Managing Finance Function of a Startup
Challenge
- High employee turnover at all levels in F&A Function
- Unstable systems and processes
- Too many open ends for pan India operations
- Frequent changes in business plan and dynamics
- Challenging Angel / PE investors
- Need for regular funding for expansion of operations
- Promoter bandwidth consumed on daily fire fighting
How we helped
- On-boarding as CFO and deployed additional resources for finance function
- Complement the in-house team to cope up with pendency
- Simultaneously assessed the design and process gaps
- Redesigned and realigned the process to build-in necessary controls
- Communication with the field teams across India on process changes and hand-holding
- Became part of the cross functional teams in addressing issues and proactively deal with new circumstances
- Strategic support on all key business decisions by Promoters
- Ensure timely report to the board and investors
- Managed audits and statutory compliances on a timely manner
- Managed IT Assessment and Appeals with the counsel
- Managed multiple rounds of fund raise –
- Assistance in preparation on Business Plan
- Managing the Due Diligence process
- Managed all compliance reg CP & CS
- Assistance of CFO on the call to promoters
- Complemented with additional resources to deal with employee churn or special tasks
Benefits
- Provided stability & flexibility to the Finance team
- Released promoter bandwidth managing finance as an independent function
- Strong finance controlling process established
- Clear business plans and monitoring systems established
- Meticulously managed compliances for fund raise
