Financial management can be a daunting task for new age tech savvy entrepreneurs or SME promoters with limited financial acumen. Yet it cannot be denied that no business can succeed without a prudent management of its financial needs and resources.

To fix this need, we have new age solutions in the form of ‘CFO services” that can take the load off the back of many such SME owners/entrepreneurs. ‘CFO services’ as the name suggests, refer to a bouquet of services typically managed under a CFO and which need to be managed well to ensure a good financial health of the organization.

Why CFO Services ?

A very pertinent question that every SME owner/entrepreneur/startups will have to confront is the need for the CFO services . In most cases, an Accountant is hired and is expected to manage the financial health of the Company and also give expert advice. But the result largely is just data entry, delayed payments, irregular compliances and inspite of a profitable business, there is cash crush and struggles with working capital. When these problems arise, they have a negative impact on business prospects, valuations and fund raising and the growth is thereby hampered.

Maintaining an in-house CFO with supporting staff can be a drain on the limited financial resources. In early stages of business, cost is an important factor for ensuring business viability. This is when outsourcing CFO functions to a reliable financial advisory partner (CFO service provider) can help boost your business, while at the same time maintain prudent cost centers. Repeated manpower attritions can affect the stability and security of a business at every stage.

A reliable financial advisory partner ensures continuity in business, that is equally critical to a stable business. Cash flow management, Accounting, Raising funds, Budgeting functions, statutory compliance and more can be managed by experts while the entrepreneurs can focus on their core competencies. CFO services act as conduit and can also help during the interim manpower changes without compromising on the business quality. The SME owner can also opt for specific advisory services to be continued on a long term basis – which further insulates him against any human resource hiccups.

An in-house CFO too may need expert strategic advice for certain projects. Your financial advisory partner can also help with project specific CFO services, as they cater to a multitude of financial challenges and have diverse capabilities.

Service Areas

The scope of services may vary between providers but broadly they cover:

  • Internal Controls
  • Budgeting & Forecasting
  • Working Capital Management
  • Tax Advisory
  • Interim CFO/ CFO Assistance
  • Project Management (short term/mid-term/long term)
  • Compliances
  • Fund raise & Deal Structuring
  • Strategic Advisory

CFO service providers can also help find, analyse, and place full time CFOs when required – since they have the capabilities to choose the best from their domain.

With a dedicated financial team, expert insight, greater flexibility, cost efficiency, better controls & compliances, stability – CFO services are a win-win solution that matches the goals & expectations for all players in all kinds of businesses, but a real boon to young start ups.

This article is authored by Dinesh Makani, representing India Business Solutions (IBS) which is a boutique advisory firm helping a lot of Start ups, SMEs in India and Singapore in fulfilling their aspirations. Dinesh is a Managing Partner & Founder at IBS and can be reached at dinesh@dmibs.in

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Seeds of hope as DuPont unit strikes licensing deal with China’s Origin Agritech

DuPont Pioneer, the seed improvement and genetics unit of American chemicals giant DuPont, has struck a deal with Chinese crop seed technology firm Origin Agritech to develop new seeds to meet the needs of Chinese farmers spurred by Beijing’s call to improve crop productivity.

The two firms said they have come to a “commercial licensing agreement” to develop new seed technologies for the China market, without elaborating.

“This combined effort will contribute to the modernisation of China’s agriculture system and improved food security Cathay Dupont Award , which the government has set as priorities,” DuPont Pioneer said in a statement on Tuesday.

The pact came two months after state-owned China National Chemical Corporation (ChemChina) agreed to buy DuPont’s rival Swiss crop seeds and pesticides firm Syngenta for US$43 billion, in what would be China’s largest overseas acquisition deal if completed. It is pending regulatory approvals.

ChemChina’s Syngenta bid could change China’s stance on GMO foods

The deal was widely seen as a move for China to acquire know-how to boost food productivity and security.

The acquisition followed close on the heels of DuPont’s US$130 billion all-stock merger with US rival Dow Chemical in December, which is also pending regulatory approval, including anti-monopoly scrutiny in various nations.

