SBS Global

Every organization is it a Large Corporation or a Start-Up or a Mid-Size requires a Chief Financial Officer (CFO). Most small & mid-sized organizations hire a Controller & NOT a CFO & mostly are unaware of the services carried out by a CFO & the different skill sets required to carry out the CFO Services . One of the more popular facts is that 90% of the Start-Ups fail, out of 10% businesses that survive, fewer than 50% of these businesses make it their fifth year & further only 33% of them make it to their tenth year & another interesting fact to note is 40% of failure is due to Cash Flow Problems. Thus one of the main problems keeping the business from growing into a profitable venture is FINANCIAL MANAGEMENT & a typical Controller would not be completely equipped for financial management functions & thereby putting the Organization at huge Risk. A Controller is highly skilled to tackle your book-keeping & establishing Internal Controls & compl...

 As an entrepreneur one will come across various challenges in managing a business, however, financial aspects top the list and rank most critical. One needs to pay utmost care and attention in carefully planning and monitoring aspects that affect the financial health of the business. There are steps to guide you in better management of your finances so you can see your dream to its end, without getting trapped in a financial mess. 1. Understand the Key parameters of your business: Just as we keep check on the vital parameters of our personal health, it is equally important to understand the key financial parameters of your business. Keep close watch and check on the revenue inflows and outflows to understand what is coming in and for what purpose it is spent. Though it is basic, it is very critical. Have a structured dashboard with the help of your CFO Services for regular review and understanding 2. Prudence in spending: Spending less than what you earn is the wisest action one ...

Business organizations today are very vast and complex. If keeping track of their daily activities itself is a challenge, managing their daily activities is an even greater challenge. Numerous transactions happen, new clients are acquired, additional engagements with existing clients are commenced, contracts are renewed/terminated as well as payments are received and made, on a daily basis. A large number of employees – having diverse character, age experience, etc.- join; employees leave, take casual leaves and change roles every day. A reputed company cannot afford disruptions in its service or deterioration of its reputation because of the daily changes that take place within the organization. That is where Standard Operating Procedures (SOPs) come into play. SOPs are a set of procedures, relevant to an organization’s domain and composed by the organization itself. They guide the organization on how to carry out its complicated day-to-day activities and what to do in case of an emer...