CFO Services in Pakistan

Cost-Effective Skills & Experience – On Demand

The Role of a CFO and the Benefits of Outsourcing to GAlico

The Chief Financial Officer’s (CFO) role in a business is a vital one where they are primarily responsible for directing the company’s financial management, usually with a strong team of accountants and bookkeepers to support them.

They report to the CEO and the board of directors in large companies and are second to the CEO in most senior management structures. In large companies they often earn six-figure incomes with a generous package of benefits. So, they are certainly not humble bookkeepers.

Of course, they have a number of other responsibilities which fall into four broad headings:

One of their most important tasks is to ensure the veracity and inclusiveness of the company’s business accounting information, which is the basis for the company’s Audited Financial Statements. The CFOs job requires sharing information with senior management in order that all decisions made are based on solid data which has been reviewed and analyzed.
It’s the CFOs responsibility to provide accurate financial information to the CEO, the board of directors and top-level management. The information will include in-depth analysis and the potential impact on the company as well as any regulatory requirements of any decisions they make.
One of the main areas a CFO is responsible for is compliance, which includes tax calculations and payments, mandatory government fiscal reports, public financial announcements and reports to shareholders. This is a very complex and critical area which takes up a large proportion of a CFOs time.
At every level of management in a company, informed decisions can only be made if they are based on current financial information supplied by the CFO. The CFO has the responsibility of deciding who has access to the data in order to preserve the security of company financial data.
Since most small and medium businesses are unable to afford a full-time CFO, especially in the early stages of building a business, which is an anomaly because that’s exactly when a business needs good financial direction. This is where Push Digit’s CFO service is an amazing benefit for every company, no matter what size they are, to have the value of an on-board CFO at a very affordable hourly rate, just when you need it most.

What Will a Outsourced CFO Do for my Company?
A Push Digits Outsourced CFO will:

Create business tactics to enhance your vision and objectives for your company.
Guarantee that your business complies with all local regulations, statutes and policies.
Review the current global economic outlook. Implement cost savings with automation and Artificial Intelligence (AI). Our CFOsare all technically knowledgeable with the skills and experience to evaluate and introduce new systems to improve the productivity and cost effectiveness of your operation.
Remove hurdles in your push for change by embracing new technologies like the installation of cloud-based ERP software.
Deliver regular, precise financial data with proposals for both operating and strategic levels.
Constantly review the financial pulse of your company and advise business management on the implications of all company financial actions.
Implement strategic management processes. Coordinate and incorporate the actions of all areas of a business to achieve the company’s long-term objectives.
Manage cash liquidity so that your commitments will always be met.
Carry out detailed in-depth evaluations of potential mergers or acquisitions and provide exceptional recommendations with detailed financial modelling, using sensitivity analysis.
Overview the veracity and inclusiveness of your business accounting information, which is the ultimate basis for the company’s Audited Financial Statements.
Review, analyze and interpret the company’s financial information for managers, the board of directors and relevant stakeholders.
Review and analyze your company’s financial control procedures. Improve vulnerable areas by changing the restrictions or substituting them.
Review and analysis of the company’s historical financial information then compare the data with current and potential results to effectively manage risks and identify potential new financial and business openings.
These are just some of the benefits you will enjoy from having a Outsourced of part time CFO on board.

What is the Process?
Your part time CFO can be available to you to suit your specific requirements and budget on an agreement from annually to hourly or anything in between.

Our CFOs are experienced, qualified Chartered Accountants and financial specialists with high level knowledge gained while working in large corporations around the world.

The distillation of all their experience brings knowledge and a business edge to your company by assisting and guiding you, by maximizing your skills so you achieve your company goals.

What do They Deliver?
They will work with you to make your company more dynamic and efficient and more importantly help to reduce business risks by bringing their skills and experience to your business.

Improving Profitability
Your business will benefit by working with a financial specialist who will balance your enthusiasm to follow every new idea, with an expert in-depth analysis then work with you to select the opportunities which offer the best chance of success and profit growth.

Controlling the Cash
Cashflow is critical in every business no matter the size as without cash even a very profitable business could fail. Our CFO will evaluate your business, detect weak points and remove them or improve systems to ensure keep your cash flowing on time in future.

Funds for Expansion
If you are seeking openings to grow your business, a CFO will assist identifying tactics to attract the best financing to develop your business. They will determine what is right for you.

Financial Predictions
CFOs are experts in assessing the financial wellness of your business and on the basis of that, predicting the future of your operation. It’s not guesswork rather accurate analysis and skilled predictions based on solid data. This will give you a view of your potential and how it will look.

How to Plan the Best Exit
On that basis, perhaps you are looking to sell your company and retire or choose a new venture, your outsource or virtual CFO will assist you with planning your exit plan to ensure your get the maximum return for your efforts. They will advise on the best timescale and plan for your sale.

But Wait There’s More…
These are only a snapshot of what a virtual CFO could do for your business and making the maximum use of every minute together will give you skills that will last for the rest of your business life.

