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Why in-house CFOs and Virtual CFOs are so different

 Managing a business is a Herculean task. It involves an intricate process of planning, organization, and execution. A major chunk of managing a business revolves around the financial aspect of it. A Chief Financial Officer is in charge of bookkeeping, accounting, and just generally managing the overall finances of the organization. Whilst companies resort to hiring an individual who will take up the responsibility of the fiscal health of the company, a lot of companies are even looking at virtual CFOs that are outsourced, this is a common practice today, made evident by the many Virtual CFO Services in Chennai.

Company Costs

As mentioned earlier, CFOs deal with the money factor of a business. This is something all types of CFOs offer as a part of their service, but ironically, in-house CFOs charge hefty salary fees. Not only that, but it doesn’t account for the added costs like insurance and benefits. Companies that are fiscally healthy and well-established can afford to spend on an in-house CFO, but newer businesses or startups can vouch for Virtual CFO Services, which have proven to be the cheaper alternative as they usually only demand resource fees and cover employment costs. Continue More Here.

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