Foreign Companies which run their subsidiary on a medium sized scope don’t have the time to plan and monitor properly their financial strategic decisions and financial transactions in the day to day business carefully. Especially in India it happens frequently that ad hoc decisions are necessary because the situation on the ground changes drastically. Maybe the own staff is busy with other things like distribution of the products and are not well acquainted with the partly complex processes that are necessary to implement finances and investments compliant to rules.
These tasks require the expertise of a CFO.
But the opportunity to gain access to real experts who have experience in working with Indian subsidiary and foreign parent company experience is extremely rare in a medium-sized company:
The “really good” professionals prefer to work for large companies rather than a small foreign subsidiary with only “a few dozen” employees in India. So you do not get the top class.
And whether those who are available to you on the job market can add value to you at all is often doubtful, as they can lack quality and experience.
The top executives are also simply too expensive to justify the employment of a suitably qualified specialist.
Last but not least, a “full-fledge”-CFO would not be fully utilized and could come to dull thoughts in its boredom.
Therefore, WB has specifically developed a solution for our European customers that allows them to draw on the financial expertise and experience of a CFO, without having to engage in a costly, full-time appointment:
The Virtual CFO
- Just share your CFO with many other companies.
- So you not only benefit from a lower cost burden.
- Access CFOs who have spent their entire professional lives around Indian subsidiaries of foreign companies. So you do not have to develop your own solution concepts for each planning, but use a common pool of knowledge and experience of other companies.
- With this consolidated expertise, our virtual CFOs can support you on-site, as needed, for a few hours or days a month in India.
- Our virtual CFOs all have years of experience as CFO of Indian subsidiaries of European companies or groups, such as Daimler AG and TOTAL SA.