CFO in Proptech Industry

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A Glance at the Emerging PropTech Industry

The real estate industry has been infusing technology to uplift efficiency and quality. The turn of the 21st century witnessed the first digital initiative in the real estate sector with the arrival of online listing platforms, which revolutionized the process of search and discovery. Technology has helped the real estate sector in India to recover fast from the unprecedented period of COVID-induced lockdown. Despite some initial resistance to the evolving changes, the real estate business has come around to executing and including the changes for the better and, as a result, favourably impacting developers, investors, brokers, and buyers.

What is a CFO Consultancy Service?

At Enterslice, we offer CFO Consultancy services and help with strategies to boost your overall business. Our responsibilities will be overseeing and analyzing a company's financial needs and requirements. A CFO consultant will help formulate and implement financial strategies, manage the company's financial departments, and ensure that the company complies with industry and legal standards.

How will a CFO help your PropTech Business grow?

With increasing Urbanization and digitization in the industrial space and other aspects of life, technology is now the central driving force in upscaling overall well-being and moving key economic metrics in India. Proptech, or property technology, is the convergence of the real estate industry with software and digital solutions. Enterslice's CFO Service will help you in analyzing the company's financial position and market trends. How a CFO consultant works will enhance financial strategies and upgrade cash flow along with profits. Cost cutting and cost management are also something we will look into. All the strategies developed by us will eventually help the company grow faster and more resourcefully.

Some of the key duties of a CFO consultant are listed below-

The below-mentioned services will help an organization achieve goals for every business growth stage.

Accounting Services

Accounting is one of the most traditional and necessary jobs our CFO consultant does for an organization. Even if a company already has a bookkeeper or an accountant, a CFO consultant will ensure that accounting is always on time and accurate. The necessity of accounting is direction proportional to the Annual Recurring Revenue (ARR). The importance of accurate accounting cannot be ignored. The majority of organizations already have a person for all their accounting duties, but a CFO consultant ensures that everything is handled accordingly.

Operation efficiency of the present revenue system

A company relies on its streamlined revenue system curated to generate maximum profit. A CFO consultant will help you to identify any revenue leakage in the system and will also help in reducing them. The CFO consultant will look for any potential ineffective revenue stream and help in coming to a solution to fix it. They will also come up with strategies to omit and automate any mundane task so that they can focus on more critical tasks like maintaining the cash flow, revenue leakage, etc.

Assemble a yielding and effective sales model.

Building a profitable, consistent, and effective sales model will be one of the top priorities of our CFO consultant. Enterslice's competent and disciplined CFO consultant will be able to build and maintain a repeatable sales model that focuses on revenue generation growth. To build such a model, scalable systems must be put in place, achieve profitable unit economics, raise series A/B funding, and measure the company's sales efficiency metrics. Enterslice's CFO consultant will also give attention to the smallest details for fine-tuning the sales efficiency so that the sales model stays consistent and profitable.

Collaborate with other departments.

Our CFO Consultant will work closely with other departments within the organization to ensure a successful future. The decision and implementations can only be effective if everyone is on board and is on the same page. The decision taken by our CFO consultant will only be made to positively affect the business and the people who are collaborating with us.

SaaS KPI and metrics management

Net margin and gross profits are important to Proptech company; taking other key metrics is also a job a CFO consultant would do. Some important KPIs include-

  • Average return per user
  • Churn rate
  • Net retention rate
  • Customer acquisition cost (CAC)
  • Monthly recurring revenue
  • Customer lifetime value
  • Lifetime Value (LTV)
  • Payback period
  • Days outstanding in sales

Tracking these metrics is one of the key responsibilities of Enterslice's CFO consultant. Maintaining and aligning these KPIs is crucial in maintaining the company's health and growth goals.

Mould new Saas revenue streams.

Our CFO consultant will identify new revenue streams and put measurable systems in place to prepare for the company's future growth. Our competent CFO consultants will be able to provide strategies to get higher retention rates, which every Saas company aims for. When it comes to building new revenue streams, we will test multiple strategies and come up with the best possible solution for the same. Correct revenue generation strategies can help a business achieve bigger heights of profitability and growth.

