Businesses that employ outsourced CFO services benefit from having a thorough understanding of latest financial strategies and improved accessibility to a multitude of industry experience that increases the company’s worth. A Chief Financial Officer (CFO) heads the finance function of a company and their responsibilities are far more than just accounting/bookkeeping. A CFO plays a vital role in focusing on key strategic areas of the company, such as:
- Budgeting and forecasting the company’s financials
- Involve in formulating the company strategy with the management team
- Financial performance review (against budget, competitors and overall market)
- Design the financial processes and management system
- Design and monitor the corporate governance system
- Keep up with the latest regulatory and tax updates
- Seek funding for the company’s expansion either through debt or equity
The difference between making profits and losses lies in the qualifications of the CFO. WeCorporate’s Outsourced CFO services gives you access to a high quality, all-in-one professional team without the huge overhead costs of employing a permanent CFO.
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10 Reasons To Hire WeCorporate as Your Outsourced CFO Services Provider
1. Expert Advice at a Fraction of the Price
WeCorporate’s outsourcing CFO services can provide small and medium-sized enterprises (SMEs) in Malaysia with expert financial advice, beyond what your accountants and bookkeepers are able to offer. This expertise is provided at a fraction of the cost of a full time CFO employee.
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2. All-in-One Service Provider
Our outsourcing CFO services is not performed by 1 individual but rather an experienced team from a variety of backgrounds (accounting, tax, legal). Hence, all your financial requirements will be well taken care of by only having to deal with one professional team. No more worrying about whether your books are up-to-date and accurate.
3. Cash Flow Projection
Our outsourcing CFO services can conduct an analysis of your company’s expenses & profits and plan strategies to deal with any financial challenges and improve the businesses performance. As a business owner, you have to be confident in the decisions you make for the company. The accuracy of your reports and total visibility allows you to make tough calls.
4. Scale Your Business through Strategy & Planning
WeCorporate’s Outsourced CFO services is able to help you create a company strategy and business plan/forecast. Our outsourcing CFO will focus on current performance needs, long-term strategic planning and guidance with tailored solutions, specifically designed to take your business to the next level.
5. Proactive in Growth/Exit Strategies
WeCorporate’s outsourcing CFO services can help you prepare all the necessary documents, business plans, forecasts etc to raise funding for growth, or prepare the business for sale/IPO. This valuable experience and expertise can help you achieve a significant premium from a sale and more favourable lending/investment terms.
6. Accurate & Timely Financial Information
Our outsourcing CFO services will ensure that you are receiving accurate and timely reporting/financial information. Your financial statements and other critical financial documents are reviewed by an expert, so you can be sure that information is correct.
7. Independent and Objective View
WeCorporate’s outsourcing CFO services will play a critical role in shaping the direction of your business, question conventional thinking and challenge your business to continuously improve. We offer a fresh, objective view of your company’s financial situation.
8. Process Improvement
WeCorporate’s outsourcing CFO services can assist in modernizing and streamlining accounting systems and processes to save both time and money. Freeing up time for both you and your employees, you can now focus on your strengths and passions to drive business performance more effectively.
9. Specialized Restructuring Advice
If a company is going through major change, whether restructuring for growth, or redirecting the company’s trajectory, the CFO functions required may be highly specialized and temporary, rather than general and long-term. In these situations, businesses do well by bringing in an outsourcing interim CFO who can focus on these specialised tasks.
10. Emergency Engagement for Stability
On emergency occasions where a company has its own CFO, there can be instances in which they are dismissed or have resigned. If this happens suddenly, the company may find it hard to immediately secure a suitable long-term replacement. In such times, WeCorporate’s outsourcing CFO services can be an effective and temporary way to retain consistency and ensure business continuity.
Who Should Use Our Outsourced CFO services?
1. Unreliable In-House Finance Department
Very often our clients engage WeCoporate’s outsourcing CFO services when their finance department is either unable to keep up to date with the latest accounting and tax regulations, latest accounting software or they are a one-person finance team and there is high flight risk which would affect the business continuity. Your data is always kept confidential at WeCorporate.
2. Aspiring Successful Entrepreneurs in Malaysia
Your business is taking off and you have a lot of balls in the air – entrepreneurs in Malaysia simply don’t have enough time to handle budgeting, forecasting and analyzing financial results simultaneously. Our outsourcing CFO services can help free your mind from the worry of your business finances while you grow your business.
Related Read: 4 Reasons Entrepreneurs Choose to Setup Sdn Bhd in Malaysia »
3. Business Owners Of SMEs in Malaysia
You know your customers and your services and/or products inside and out, but you’re less focused on dissecting the financial side of the business. As a result, SMEs in Malaysia sometimes make decisions based on instinct, instead of financial data and other objective inputs that are important. With total visibility of your finances, SMEs in Malaysia can feel confident and make more informed business decisions.
Related Read: 4 Norms by Covid-19 that SME Accountants Should Be Ready For »
4. Start-Ups Funded by Venture Capital/Private Equity in Malaysia
As start-ups in Malaysia, you have raised funds to expand your business and you need to update your investors about financial performance regularly (i.e. profit margins, customer acquisition costs and other key performance indicators). However, you are not sure how to put that together and are too busy on the sales and operations.
5. Business in Crisis
Your business is not doing well and need financial experts to advise on a range of issues such as bank financing, negotiation with suppliers, discussion with employees on changes to remunerations, fundraising etc.
How can WeCorporate’s Outsourced CFO services Help your Company?
The role of a CFO is essential for a company wanting to grow to the next level or is currently facing critical issues with strategy and financial management.
Usually, only companies above a certain size can afford a qualified CFO, given that it is not easy to recruit an experienced CFO and it costs too much for a growing company (as a CFO usually costs above 5 figures monthly salary). With WeCorporate’s Outsourced CFO services, there is a way now to get access to talents with similar CFO capabilities.
At WeCorporate, we have a team of experienced professionals from a variety of backgrounds (accounting, audit, legal, tax, financing) who have all worked in big-4 Accountancy firms, multinational companies and financial institutions. As such, they are in a better position to advise you on strategic and financial management issues. In addition, we have a highly competent and efficient in-house accounting and tax team who can assist you on day-to-day finance functions.
With WeCorporate’s team of professionals, we can confidently say that our Outsourced CFO services can help you to achieve the financial transformation/objective you are pursuing at a much lower budget.Talk to our experts today to take your business to greater heights!
FAQs
- Unlike hiring a permanent CFO, you will not incur any overhead costs with outsourcing CFO services.
- There are 10 reasons why WeCorporate is a qualified outsourcing CFO services provider. We help your company in these following ways:
- Expert Advice at a Fraction of the Price
- All-in-One Service Provider
- Cash Flow Projection
- Scale Your Business through Strategy & Planning
- Proactive in Growth/Exit Strategies
- Accurate & Timely Financial Information
- Independent and Objective View
- Process Improvement
- Specialized Restructuring Advice
- Emergency Engagement for Stability
- The following categories can seek our outsourcing CFO services to enhance financial performance in the long-run:
- Business with unreliable in-house finance department
- Aspiring successful entrepreneurs in Malaysia
- Business owners of SMEs in Malaysia
- Start-ups funded by venture capital/private equity in Malaysia
- Business in crisis
- At WeCorporate, our team of financial experts will provide you with advice on key business areas such as bank financing, negotiation with suppliers, discussion with employees on changes to remunerations and fundraising.
Engage our Outsourced CFO Services now!
Our team of accredited professionals will take care of your CFO services.