The CFOs of the current day & age face a deluge of responsibilities arising from both internal and external stakeholders as a result of digital transformation. Digital disruption in the current era is creating hurdles for every industry, including the BFSI industry. To successfully overcome these hurdles, the modern-day CFOs have transformed themselves.

The growing need for financial experts in business has become even more evident given the current economic situation. Having said that the demand has been growing for a while. The concept of virtual CFO service though not a new trend, is a growing one, especially given the difficulties faced during the COVID19 pandemic. There are multiple reasons why there is a higher demand for a virtual CFO. As business becomes more complex and the CFO is required to wear many hats, Startups and businesses are now more than ever searching for opportunities to operate smoothly.The rise of the virtual CFO has a lot to do with more significant demand for the full stack CFO one who skillfully delegates resources like their team, technology, and strategic partners effectively while also being available to the client’s convenience. Given the toll the pandemic has taken on the market, many Small Businesses and Organisations look at effectively cutting down the costs to sail through troubled times. Here is where hiring a VCFO can help offer the level of services that can be availed with a nominal amount of the actual cost. Many CEOs of startup companies and business owners have less experience in Financial Management. This provides another great opportunity for companies to hire a VCFO. Whereas, for complex business problems, even the big organization in India hire a VCFO to complete the specific task successfully.