Budget control and cash management

Traditional duties like cash management are crucial to a CFO consultant's job. This activity requires creating a budget to help meet the business's strategic growth goals and spending across the various departments. Enterslice's expert CFO consultants will also help you identify if any departments need to get their budgets adjusted. When we talk about cash flow, our CFO consultant will take centre stage and look over important tasks like bookkeeping, accounting, and other financial control activities. Some other traditional duties include managing payroll, income, expenses, and reports. Maintaining healthy cash flow and cash reservoir is also our CFO consultant's top priority.

Capital Allocation

Enterslice's CFO consultant duties also include capital allocation, which is vital for a company's success. Capital allocation is done according to budgeting preferences and calculated financial planning and research. With good planning, a CFO consultant will be able to give higher returns from lower expenses and will measure the profit from internal investments. With a thorough knowledge of cash availability, a CFO consultant can strategically move the capital to areas of higher growth and consistently review the company's capital allocation plan.

Compliances

It is important to ensure that the business is legal to do business. Compliance is a crucial aspect of Enterslice's CFO consultant's job. It is important to ensure that all taxes are paid on time, whether to the state or central governments. Our CFO consultant will pinpoint and help you reach and identify your company's liabilities and will manage things like loan summaries, insurance summaries, tax obligations, and hidden liabilities. 

Key Benefits of Stakeholders in the PropTech Industry

The PropTech industry has significantly impacted the stakeholders in the value chain; the industry has changed the business operations of every player in the real estate sector. The landlords, tenants, investors, and brokers are all adapting to this new and changed real estate industry. Some of the key benefits the stakeholders will observe with the correct use of technology and our expert CFO consultants are listed below-

Investors/Financiers- The investors and the financiers will certainly benefit the most because of the following reasons-

  • Investment management solutions provided by Enterslice’s CFO consultants will minimize the chances of critical mistakes that lead to losses.
  • Our CFO consultant will improve the market research to track the development, investment, buying, leasing, and selling opportunities.
  • Our CFO consultant will help secure contracts that are in the company's and the project's best interest.

Developers and Occupiers- The buyers are the most important people whom every company wants to impress, here’s how the buyers will enjoy the benefits of our services-

  • Our CFO consultant will help improve transparency, leading to better loyalty and affable relations using CRM tools.
  • Our CFO consultant will ensure that the resources are used efficiently through management solutions, eventually resulting in cost savings and better environmental results.
  • Identifying and improving any problem will also be part of Enterslice’s CFO consultant’s job. It will be their duty to maintain seamless communication, resulting in better time management.

Brokers- People who deal with customers on the ground are important, and hence, we at Enterslice will help make the work of Brokers easier, too, by implementing the following standards-

  • Our CFO consultant will help introduce an automated platform, which will help reduce the paperwork and cost reduction.
  • Digitalized contracting and transactions will improve the buying experience.
  • Other technological experiments to give a better user experience, like- 3D views, focused marketing through technology, etc.

Need for CFO Consultant in the Proptech Industry

The Proptech industry is said to be the new and upcoming future of the real estate business. However, we cannot overlook the risks that are involved in the business. Here are ways a CFO consultant will be able to cope with the risks in a Proptech company-

Resource Administration

Running multiple systems and coordinating with suppliers simultaneously takes more time and greater resources to manage and oversee the communication funnel. Issues like product quality assurance, process management, and general tasking will be faced if not handled correctly. A CFO consultant will be able to identify this issue and help allocate capital to come up with an end-to-end solution to all the problems. This will help a business to run more efficiently, and the business will be able to generate more revenue as the communication and logistical problems will be solved; hence, there is no room for a mistake.

Inflation and cost management

A Proptech company may have to deal with multiple vendors and will also have to negotiate the prices of the services with each supplier separately. The rate can get higher than expected. Dealing with different vendors will come with issues like contract generation and renewal of contracts of different vendors at different times, which can be very troublesome and tedious. It will be our CFO consultant’s job to handle such situations and come up with a strategy that will smoothen transitions between process and communication. 

Compliance related issues

Managing compliance obligations is necessary to avoid unravelling your company to potential risks. When dealing with multiple vendors, there can be considerable problems with managing customer's due diligence and handling personal data. With the help of a CFO consultant, a company can come up with an end-to-end solution to mitigate these risks. It will be our CFO consultant’s task to look into compliance-related issues in the company.

