VCFO Services : Finding More Possibilities For Businesses To Grow | CEOInsights Vendor
     VCFO Services : Finding More Possibilities For Businesses To Grow

VCFO Services : Finding More Possibilities For Businesses To Grow

Kannan Ganapathy, Founder,   Suresh Dayalam, Co-Founder

Kannan Ganapathy, Founder

Suresh Dayalam, Co-Founder

Kannan Ganapathy, Founder, VCFO Services is an experienced professional who started the venture 12 years back in Chennai and later in Bangalore with a vision to provide business level management consulting for organizations across India. He takes upon him the responsibilities of a CFO of SMEs & startups by helping them with structured financial planning, tracking the cash flow, and developing sustainable growth strategies based on the company's financial condition. Kannan has 26+ years of experience in the finance industry where he started as a Finance Controller in Edutech Group, an MNC based in Chennai with headquarters in the UAE. This gave him the opportunity to have great exposures and knowledge development experiences which are used now to nurture new startups to grow their processes, financial stability, and business. Through VCFO Services, Kannan has been outsourcing CFO services, MIS designing & reporting, and managing the entire finance related statutory compliance and funds planning and mobilization services across India for various SMEs and startups. Let's hear it from him.

What has been the driving force behind your journey?
For us, every startup is like a newborn child. When it comes to us, we focus all our energies on nurturing it and making sure it grows into a healthy, stable organization. We chose to focus on SMEs and startups as 92 percent of the number of registered business entities in India are under this bracket and the remaining eight percent only refer to big corporates. Suresh Dayalam, Co-Founder, VCFO Services, and I feel pride when a startup grows into a stable organization by implementing our strategies with proper financial discipline, as it is the main driving force for us.

As a leader, what is your strategy to build a strong team?
Our team consists of specific people in specific jobs with specific
competencies. We do not compromise on competencies and attitudes to learn from people for greater results. We encourage training them mainly on the job with proper supervision and escalation process. Constant followup on the work delegated to people and getting updated on the same without delay is something that we always adhere to. Because as a leader one needs to make sure that the delegation of work is done to the proper person instead of doing it blindly we provide extended support to our team that they need to complete their job on time and that they are producing healthy and qualitative results.

I feel pride when a startup grows into a stable organization by implementing our strategies with proper financial discipline, as it is the main driving force for us

What are the major factors you take into consideration while suggesting financial services to SMEs and Startups?
The foundation of our assignment lies in understanding the business of a client concerning its F& A structure, compliance status, reporting mechanism, and funds planning. We strongly believe that

without the proper in-depth business knowledge, a support function like F& A cannot deliver things properly. We chalk out their strengths, challenges, and weaknesses and then design the appropriate plans and strategies everywhere. We take statutory compliance as a routine activity, fix a process and handle professionally using subject matter experts for every compliance applicable to them.

This is to ensure that the companies do not spend more time on routine compliance activities. We scrutinize every workflow like financial statements, revenue and expense streams, documents, approval processes SOPs, working capital management, and as is where is at a client place and then start applying our expertise and understanding of the business to suggest critical changes. Most importantly, we do
not plan the strategies based on any assumptions which is the biggest danger many do. Constantly monitoring our implemented processes is the key to our success because the job is over only if we get the planned results and not by only trying to do it.

Give a brief account of the procedures you follow for internal audits in your company resulting in clients' success.
When we start working with startups and SMEs, we consider multiple operational and financial parameters before suggesting a development process for them. The most important aspect that we look into is the cost structure of the client, various income streams, and available finance and accounts statements and reports as of date. The majority of the companies practice the habit of taking financial reports from another tool, rather than using the same accounting software which they use for day to day accounting.

In such cases, we try to bring the reporting into their accounting software to avoid reconciliation of data and also for better control and number accuracy. We emphasize cross checks in every financial aspect of the company like expenses flow, revenue recognition, collection metrics, and funds planning to ensure accuracy in whatever we compile and report to internal and external stakeholders. Moreover, we help promoters by handling critical but operational things and ensuring compliance and adherence at any given point in time, so that they can take the right decisions at the right moment with our findings and reports and utilize their core time to raise funds, implement the correct revenue strategies and take the business to the next level.

Kannan Ganapathy, Founder, VCFO Services
Kannan is a Chartered Accountant, Cost Accountant, and Company Secretary (I) with a CPA degree from the US. He has over 25 years of experience in the field of Management and Business Consulting, specializing in processes, finance, reporting, finalizations, and costing.

Suresh Dayalam, Co-Founder, VCFO Services
A master's degree holder in Commerce with great practical knowledge of accounting, compliance, finance, reporting, vendor settlement, and absolute number sense for the past 25 years. A backbone to VCFO Services since its inception with perfect work and team management.

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