That merger had raised concerns that it would make it harder or more expensive for China to gain access to foreign biotechnology to improve crop productivity. DuPont Pioneer’s deal with Origin and the Syngenta acquisition by ChemChina could ease such concerns.

China has more than 20 per cent of the world’s population but less than 10 per cent of its arable land. Hence food security is at the forefront of government policy priorities. Beijing’s first policy directive issued every year usually concerns agriculture.

Beijing has not generally allowed the cultivation of genetically modified crops except for cotton and papaya, and many Chinese consumers are suspicious of foreign crop technology after a string of food safety scandals at home over the years. But the nation imports a large amount of genetically modified soya beans, mainly from the United States.

But in this year’s first directive, China’s cabinet, the State Council, for the first time said genetically modified crops should be “cautiously promoted” provided public safety is ensured. This came soon after President Xi Jinping voiced his support for developing genetically modified crop technology.

Soya bean imports revive fears in China about genetically modified food

The Ministry of Agriculture has issued permits to two scientific research groups to produce two types of pest-resistant rice and a kind of high-yield corn for five years, according to state-run People’s Daily.

In the nation’s recently released development plan for the five years to 2020, crop supply self-sufficiency and safety was mentioned as the key objective for the agricultural sector, and biotechnology named as one of the key industries to be encouraged for development.

DuPont, an Iowa-based 90-year-old firm, said Origin has successfully developed corn seeds with insect control and herbicide tolerance traits, with support from the Ministry of Agriculture and in partnership with the Chinese Academy of Agricultural Sciences.

“Once approved by the Chinese government, these products will help our country’s farmers fight the insects and weeds that prevent their corps from reaching their yield potential, said Han Gengcheng, chairman of nine-year-old Beijing-based Origin Agritech.

The firm said its “transgenic” corn was the first to receive the “bio-safety certificate” from the Ministry of Agriculture.

he Nasdaq-listed firm’s share price soared 31 per cent to US$1.75 in New York on Tuesday.

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När du hyrt en chaufförservice, du förväntar dig inte bara anländer till din destination på schemat, men också i komfort och stil. För att ge en smidig och utmärkt service till klienter, bör ett företag ha en flotta av välskötta bilar tillsammans med välutbildade chaufförer kan leverera en exemplarisk klienttjänsten. Tokyo MK Taxi garanterar att kunder kommer att få sin professionell service varje gång som vi inte ger lätt till dessa viktiga överväganden.

Tokyo MK tar stolthet i att ha välutbildade chaufför med omfattande erfarenhet av bilkörning och hantering av klienter. Att vara chaufför är mer än bara innehar körkort, chaufförer i vårt företag är lika skicklig på kundservice och transportera kunder tryggt till och från bestämmelseorten. Här är några som gör våra chaufförer sticker ut bland resten:

Oöverträffad kundservice. Det förväntas för chaufförer att behandla passagerarna med största respekt och artighet. Vi jobbar för att få dig vart du vill åka tryggt och bekvämt samtidigt med tanke på alla dina behov.

Duktiga och väl-kunniga. En av de främsta fördelarna med att anlita en chaufför är den lokalkännedom som chaufförer kan ge. Tokyo MK Taxi chaufförer är väl-kunniga i området så inte att du har ett problem att få till din destination. De är dessutom beväpnade med mekanisk kunskap fixar oväntade bilproblem som kan uppstå, såsom punkteringar på vägarna.

Professionellt utseende. Det är ingen tvekan om att utseende spelar en viktig roll i de beslut som människor gör. Våra chaufförer öva personliga grooming och anständighet och kan ses välklädd Visa professionalism i publiken.

Med en mångfald av eleganta och välskötta bilar, Tokyo MK Taxi funktioner Lexus grupp entusiaster fantastisk executive sedaner, SUV: s och limousiner som utgör vår minutiöst underhållna flotta. Stor kundservice är en integrerad del av vår service eftersom vi är anpassade för att du som vår högsta prioritet.

