In our article series “Joint Ventures in India” we analyzed the challenges of German-Indian joint ventures. An aspect that is still unmentioned in this context but is typical is the fact that the Indian joint venture partner almost always claims the CFO (Chief Financial Officer) as their own - a circumstance that does not necessarily contribute to transparency is…

Regardless of whether it is a joint venture or a subsidiary, we strongly recommend that our customers place the finances of the Indian company in experienced and, above all, loyal (!) hands.

As a rule, medium-sized companies that are just starting to develop their market in India do not have the resources to hire a professional CFO. The managing director is usually busy with other things, especially sales, and has little time to plan and monitor financial strategic decisions and financial processes with due care. In addition, especially in India, it often happens that ad hoc decisions are necessary or one is “overwhelmed” by reality. This results in sub-optimal and often expensive decisions on complex financing issues, etc.

Good advice is no longer expensive!

As a small company, you rarely have the financial resources to hire a CFO who is familiar with the issues of the Indian subsidiary and the foreign parent company. Even if you had the money, the really good specialists would rather work for large companies than for a small foreign subsidiary. Therefore, WB has developed a solution specifically for our European customers, thanks to which you can rely on the financial expertise and experience of a CFO, but without having to take on a correspondingly expensive full-time position: the virtual CFO

Simply share your CFO with many other companies! So you not only benefit from lower costs.

Even more important is the fact that you have access to a CFO who has spent and continues to spend his entire professional life working with Indian subsidiaries of foreign companies. So you don't have to develop your own solution concepts from scratch for every problem and every plan, but you have access to a pool of knowledge and tried and tested experience from dozens of other companies. With the help of “Best Practice” you can most easily find practical, everyday solutions. With this consolidated expertise, our virtual CFOs can support you on site in India for a few hours or days a month, depending on your needs.

Use the expertise of a “virtual” CFO for your strategic tasks and constantly new challenges (e.g. GST) in India.