Integrating difficulties

Having different teams working on different systems disrupts operational processes. It will likely require more time as well as money for proper functioning, ultimately giving more emphasis on maintenance over technological optimization. A CFO consultant will be able to identify and solve any business-related liabilities, and they will be able to come up with a solution that is both cost-effective and efficient. A CFO consultant will help in designing a centralized solution to all the business needs and problems.

Responsibilities of CFO consultant in a Proptech company

Enterslice’s CFO consultants have an in-depth knowledge of the attributes of the industry, including best practices, industry-specific KPIs, market analysis, and upcoming trends.

The primary responsibilities of the CFO Consultant will be as follows- 

Upfront Financial Strategy

The first benefit of hiring a CFO consultant will be that they will create a detailed financial forecast to guide the long-term strategy, which acts as a blueprint to help the company know exactly what performance metrics it needs to hit to achieve its short and long-term goals. A CFO consultant will develop dashboards and KPIs to monitor financial performance and provide real-time information on revenue streams. The result is both effective and efficient to achieve a profitable path.

Managing Financial Functions

Having a precise understanding of the business's financial place and goals, the CFO consultant will help regularly review finance necessary papers with company stakeholders and adjust strategy as required. Enterslice’s CFO consultants will play an important role in the company's proper functioning, including accounting, tax planning, and financial reporting.

Probe Financial Performance

A CFO consultant will be responsible for providing insights into the company’s current financial performance. Attributes like revenue, expenses, and cash flow are some of the major aspects a CFO consultant will look into on a daily basis to ensure proper efficiency. By developing and implementing domain-related tools, the CFO consultant will ensure that the company receives timely, accurate, and actionable information to inform wise decision-making.

Cash Administration

A CFO consultant will manage the company's treasury and cash management, including prediction and observing the cash flow. Managing working capital and ensuring that the company has access to ample capital resources. Efficient cash flow management will lead to ignoring any financial storm and taking advantage of opportunities for growth and expansion.

Stakeholder Value and Profitability Strategies

Enterslice’s competent CFO consultants will guide the company on what attributes to pull and when to implement them. They will analyze the sales revenue funnel, cash flow needs, customer acquisition cost (CAC), vendor contacts, profit margins, and staffing needs to make the best strategy. Our CFO consultant will be responsible for identifying the areas of your business that are not generating a positive return on investment and recommending changes accordingly.

Pricing Strategy Development

A CFO consultant will be responsible for developing and implementing the strategy that ensures the business sustainably monetizes its offerings. They will work closely with marketing as well as the sales team to understand the market demand and other factors affecting the price component.

Risk Control

A CFO consultant will identify and omit the risks that could hamper company growth and profitability. Ensuring the company has the right insurance and coverage and sales tax policies. Reducing exposure to regulatory risks is also an essential duty of Enterslice’s CFO consultants.

Raising Capital

A CFO consultant will help in raising capital for early-stage and growth companies. They will help prepare necessary reports and models to present to lenders and investors, determine valuations, and help seek and interact with potential investors to secure the funding a company needs. By maintaining a good relationship with the investors as well as maintaining a working financial plan, Enterslice’s CFO consultant can help the company attract funds from secondary investors and creditors.

Planning and Budgeting

The CFO consultant will manage the budgeting process and develop a company's financial plan. Predicting revenue and expenses, allocating capital, building financial models, and analyzing financial metrics are some of the steps of planning and budgeting. Throughout the budget-to-actual process, the CFO consultant makes sure that all the attributes are in place at the right time.

Mergers and Acquisitions

Our professional CFO consultants have expertise in helping companies strategize and prepare for an acquisition or merger. The CFO consultant will ensure that the business takes advantage of opportunities that arise, eventually helping the company's performance and profitability.

The role of CFO support service is very crucial for the operational excellence of the business. The primary purpose of a CFO consultant is to face challenges and provide support in the company’s finance function. Some of the major responsibilities of CFO support services/consultants are-

  • Evaluate the finances of the organization.
  • Help in the company’s business process by reviewing it and its financial systems.
  • Review work for the existing financial reporting of the company.
  • Helps the company in designing and implementing new business ideas and approaches.
  • Automation of financial report.
  • Implementation of ERP.
  • Adding substantial value to the business.
  • Reviewing the moving process and internal controls in the company.
  • Reviewing the reconciliation process and controls.

