Wish to accelerate your business growth? Fuel your financial decision-making with strategic insights!
admin June 17, 2021 Pratique CFO, Startup, Virtual CFO services
If you are a business owner, you must understand the performance of the company in terms of ROI and growth. In the process of doing business, you may want to make several informed decisions related to diversifying business or acquisitions, inviting investors or seeking financial help, or business operations. Good financial health is key to take such decisions. Hence, evaluating the financial health based on certain parameters help you with effective decision-making.
This is not just enough, being the manager of the company also calls for looking at the financial health check to determine the ROI for each project. In turn, this also helps you to lead your team to achieve the targeted goals better.
There are several other measures and metrics that support the question of a financial health check in a company. A major criterion is business growth, which is the core mission of any business. Growth does not happen by itself but requires a lot of forward thinking, keeping the financial position intact, and planning for a good strategy to get on. How do you achieve all of these? When you are fully geared up to execute core operations, it is also important to work on the key indicators that determine the financial strength of a business.
For this, you need to walk the extra mile, which is critical. Nevertheless, there are service partners who can keep a check on the pulse of your business and help you make better decision-making, while you continue with the core operations.
Companies, especially, start-ups hesitate to appoint an in-house CFO as they do not realize the need for one. There are also different perceptions like CFOs are only for corporates. Be it small or big, any business can grow faster if they have a well-defined financial plan to suit their business goal. The CFOs can support by mapping the financial and business goals. CFOs also play a critical role in helping with strategic decision-making for startup companies to think for the future and prepare themselves.
Most companies wish to have a consultant or outsource to a virtual CFO rather than hiring in-house. Virtual CFOs define goal-oriented strategies and strengthen the financial position of a company making it stable and credible. The CFO experts or professionals help to forecast the future, analyze income and expenses and define a sound business strategy that suits the business goals.
What Pratique CFO (PCFO) does for you?
Evaluate your KPIs to get the pulse of your business. Assess the liquidity, profitability and operating efficiency, measurable metrics that showcases how a company is achieving its targeted goals and objectives. The PCFO team identifies the right KPIs for business growth and sets up a tracking mechanism to monitor it and helps you make right decisions.