They can offer advice on strategic planning, advice on managing acquisitions or disposal of assets, as well as reviewing business plans or system implementation and their inherent weaknesses or problems. When you obtain our CFO services, we even interface with investors as your Liaison Officer, often considered part of the CFO’s function.

They can work with your board of directors, have input on major company decisions, prepare and deliver financial reports. Create budgets and financial predictions, plans and carry out reviews of all your business activities then report to you on any areas which require attention.

Convenience
If you’re outside Pakistan, our CFO is still available to you anywhere in the world 24/7/365 using Push Digit’s video Conferencing suite. No matter where you are our CFO will be right there alongside you the same as though they were in the same room.

Is it Affordable?
The cost of a CFO can be $160,000+ a year plus all the ancillary costs that go along with such a senior appointment, but those costs don’t apply to you. All you will pay for is the experience, skills and knowledge that our CFO will bring to you. He or she will be available to you according to your needs and the costs will balance in line with that.

You could save between 80% and 90% of the average costs related to signing up your own full-time professional CFO. Money that you can reinvest in your business to enable it to develop and flourish.

Conclusion
Imagine being able to email or call your CFO with a question, whether it’s a simple thing or a complex one, then getting a response with the answer shortly afterwards?

The answers you’ll receive will be correct and based on the long experience and knowledge of your CFO. That enables you to get on with other things instead of being stuck and that is a direct benefit to your business. Time saved is money saved.
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Bookkeeping and Accounting Services in Dubai

Accounting is a function no business can avoid.
A well-paid expert accountant’s work cannot be replaced by many ordinary accountants or an inexperienced accounting firm to whom you have outsourced your bookkeeping and accounting services in Dubai or any other Emirate of the UAE. You will never be certain on your decisions made on the basis of the accounting records maintained by an ordinary bookkeeper. Intelligent businessmen do not compromise on the quality of their accountants just like they do not compromise on their own lifestyle. They want to make sure the data they are using to make important business decisions is “accurate, complete, and reliable.”

In the UAE, compliance requirements are increasing every passing day and no business owner wants to carry the burden of hefty fines due to non-compliance.

The way great accounting companies or Smart Accountants structure the accounting records also goes to a great deal in determining how it protects itself from non-compliance with the laws in the challenging world outside with ever-changing laws and regulations. Consider the recent changes brought by the UAE Government, being a member of the OECD Inclusive Framework, by enforcing the Economic Substance Regulations in the UAE. These regulations require a company based in UAE to notify the Government Authorities if they carry out any of the relevant activities provided in these regulations. For example, to identify if a Company is performing the relevant activities of “Distribution and Service Centre Business,” the flow of accounting transactions of the Company with third parties, connected parties within UAE or foreign connected parties, will play a major role in the Compliance Assessment of ESR. And only a Smart Accountant knows how to manage and record the flow of transactions and structure the accounts appropriately for such an important assessment. A wrong compliance assessment here can put the Entity in a lot of trouble including substantial fines and penalties.

The same goes for the UBO declaration. How would an ordinary accountant know that a single owner company is also subject to Ultimate Beneficial Owner declaration? This declaration applies to every organization registered in the UAE mainland and free zones except entities owned by the government and financial free zones (Dubai International Financial Center and Abu Dhabi Global Markets).

And it does not end here. How would you, as a business owner, ensure that your accountant is carefully recording business transactions to ensure VAT compliance? Can you avoid VAT Penalties as a result of incorrect bookkeeping and accounting? It is not uncommon that countless businesses in UAE are facing millions of dirhams of fines only because of late VAT registration, as their accounts team was not even aware of the voluntary and mandatory threshold for VAT registration.

These are some of the many reasons hundreds of companies have outsourced their accounting and bookkeeping services in Dubai and other Emirates of the UAE to Push Digits Chartered Accountants. We hire ACCAs, CPAs, and CAs for our clients and then continuously train them in our Push Digits Global Academy to ensure they are up to date with market requirements, the latest accounting and audit tools, integrated business process automation, and the ongoing trend of artificial intelligence in the accounting profession.

Dubai – An Oasis of Commerce

Dubai is a second name for making a massive amount of wealth and drastically growing your business due to its strategic location, the diversified economy from oil to real estate to tourism, and being home to a massive number of large-scale multinational organizations. Dubai is a city where residents have a luxurious lifestyle, significant buying power, and a habit to spend a lot of money every day. With the recent launch of the Nasdaq Dubai Growth Market, Dubai has become a heaven for Entrepreneurs and SMEs.

Remember: Business growth is always halted due to the time you spend in operations. You’re the expert when it comes to understanding the needs that drive your business, but unless it is a small-scale business, monitoring every function is simply impossible.

Entrepreneurs like you are highly creative people, full of great ideas, but less focused on the day-to-day aspects of the business. They readily acknowledge that even if they can do the work themselves, their valuable time is better spent building the business.

