siliconindia | | March 20194Among the many reasons why businesses fail within the initial years, financial incompetence captures a major part. As per a research conducted by the US-based Small Biz Trends, 90 per cent of new businesses fail out of which 82 per cent fail due to cash flow problems. Financial statements, tracking profit and loss and maintaining budgets play key roles in the success of an organization. While it's necessary to deploy a full-time CFO for making compelling business sense, particularly in terms of cost reduction, practices, several small and medium enterprises and start-ups are choosing to hire virtual CFOs to oversee and undertake key ongoing business tasks. These virtual CFO services are here to value-add and drive business development in a technologically changing environment.All this while, finance was purely regarded as an accounting function. Also, the typical roles of CFOs were being mere financial custodians, a reactive advisor focusing on speciality finance, and technology was their hindrance. Times have changed. In today's digital age, virtual CFOs are known to look beyond their traditional roles to become an enterprise-wide strategist, an innovation and change leader and a proactive decision maker, utilizing technology to look at the bigger picture. In fact, these virtual CFOs now play a unique role in helping CEOs with their deep insights into the economics of the business. They can exploit that understanding and leverage their expertise to enable proactive and agile decisions, and help drive organization growth. In a nutshell, there is no doubt that the role of the virtual CFO is shifting rapidly. And understanding this, we have featured a list of "10 Most Promising Virtual CFO Service Providers" in our current edition. It's interesting to witness how these CFOs not only have financial capabilities but is able to think strategically and focus on growth. In other words, the financial rigor a virtual CFO can provide may often be one of the key stepping stones to ultimate business success. Nandini MukherjeeSpecial Editor editor@siliconindia.comEditorialVirtual CFOs Services are being an Emerging Trend in the Industry siliconindia Vol 07 · Issue 8-6 · March, 13 - 2019 Publisher Alok Chaturvedi Managing Editor Anamika Sahu Special Editor Nandini Mukherjee Associate Editor Susila Govindaraj Editorial Team Amit Raja Naik Aparna Roy Ananth .V Sujith Vasudevan Lakshmi G Hridkamal Roy VP - Sales & Marketing Virupakshi Pattar Advertising Managers Editorial queries editor@siliconindia.com To subscribe Visit https://www.siliconindiamagazine.com/subscribe/ or send email to subscription@siliconindia.com Cover price is Rs.150 per issue. Printed and Published By Alok Chaturvedi on behalf of SiliconMedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017. Editor Alok ChaturvediCopyright © 2019 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.advertise@siliconindia.comVisualisers Mohana Krishnan Siva Sankar Group Art DirectorAshok KumarNoida Ashu Sethi Garima AnandCirculation Manager Magendran Perumal Anupreethi Danila Jyoteshwari Baheshwar Shivanshu Shekar Patel Tapas Ranjan Mallick
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