2014 OctoberMyCFO Blog | MyCFO Blog

Monthly Archives: October 2014

Dilbert blues almost over as companies warm up big to outsourced functions

Mr. S Venkat, Co-Founder & Vice President, MyCFOMr. S.Venkat talks about the Outsourcing CFO functions and the CFO industry in this article by Times Of India

Worried that your assistant picks up the bag the minute the clock strikes five pm and you can do nothing about it? Or that your finance department is under enormous stress when D days like September 30 (income tax filing for corporates) or March 31 are round the corner? Worse still, your Diwali shopping festival logos are still incomplete?

There appears a solution to all of the above in the form of organizational outsourced services providers. From virtual secretaries who will do any errand for you to outsourced marketing head and CFO (chief financial services) providers, the traditional organisational structure chart is in for a make over. Today , such on call executives are game for anything, be it complex stuff like hand holding you till your IPO (initial public offering) exercise is complete to even the mundane data entry operations. Of course, all for a fee. Continue reading

Only 10% of 65,000 Rs 100-plus crore companies in India listed says S Venkat, Cofounder, MyCFO

MyCFO BannerAs outsourcing non-core activities including IT has become common, companies have started to look out for partners, who will perform core functions including finance. MyCFO claims to be the only company in India that provides CFO services to help high-growth firms meet their business goals.

“We have heard of 8-10 firms in the Indian market offering similar services but they are more individual consultants working together than institutions,” said S Venkataraman, director of MyCFO. Continue reading

Case Study – Real Build

MyCFO Real Estate & InfrastructureOur client

RealBuild is a Promoter owned and managed, and privately funded mid-sized real estate company headquartered in Mumbai.  RealBuild had developed approximately 10L sqft of residential and commercial space in and around Mumbai immediately before MyCFO’s involvement with the Company and developed around 5Lsqft of commercial real estate during the time of our involvement.  Senior Management was and continues to be exclusively run by close friends and relatives of Promoter.  Initial work has been done to induct a professional CEO at RealBuild Continue reading

CFO’s role in mentoring the F&A team and improving the F&A team effectiveness

Mr. Koushik Krishnan

Mr. Koushik Krishnan

By Mr. Koushik Krishnan, Regional Manager, accounting & control, A-PAC, Tetra Pak
Mentoring – building great teams to manage the madness

I handle a somewhat large role in a somewhat large organisation. My work spans 6 time-zones, 9 markets and a billion euro in turnover.

Last week, I got laid up with a slip disc. With Q3 close and the budget season in full swing, this was not exactly the best time to be laid up. So, here I was, trying to juggle decision making, tactical overseeing, putting out team fights, participate in corporate future gazing, get the team ready for an upcoming audit, and the list goes on. And also, squeeze some time for rest and therapy when the body gave way. Continue reading