To that end, they find experts and then delegate the tasks. One of those tasks is accounting and bookkeeping services, and no better firm to outsource this process than Push Digits Chartered Accountants, which has been featured in Entrepreneur as one of the best bookkeeping and accounting firms in Dubai.

Is my Competitor Outsourcing Accounting Function?

Yes, they are. Because they want to invest in building their business rather than building an army of accountants.

The world has changed. The idea of shopping in a “record store” to purchase a musical selection that can only be played on a home-based “record player” seems ridiculous now. Our music is digital and instantly available anywhere, anytime.

For the same reason, companies no longer bother building an in-house accounting staff.

AaaS (Accounting as a Service) is a unique technique used by accounting and bookkeeping companies that eliminates all the overheads including salaries, office space, equipment, supplies, travel expenses, visas, employee gratuities, and so much more.

It saves even more money by eliminating sick days, vacation pay, holidays, and innumerable other expenses. Our objective is to provide you a customized accounting service and a system that integrates perfectly with your business.

Accounting Packages

Accounting and bookkeeping are fundamental requirements for every business, large or small.

You cannot function without reliable, accurate, and timely financial information. It is crucial to monitor your company’s performance and essential so you can make appropriate business decisions.

Our professional, fully-qualified accountants understand the importance of this, so they work tirelessly to make sure this vital information is available when you need it.

We hire judiciously to ensure we obtain the very best additions to our staff. They are talented, familiar with the latest regulations, and always completely accurate.

To attain maximum client satisfaction for every penny spent, we have divided our financial services into different packages:

Package 1 – Cloud-based Accounting

Widely used by SMEs and freelancers. Financial information can be viewed from anywhere with internet access. You can e-mail, courier, or mail documents to us, and our accountants will update your books online.

Package 2 – Onsite Accountant

An accountant visits your office, compiles financial data, and completes the accounting on your premises. Regularly used by mid to large-sized companies.

Package 3 – Back Office Financial Support

One of the most affordable and popular options. Our offices in Pakistan and Philippines support clients worldwide round the clock.

Package 4 – Project Accounting

Ideal for specific accounting assignments like bank reconciliation, data migration, retrospective accounting, etc.

Package 5 – Receivables & Payables Management

Includes:

• 3-way verification of invoices

• VAT compliance

• Payment scheduling and debt chasing

• Debtors and creditors reporting

Package 6 – Account Reconciliation Assignments

Includes:

• Bank/Cash reconciliation

• Stock reconciliation

• Debtors/Creditors reconciliation

Package 7 – Accounting Review

We review accounts prepared by your in-house team to ensure they are accurate, complete, and reliable.

Bespoke Accounting Package

We can combine any or all of the above in a customized solution. Whether you need daily, weekly, monthly, or flexible schedules, we adapt to your needs. Our team will visit, understand your business, and offer the best possible service.

Key Elements of Our Bookkeeping and Accounting Services

• Setup of accounting system & chart of accounts

• Recording of all business transactions

• Payment and receipt matching

• Bank reconciliation

• Year-end audit coordination and schedules

• Monthly management reports

• Budgeting, forecasting, and ratio analysis

• Setup & review of payroll

• Data backup and bank-level security

• Financial write-up services

• Debtors & creditors management

• Break-even analysis & cash flow reports

• Any other customized reporting

• Fantastic customer support

Accounting Expertise Driven by Artificial Intelligence

Our services are supported by AI that instantly detects errors and alerts a human expert, reducing costly mistakes and delays.

Why settle for firms that aren’t leveraging the power of AI?

Benefits of Outsourcing to Push Digits Global

Cost-Effectiveness:

• No salaries, housing, visa, or training costs

• Available 24/7/365

• Flexible and scalable service

• Best competitive price guaranteed

Access to Expert Knowledge:

• Qualified professionals with cross-industry expertise

• Dedicated technical support

• Deep industry insights

Long Term Affiliation:

• Seamless continuity and accurate records

• Long-term commitment to excellence

Satisfied Customers:

• 100% satisfaction rate

• High client retention

• Market-leading expertise and service

We Make It Work for You

We assist in setup and training for top software like:
SAP, Zoho Books, Xero, Tally.ERP 9, QuickBooks, and Sage.
As authorized partners, we offer unbeatable pricing and service.

The Takeaway

With our expertise, dedication, and modern tools, we deliver accounting solutions that elevate your business. Our CEO and Partners stay involved in operations, ensuring accountability and high standards.

Let’s talk. Let’s grow your business. Let GAlico be your trusted accounting partner in Dubai and beyond.

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GAlico.  Pakistan is your go-to destination for comprehensive Manpower Outsourcing Solutions. With our extensive industry experience and expertise, we have become a trusted partner for organizations in need of reliable and efficient manpower services. Our personalized approach, a strong network of professionals, and commitment to excellence make us the preferred choice for businesses across various sectors.