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Jakarta. The Tourism Ministry will host a coordination meeting at Bidakara Hotel, Jakarta, on May 18-19 to sign agreements to develop a total of up to 100,000 homestays in tourist villages all over the country in the next few years.

This year alone, the ministry expects to build 20,000 new homestays.

Representatives from several ministries, developers, local administrations, non-governmental organizations and academic experts will attend the two-day meeting.

The key outcome for the meeting is to have the Ministry of Tourism and Ministry for Villages, Underdeveloped Regions and Transmigration — the key players in the development projects — to agree to kickstart the collaboration and set out the guidelines for it.

"The Tourism Minister and the Minister of Villages, Underdeveloped Regions and Transmigration will sign an agreement and set up guidelines for homestay development in tourist villages. We will also hold discussions with other stakeholders on the ideal locations for the homestays," Dadang Rizky Rahman, the deputy head of destination development and tourism industry at the Ministry of Tourism, said in a statement on Wednesday (17/05).

Both ministries have already agreed on 10 pilot locations to begin the long-term development. They will ratify the agreement at the meeting.

The Tourism Ministry has also joined hands with local property association Real Estate Indonesia (REI) to build the homestays.

"A memorandum of understanding between the Tourism Ministry and REI will be signed at the meeting," Dadang said.

The meeting at Bidakara Hotel will also include workshops on various topics related to tourism, ranging from funding schemes, land permits and homestay maintenance.

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My first trip to Jakarta was a sensory assault. The contrasting sights of grand mosques, imposing shopping malls, and roadside food stalls swirled in the cacophony of buzzing motorbikes, taxis, and rickshaw carts. A simple trip across town easily became a three-hour tour, crawling through the maze of traffic. Watching the taxi meter tick away, I stared despondently outside of the car window, looking for a glimpse of nature. I wanted to feel the earth beneath my feet and inhale the humid, tropical air without choking on vehicle exhaust and gasping on cigarette smoke. Two years later, I returned to the sprawling cosmopolitan but under one condition—I had to get out of Jakarta.

Returning to the archipelago, I felt prepared to brace the city, just long enough to escape it. After a single night’s stay, I rose with the dawn ready to begin my journey. Our first rest stop on the motorway embodied the Southeast Asian aesthetic I yearned to witness—order, beauty, and greenery. At nearly every turn, these three elements welcomed and ushered me into the Indonesia I sought to experience. While most rest stops around the world oscillate between utilitarian and repulsive, this rest stop was beautifully, soothing and refreshing. A colorful mosque with an outdoor pond and stained glass calligraphy stood at the heart of the rest stop. To reach the restroom, I took a short walk through a stone-paved garden with benches and gazebos. I felt honored by the thoughtfulness and attention paid to the design.

Continuing onward to Bandung, we drove through tea plantations, rolling green hills, and traces of urban art, known to most as graffiti. Absorbing the sights and sounds at a gentler pace afforded me the space to appreciate this uniquely, different landscape as well as whet my appetite for some culinary appreciation. Our hosts recommended none other than the Kampung Daun Culture Gallery and Café, where we embraced the undisturbed natural beauty of the quiet valley and its rivers while savoring authentic Indonesian cuisine. The attentive staff thoughtfully prepared delectable vegetarian dishes for us.

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I’ve found it is one of the most important issues for my readers, who regularly ask for help and advice after falling victim to scams.

This year alone I have spoken to people who have lost a combined £250,000 through online cons and credit or debit card fraud.

It is very unpleasant, and it will pay to be extra vigilant this weekend as research from comparethemarket.com shows it is one of the busiest for cyber-criminals.

Almost £10million was expected to be stolen on Black Friday, the pre-Christmas sales event we inherited from America.

A further £8.6million is expected be lost to criminals tomorrow on Cyber Monday, which is another shopping date borrowed from across the Atlantic.

