Case Studies & Testimonials 

Digimed is an Indian group in the digital media space which has been acquired by a leading media house based in Europe. 

Our MyCFO role 

MyCFO's mandate is to streamline the accounting and reporting function in line with the group’s global practices. The role entails booking revenues on time, authorizing and keeping track of expenses including expense budgeting, managing and forecasting future cash flows, identifying areas where underlying IT/Manual processes can be improved, in addition to managing the routine accounting, tax and compliance functions. MyCFO’s role is that of an outsourced CFO assisting the group with the full range of CFO functions (Budgeting, Process improvements, Performance measurement, compliance, accounting etc) and comes with accountability to deliver results that an in house CFO would take on had there been one. 

How our client benefited 

MyCFO assisted in the 'clean up' of accounting and compliance related legacy issues, dating back to 4 years prior to the date of change in ownership and management. This exercise provided much needed visibility to the new owners on the true state of business performance of the company, reduced monthly reporting times from 6 weeks to 6 days, improved control standards dramatically and helped in the recovery of old debtors. MyCFO has assisted the company in savings on the costs of an expensive CFO, while making sure that adequate skill sets are always available to meet the growth requirements of the company.  

MovieX is a Film Processing lab engaged in the processing and post production work of Bollywood movies. The company operates out of Mumbai. 

Our MyCFO role 

My CFO's mandate was to streamline the accounting, tax and reporting functions of the company in line with the best practices. The company is evaluating options relating to sale/ development of its existing premises based in Mumbai and to had involved MyCFO to chart out the possibilities of splitting the sale/ development proceeds to the existing shareholders. The role involved studying the tax implications under the current and the proposed tax laws in India and advising the client on the right option so as to minimise the tax outflow which was completely 'above board'. 

How our client benefited 

My CFO helped the client to sort out hygiene issues on the accounting, tax and reporting matters. This exercise provided much needed visibility to the directors on the true state of business performance of the company. My CFO also assisted the company to save taxes by recommending the most efficient route to split the sale/ development proceeds to all the shareholders