The need for advisors among businesses has been prevalent since decades. Be it first generation entrepreneurs requiring help for financial strategies or new age innovators seeking support for business structuring. External management support is often desired by most organizations. More specifically, start-ups and SMEsrequire support from management consultants and CFOs. But, the high costs involved in hiring full-time CFOs lead them to resort to local, general advisors who focus on short term goals. These advisors bring support for tax computation and other basic tasks leaving the subjects such as compliance and strategy unaddressed.CFOSME, a futuristic organization aptly addresses these critical problems and provides the desired consulting solutions to start-ups and SMEs. This Mumbai based consulting firm offers shared CFO services in the areas of Strategy, Finance, Accounting and Compliance. CFOSME is the brain child of Sachin. D, who wanted to implement the idea of providing CFO services to start-up small & medium enterprises (SSMEs)at a fraction of cost of a full time CFO.
Under Sachin’s supervision, the organization set sail in 2012 and emerged with reliable solutions to tackle the shortcomings of SMEs and start-ups. CFOSMEbrings an extensive service portfolio, which precisely serves the companies falling in both the said categories. In the SME segment, the organization offers services for Corporate Structuring, Business Planning, Strategic Advisory, Capital Raising, Corporate Governance, Commercial Negotiations and Transaction Advisory among others.
Besides, CFOSME’s end to end solutions for start-ups include Business Planning and Structuring, Accounting, Regulatory Compliance, Cash Flow Management and Monthly Reporting. “Our approach is to act as a partner and build a deeper relation with our client rather than act just as an advisor. Further, we have developed a network of associates which include lawyers, tax& regulatory experts, HR/payroll companies, investment bankers etc. whose services are available in plug and play mode,” details Sachin. D, Founder & CEO, CFOSME.
CFOSME’s approach is to act as a partner and build a deeper relation with our client rather than act just as an advisor
With unremitting efforts and ongoing support for its clients, the organization has come a long way in a short span of time. However, there were various roadblocks that it had to encounter in its journey. From building credibility for its services to being affordable, CFOSME has dealt with all the hurdles befalling its way. Sachin says, “CFOSME initially grew through references and now we have created enough credibility and visibility in the market to get more clients. To become cost effective, we created various flexible models of engagement which can fit the budget of the client.”The company has served start-ups with zero revenue to businesses with turnover of over Rs.1500 Crores. CFOSME has developed a vast client base which majorly includes start-ups and SMEsoperating across Manufacturing, Medical Diagnostics, IT, Mobile Tech, Automobiles, Analytics & Consulting, E-commerce and Infraprojects.
CFOSME holds great growth plans for itself and its clients. While it will continue to align its efforts with its clients’ objectives, it will also seek to expand its client base by expanding to other cities. For the next 3-4 years, the company’s focus would be to expand to other major cities such as Delhi, Bangalore and Chennai. Moving on, the company plans to scale up by adding more CFO Partners and building a professional team to grow at a national level.