Financial Discipline is an urgent need for SMEs to succeed. However, mature finance talent has always been attracted by large corporates due to better pay, environment and growth prospects. This has created a systemic void at SMEs. SMEs contribute to 37.5% of India’s GDP, support 81 MN jobs and contribute to 45% of India’s exports – all this with available talent.
Most common reason cited for failures of any SMEs have been correlated to lack of financial discipline or sound management. We realised that the promoters of SMEs were fully focused on growing their Business & required a sounding board for all Business decisions, a financial expert to help them take the right decisions. CFO Bridge founder Mr. V Srinivasan, while working as CFO of Bharti AXA Life, identified this systemic gap and realized that the only way to address this shortcoming is to start an aggregating platform. He also found out that SMEs rely largely only on financial lag indicators and there was immediate need to equip SMEs for informed decision making backed by relevant data analytics.
He also realized very early that these services must be made “affordable” for SMEs while ensuring that the talent is paid at par with market median.
Accordingly, he went on to build an institution and named it as CFO Bridge in 2012.
The concept was well received and within one year CFO Bridge was serving more than 15 clients.
One more reason for Finance talent to stay away from SMEs was work environment. CFO Bridge could break that barrier as CFO Bridge provides work environment of large while resources are working for SMEs. With time CFO Bridge became a platform and attracted more partners. Abheek Chaudhuri and Gautam Kapadi joined as Partners to further widely offer the services.
With mission of bridging this gap and to become the preferred CFO team for SMEs, CFO Bridge has grown to team size of 15 and have served 100+ clients since inception. Currently the focus is on Mumbai and Pune.
The mission is to spread across India by 2020.