow the financial pyramid of needs. In the basic level, a virtual CFO is expected to be
the bookkeeper of the client and has to take responsibility for the accuracy of the account books and
interpret the financial information from the accounting data to the client. They make take responsibility
for executing or overseeing the reporting process. On the more strategic side, they are the financial and
strategic sparring partner from the CEO. They are also responsible for suggesting measures to control
expenditure and acquire capital at low cost.

Small companies may need a controller on a weekly or fortnightly basis. Virtual CFOs also offer one-time
help with strategic transactions, financial processes, business plans and budgeting.

There is currently no official requirement as to the qualifications that a virtual CFO should hold.
However, it is generally expected for a virtual CFO to have finance related university degree, professional
accountancy qualification and sufficient relevant experience.

In addition, virtual CFOs can obtain the Qualified Cloud CFO (QCCFO) professional certification provided
by the International Association of Qualified Cloud Accountants (IAQCA) that is specifically focused on
the knowledge that financial professionals need to deliver their services within the Internet and Cloud
environment.

‘In this special issue, we have introduced 10 Most Promising Virtual CFO Service Providers – 2020 in
order to assist business to choose the right companies. We have featured Arthtech Consultants Pvt. Ltd.
as the cover story. It specializes in the use of emerging techniques and practice for developing nation.

We have introduced profiles of Aria CFO Services, elEVAte Business Solutions, Gold Ocean Capital
Advisors, KayOne Consulting, LeanFlo Inc, NEXGEN CFO, Soatech Solution, Spice Route Finance and
Trackball Consultancy

Our in-house editors have come up with some adroitly written articles such as –

“What Changes Are Coming To The CFO Role”, “The Role and Responsibilities of the Modern CFO” and
“Good Chief Financial Officers Focus on Much More Than Finance”.

- Pallavi Sabe

Pallavi Sabe
Editor-in-chief