Benefits of Financial Reporting and Analysis done by a CFO Consultant

There are many benefits of financial reporting and analysis which is carried out by a CFO support service, some of them are listed below-

  • Assistance in developing transparency in a business.
  • An intelligible picture of the current market trends comes after thorough financial reporting and analysis.
  • The CFO will help in forecasting growth prospects and help in reducing the cost of products and services required to run the business.

Advantages of hiring a CFO Consultant in the PropTech Industry

Hiring a CFO consultant should be looked at as an investment, not an expense. If a company cannot see a path to a direct ROI, a CFO consultant with a high level of expertise in a field will be able to help a business achieve that. It is always worth finding a CFO consultant specializing in a specific business domain, and here are the reasons why-

SaaS Specific Metrics and KPIs

A Saas company is different from a traditional run-of-the-mill B2B or B2C company. A CFO consultant will focus on problems that are more specific to the SaaS industry. Aspects like churn rate, lifetime value, monthly recurring revenue, customer acquisition cost, and more will be looked at under the expert vision of our professional CFO consultant.

Industry Competitor Knowledge

Our CFO consultants have knowledge specific to your company's domain; hence, they will efficiently make profitability and expense comparisons, marketing tactics, etc. Our expert CFO consultants have hands-on experience in the industry, while an unspecialized CFO may struggle to find accurate findings and solutions.

SaaS Relationships

Our CFO consultants with hands-on experience in the SaaS field will help in getting better connections with investors, financiers, marketing experts, etc. As a company, you will find it extremely beneficial as it will help in landing successful contracts and vendor negotiations. 

Successful Track Record

Enterslice’s CFO consultant's hands-on experience and understanding of the workings of a SaaS company will allow you to get ahead of your competitors as well as grow, as the CFO consultant will already know where and what to invest.

Risks of not taking CFO consultant Service

A CFO is an essential part of helping a company to finish the race to greater profits; here are some of the risks associated with not taking any CFO service-

  • Unproductive and weak processes.
  • Waste of time and effort.
  • Loss of investor and client confidence
  • Lack of critical resources at times of need.
  • Missed opportunities for business and misguided decisions.
  • Revenue loss.
  • Exposure to unnecessary legal or tax risks.
  • Improper vendor negotiations.
  • Improper monitoring of KPIs.

Leading Industry in the PropTech Industry

Technology enabled easy access to data and made the user experience hassle-free and seamless. Internet services enabled businesses to cover more geographical areas, scale rapidly, and tap customers across the globe. The PropTech industry is further divided into two segments-

  1. Commercial Real Estate - e.g., Co-working platforms, fractional ownerships, etc.
  2. Residential Real Estate- e.g., Listing, home rental, shared living platforms, online brokerage, etc.

The PropTech Industry comprises the following-

Construction Technology (ConTech) - Construction technology refers to the collection of innovative tools, machinery, modifications, software, etc. used during the construction phase of a project that enables advancement in field construction methods, including semi-automated and automated construction equipment.

Sales Technology (SalesTech) – SalesTech may be defined as an amalgamation of tools and platforms that are deployed to accelerate and enhance sales productivity efficiently and effectively. Broadly, it can be classified as sales automation and sales enablement.

Sustainable Technology (SustainableTech) – Domestic real estate is gradually stepping up its initiatives towards sustainable development. The real estate sector consumes more energy than any other sector. While it is simple to ascertain the fact, it is equally complex to quantify.

Frequently Asked Questions

Answer- Some of the primary roles of a PropTech CFO are- • Accounting services • Improving revenue model • Creating Financial Strategies • Operation of financial metrics • Cash administration • Risk Control • Planning and Budgeting • Risk Control • Compliance

There has been a significant change in the roles of CFO because of the prevailing digitalization in the industry. A PropTech company is the convergence between real estate and software and digital solutions. A CFO has to make sure that all the finance-related aspects of this new industry are covered.

Enterslice's CFO consultants have hands-on experience with the latest market and industry trends. By staying up to date with the current business and market, a CFO will be able to manage all the PropTech business-related challenges.

A CFO will be able to successfully strategies for scaling PropTech startups by allocating the appropriate budget to the new and more efficient opportunities only after careful calculation and reduction of all the risks associated with it.

The CFOs have started using digital tools and technologies to improve fiscal analysis and reporting. They use a variety of data analytics and business intelligence tools to gain insights into financial performance and sieve the opportunities for betterment.

