Year: 2022

In our experience with startups, it is a common sight that startups outsource the role of CFO or hire a virtual CFO, to assist them in the financial segment through different stages of their business growth. As a Virtual CFO, companies operationally optimize the startup entity to set the right tune for all fiscal matters, right from rising capital requirements, setting up the right cash flow, rationing of budgets, and developing best pricing strategies that cumulatively supplement growth patterns in a planned sequential manner.  Managing finances and also pondering upon the growth of business without appropriate expertise, times can put you in a situation to judge the right basket. Outsourcing the service to us, Versutus will bring in the difference with experience and dexterity, that would indomitably enhance the nature…

The Employee provident fund (EPF) is a government-backed Retirement Benefits Scheme for the salaried members which is maintained by the Employees Provident Fund Organization (EPFO).  On a recent notice, EPFO mentioned why it is important to file an e-nomination. It stated for one to have the funds available from PF and insurance benefits in a timely manner or in an unfortunate scenario on a member’s sudden demise, the member nominated can be ensured to have the settlement in a seamless manner.  Who are entitled for e-nomination In the case of a male member, his wife, his children, whether married or unmarried, his dependent parents and his deceased son’s widow and children; Provided that if a member proves that his wife has ceased, under the personal law governing him or the…

In a highly competitive market where businesses operate, to acquire the right vendor for the organization often the process of Vendor due diligence rests primitively to eliminate any possible risk in partnering with a potential vendor. It could either be buyer-side due diligence or seller-side due diligence, before partnering with a client.  Why is vendor due diligence assessment necessary? To understand the organization’s legal stability, reputation, threats, or any other issues that are related to an entity's compliance, vendor due diligence becomes an imperative tool. The comprehensive process varies according to the business operation modules and aligns with the frequency of the risk management.  What are the objectives? Having a successful vendor associate is a necessity rather than a want in today’s business world. The due diligence process gives a…