- This is also referred as Outsourced CFO services or fractional CFO services.
- This is accomplished by outsourcing the tasks that are normally performed by CFO to a highly qualified and experienced professional who is not an employee of the company.
- It is referred as Virtual, as most of the tasks are performed offsite though modern means of communications combined with specific hours to be spent at company site.
- This is in the nature of Business Process Outsourcing services which is very commonly practiced in most places and evolving in UAE.
- This arrangement achieves services of Highly qualified and experienced professional but at a fraction of the cost.
How does it work
- Fixed number of visits / hours to company site is agreed to accomplish tasks that will require personal presence.
- Through email and phone consulting and advisory services are provided within the agreed and committed time with responses and decisions within agreed SLA
- A fixed retainer fee is agreed to cover set of tasks . Though these can be worked out based on the company needs scope of mandate normally covers the following areas
- Being part of management board to take key decisions
- Designing company governance and policies
- Guiding accounts staff for structured accounts and financial reports, Audit.
- Monthly financial and operational reports, Red-flag reports with solutions
- Treasury management Dashboard
- Commercial contracts and legal front ending.
- Company specific areas to be agreed
- Success based tasks like banking facilities are also undertaken for a different free structure normally related to the value of facilities procured.
Project Details
- Category: Business AdviceConsulting
- Client: Kers
- Location: Usa
- Year Of Complited: 2018
- Project Value: 50k
- Manager: Masud Rana
- Architect: Istiak