My experience in dealing with CFOs of large corporations has taught me few golden rules. CFOs are too busy to discuss every detail what goes in the captive; they look for numbers that are compelling but are equally keen on the strategic thinking that goes behind the proposal of creating a captive. One of my client’s CFO approved the Virtual Captive with only three keywords “Simplicity,” “Reduced Risk” and “Guaranteed Savings.”
CFOs are custodian to all the investments and are responsible for ensuring that the investments are made after proper due diligence. The toughest part is always getting the CapEx approved and to justify the ROI. However, they are equally skeptical of the laws, regulations, taxations and would like to understand every bit of risk in near and future terms that they would be carrying with this investment.
CFOs are crucial to the approval of such strategic decisions. Our survey with more than forty CFOs in three continents came out with an interesting data point on what the CFO dreads the most in a captive investment initially.
If these five things are taken care off, setting a captive would be a cakewalk with the CFO as per our study.
When we created ScrumStart Virtual Captive model, we put ourselves in the shoes of a CFO and took care of each of the concerns of the CFO.
These five elements ensure that ScrumStart keeps everything simple, reduces the risk for the clients and provides faster-guaranteed savings through its virtual captive solution.
About the Author:
Mr. Santosh Panicker, CEO ScrumStart, is a specialist in setting up business processes and has established himself as an inspirational leader in the corporate world. Mr. Panicker has demonstrated his capabilities in setting up end- to -end HR, legal, and business process operations for 9 start-ups through his career years. He has over 22 years of experience working across diverse industries including IT, FMCG, Retail, Automobile and consumer durables with blue chip companies