In today’s competitive times, it is imperative for businesses to have timely, up to date financial advice. In this context, especially Small and Medium Business (SMB) promoters find it tough to get expert CFOs who will partner with them to plan daily cash flows, monitor budgets, manage receivables and payables and develop timely and incisive MIS reports, the absence of which can spell disaster for the business. CFOs cost a bundle and most SMBs cannot afford their services. SuperCFO’s Virtual CFO solution offers SMBs a vital avenue to get expert CFOs at sharp costs backed by an able back office managerial support, and cutting edge analytics powered by SuperCFO BI.
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Virtual CFO - A unique proposition!
1.
2.
3. I don’t need a Business Plan
My Business Plan needs to be perfect before I start my business
I don’t need a loan or anyone’s money. So I don’t need a Business Plan.
My Business Plan is in my head. I don’t need to write down.
It is very complex to prepare a Business Plan
Few Myths
5. Action Points
• Budgeting – Organisation wide philosophy
• Planning and Detailing
• Involvement across all levels
• Budgeting Process
• Budgeting Calendar
• Tracking Performance vs. Budgets
• Latest Thinking Forecast
6. Sharing Experiences
• Case Study #1: Eye Opener of costs in business
• Case Study # 2: Equity dilution to foreign partner
• Case Study #3: New Division – without evaluating Cashflow and
Collection Risk
• Case Study #4: Business Strategy – Exit from one business
category
7.
8. Best Practices – Cost Management
• Authorisation Matrix
• Defined Policies & Procedures
• Close Monitoring & Management Audits
• Analytics and Regular Reviews
• Process driven vs. people driven
• Efficient Cost Management
• Profitability and Growth
Benefits
9. Sharing Experiences
• Case Study #1: Rentals – Measuring Chargeable Area.
• Case Study #2: Employee Exps – e.g. Business Development
Lunch
• Case Study #3: Lawyers Bill – Billable Hours
• Case Study #4: Support Services Provider – Cafeteria /
Transportation, etc.
• Case Study #5: Travel – Cost vs. Frequent Flier Miles
• Case Study#6: Banking Operations – OD / CA Utilization
10. Best Practices – Cashflow Forecasting
• Rolling Cashflow Forecast (13 weeks/52 weeks)
• Detailing is essential
• Daily/Weekly/Monthly
• Monitoring actuals vs. forecasts, at regular intervals
• Insights
• Control
• Resources Planning
• Funding Strategy
Benefits
11. Sharing Experiences
• Case Study # 1:
• Restructuring through daily cashflow management
• Navigating through tough times – estimates to Vendors on
payments
• Case Study # 2: Receivables Management
• Deploying a practice followed by Cr. Card Cos.
• Dedicated Receivables Management Team
• Escalation Matrix, Credit Check
12.
13. Discipline
• Robust Accounting & Reporting Systems
• Finance Calendar
• Compliances Calendar
• MIS Reporting Calendar
• Budgeting/Forecasting – Review, Calendar
• Business Strategy Meetings
• Month Close Checklist
• Clear Role Definition of Internal Audit vs. Statutory Audit
• Weekly Finance Review – Be it Cashflow, Compliances, Sales, P&L
• Bank/Investor Reporting
14. CEO Checklist (Illustration) – Part 1
Weekly
Revenues Billed for the last 7 days,
Cumulative & Updated Estimated Revenue for the month vs.
Target
List of Debtors, with ageing
Cashflow
Monthly
P&L, Balance Sheet and Cashflow vs. Budgets
Performance of each division vs. targets and agree on next steps
Sales MIS, and various Expenses MIS (Travelling, Repairs, etc.)
Top 10 Client Profitability (increase this count gradually)
Profitability of new clients (acquired over last 6 months) against
plan
Exceptional Expenses, Commitments, Payments
Statutory Compliances
Bank Reconciliation
New contract documentation status
Sales Pipeline
HR MIS in detail – entry, exit, initiatives, concerns, etc.
15. Quarterly
All items covered in Monthly Review
Trial Balance
Complete list of clients and reviewing billing undertaken, pending
Financial Ratios – GP%, EBITDA%, CA/CL, Debt/Equity, DSO,
Revenue/Employee, Attrition
Analyse Client Revenues to see dropping trend
Detailed Review of performance of each department
Review Client Contracts up for Renewal over the next 90 days
Tentative Incentive Calculations / Accruals
Any Advance Tax Liability / TDS Refunds
CEO Checklist (Illustration) – Part 2
Annual
All covered in Quarterly
Audit Preparedness
Tax Computation
Budgets for the next year
Annual Performance Appraisal and Goal Setting
Random Spot
Checks
Fixed Assets Register
Leave / Attendance Register
Purchase Orders
Expense Vouchers – if appropriate documentation attached
Client Invoicing – information being sent with invoices
16.
17. Key Points
• Good quality reports can provide great business intelligence
• Discipline in circulating, as per agreed Reporting Calendar
• Innovation and Analysis
• All parameters should be reviewed
• Culture across the company
18. MIS Reports
• Daily, Weekly, Monthly Sales Reporting
• Monitoring Sales Pipeline
• Profitability Reports – by Segment, by Product, by Client, by
Geography
• Product Costing and Client Pricing
• Balance Sheet Analysis
• Receivables and Payables Ageing & Analysis
• Key Ratios
• Bank Covenants
20. MIS Reports – Smart Dashboard
Click here for Sample CEO Dashboard
21. Comprehensive Dashboards
For Smart CXOs.
Convert your business data into
smart & intelligent analytics, in a
few quick and easy steps.
BI.SuperCFO.com
• Business Dashboards.
• Print, Export and Email.
• Collaborative Analysis.
• 'Spreadsheet-Like' Interface.
• Visual Analysis.
• Upload Any Data.
Salient Features
• Smart Reports
• Multiple Reporting Components
• ‘Spreadsheet-like’ Interface
• High Security
• Simple, yet Powerful Data Relationship
Management
22. Sam and John were best friends from school days. After graduating
from college, both started their own business. That's where the
similarities ended.....
View the video to find what happened, and how their destinies
changed.
Story about Sam & John