The Financial viability of a PropTech innovation is ensured by a CFO by conducting a cost-benefit analysis to assess the potential ROI of any innovation project. A CFO carefully analyses and evaluates the potential of an innovation project, keeping in mind the organization's strategic goals and financial capabilities.

The CFOs are well-versed and connected with potential investors; they will help a PropTech company secure appropriate funding through the means of targeting strategic investors and venture capitalists.

The CFO plays an important role in mergers and acquisitions. As the CFO is in charge of handling all the statistics about the finances of a company, they will prepare a company way ahead before an exit. A CFO will also list all the benefits of making a financial investment so that a company can earn maximum profits.

It is the CFO's duty to forecast any potential risk or revenue leakage. By constantly managing and observing the company's financial details, the CFO will be able to tell if a risk might hit the company. A CFO will also help with compliance so that a company remains legal in the trade.

A CFO will develop new sales strategies and refurbish the existing sales channel to improve revenue generation. Growth is proportional to the revenue generated by any firm.

Some of the key metrics a PropTech CFO focuses on are- • Average return per user • Churn rate • Net retention rate • Customer acquisition cost (CAC) • Monthly recurring revenue • Customer lifetime value • Lifetime Value (LTV) • Payback period • Days outstanding in sales

When a CFO makes a tech investment, they will also have a strategy to prioritize where to make investments in their software stack. The CFO will develop strategies to use existing customer data to launch selling initiatives that maximize profit.

The CFO is often in conjunction with an investor. Still, in a startup, the CFO works hard to maintain a healthy relationship with the investors and the lenders by presenting all the major financial reports and profits.

The CFO is able to ensure financial transparency in PropTech by making a detailed financial report and working closely with different departments.

By doing a proper risk analysis, which is done by carefully observing the complexities in different funnels of the companies on a global level, allocating appropriate resources, and handling the finances judiciously and appropriately, a CFO will be able to manage the financial complexities in global PropTech ventures.

It is a CFO's responsibility to look into future business scopes and dive into new and better sales ventures to generate more profit; this way, a CFO will be able to support a PropTech business development.

A unique and industry-specific challenge a PropTech CFO faces is creating a centralized system to ensure proper vendor coordination, fund allocation, etc.

A CFO will shape the vision of a PropTech firm by reading and analyzing all the business aspects along with the funds required to achieve the upcoming goals set by the company. A CFO's job is to keep the company’s competitors in check.

A CFO’s role in PropTech’s digital transformations is to ensure that budgeting is done properly and that all the resources required for this digital transformation are in the system.

One of the major roles of a CFO is to calculate and evaluate the ROI. A CFO will carefully curate the business analysis report, keeping in mind all the resources allocated and utilized along with the revenue generated so far along with measuring the loss (if any) into account.

A CFO is able to collaborate with the tech leaders in PropTech by making them understand the business needs and collaborating with them to understand how the technology available in the firm can help them achieve that. The CFO will also ask the tech leaders about their requirements, if any.

A PropTech CFO must understand the workings of the real estate industry. The real estate industry deals with multiple vendors and props that are put together to come up with a final project. If a CFO does not have a real estate background, then the company may suffer from risks and losses because of improper duties done by the CFO.

A CFO allocates the resources in the PropTech firm by carefully observing which department needs what, as it is a CFO's duty to know all the details and resources a firm needs to operate.

A CFO will have the right tools at their disposal to work more efficiently and accurately without wasting any time. Some popular tools CFOs use are Trello, Power BI, Salesforce, etc.

A CFO is able to prepare a budget for PropTech R&D by meticulously calculating all the business needs and requirements. With proper analysis, the task is achievable.

Strategies that drive the cost efficiency in PropTech are- investment analysis, property management, construction and design, development, etc.

A CFO approaches the talent acquisition team in a PropTech firm to fulfil any business requirement. The CFO will tell the department about the needs and what to look for in an ideal candidate.

The CFO is required to handle all the compliance needs of a company; property regulatory compliances will be treated by complying with the prevalent laws of the CFO.

A CFO will be able to build PropTech partnerships in the following ways- • Create a shared vision • Establish trustworthy and transparent communication • Build mutual respect for collective expertise • Maintain the trust by remaining flexible.

A CFO prepares for market shits by following ways- • Managing cash flow • Balancing short-term and long-term insurance • Managing risks • Retaining critical talent • Optimizing financial process.

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