http://mycfo.in/

Only 10% of 65,000 Rs 100-Plus Crore Companies In India Listed Says S Venkat,

Cofounder, MyCFO

As 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.

http://mycfo.in/

“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.

“From the database we have compiled, there are over 65,000 Rs 100-plus crore companies in India and only about 10 per cent of them are listed. Most firms have stretched the debt-raising option from banks and that is evident from the stress the banking industry has been going through in the last few years. These players would need assistance to discipline their financial operations to tap other financing options including private investments and public markets,” he said.

Secondly, of the 700-odd registered private investors in India only about 180 have invested in one company or more. The others are still looking for opportunities, which means there are more companies to look out for.

http://mycfo.in/

Thirdly, the demand for similar services is huge but the supply does not match it. Only a limited number of chartered accountants are available and they are either employed by larger firms or charge a huge premium. Good CFOs charge Rs 70-80 lakh per annum and several others are paid over Rs 2 crore, Venkataraman said.

“We have so far worked with at least 200 firms in the large bracket of pre-revenue to Rs 2,500-crore turnover. Of the 180 private investors, we have worked with about 30,” he said.

High-growth companies that require CFO assistance and organisations grappling with change management issues are the ones that have been looking for MyCFO’s services, he said.

The company is vertical and size agnostic but is keen about taking over the finance function of the clients completely for the duration of the project/engagement in order to deliver the required results, he said.

http://mycfo.in/

Read the full article here: http://mycfo.in/blog/?p=691#more-691

Website: http://mycfo.in/

Facebook: https://www.facebook.com/mycfo.in

Twitter: https://twitter.com/mycfo1

Google+: https://plus.google.com/u/0/+MycfoIn/about

LinkedIn: https://www.linkedin.com/company/mycfo-india