The forecasted fraud comes after 4.5million people had to cancel credit and debit cards due to online fraud last year.

And so far this year we have seen a number of high-profile hacks involving some of the world’s best-known companies, including Tesco just this month.

Credit card fraud happens every day in the UK but fraudsters go into overtime at Christmas, which is the busiest time of year for retail.

And, make no mistake, these criminals are well-organised gangs with as many as ten people working as a team.

It is worth taking a number to steps to stop yourself becoming a victim and make life easier if the worst does happen.

- Have a back-up credit card. If yours is lost or stolen, and you only have one card, you’ll be left using cash until your new card arrives.

- If you can’t get another card due to poor credit, then have a pre-paid debit card ready with a £50 emergency fund loaded on to it just in case.

- Register your cards with Verified by Visa or MasterCard Secure Code as these protect against unauthorised use. Always check the website address when paying with a card.

- Don’t buy anything from a website you do not know – stick to well-known high street names or established online retailers.

- Use PayPal if you can. It is the longest established online payment provider and has good security.

- Never store details relating to banking or passwords on your phone, laptop or tablet. These can all be hacked and you run the risk of a lockdown of your finances.


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Mafiabusts another sign that big crime rings have big ideas for fraud

Reputed mobsters from theLuchese, Bonnano and Genovese crime families were busted up and down the EastCoast last week.

The epic lasso roped nearly50 suspected hoods, including high-ranking capos who called the shots.

Extortion, gambling,loansharking, muggings and other standard Mafia schemes were alleged in thefederal indictments.

Unwise wiseguys?

What stood out washealth-insurance fraud. The gangsters allegedly convinced docs to write“unnecessary and excessive” prescriptions for expensive compound creams. Allieddocs overbilled insurers and received kickbacks, the feds say.

Street hoods turning to respectablewhite-collar crime?

“Many of the Italian mafiafamilies across the nation have sought to diversify their interests into morehigh-tech, white-collar crimes for a while now, dating back, really, to the1980s,” mob expert Scott Burnstein tells Vice. “Smart mobsters in this day andage no longer just line their pockets with traditional rackets (gambling,loansharking, extortion) — and some try to stay away all together. When youcompare prison sentences, it makes the most sense.”

Organized crime sinking itsgrubby paws into insurance fraud is a known phenomenon. The Coalition hastracked the trend for years. Complex rings, and ethnic gangs such as Russiansand Armenians, have gotten rich from staged crashes, inflated health-insuranceclaims, medical ID theft and other insurance rackets.

The latest busts add newinsights into how the Mafia itself may be larding family ledgers with insurancecrime.

Drug dealers and otherstreet types are branching into insurance crime. It’s safer, more-profitableand less likely to earn you a bullet to the head in a dark alley, they reason.Same often holds true for larger crime rings.

All this is hardly surprising.Corporations inevitably follow a good money-making idea. They add efficienciesand scale, thus magnifying profits. This is as true of insurance fraud as honestentrepreneurial ventures such as coffee, copier and hamburger franchises.

There always will be agenerous niche for mom-and-pop fraudsters — average consumers who inflateclaims for “lost” engagement rings or “stolen” sound systems.

It’s the corporate fraudplayers who may be the most dangerous. In addition to size and organization,many complex rings could have resources to bring in tech-savvy players who canhack and breach insurers.

Sensor-driven devices suchas telematics also may be hackable, thus allowing hi-tech crash rings to alterdata and seemingly legitimize setup car wrecks. Shifting alliances among fraudrings with differing skill sets likely will surface. Align medical providerswith breach techies and the theft potential is great.

The Mafia may not be theunstoppable octopus of yore. Yet the upcoming Mafia trials still will givefraud fighters useful field intel on the threat they’re up against. They’d besmart to watch closely and mine for actionable insights. Whether the Mafia is abit fraud player or serious actor, they’re another reminder that size doesmatter with insurance fraud.

About the author: Jim Quiggle is director ofcommunications for the CoalitionAgainst Insurance Fraud.

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