Background

A leading advertising and marketing agency required a finance partner to assist them in their growth journey with proper financial management and insights, in addition to handling the hassle of legal, commercial, secretarial, and financial matters. They chose Proaegis as their virtual CFO partner because of the background and experience of the management team, as well as the comprehensive range of services provided by Proaegis.

Challenges

The founder of the advertising and marketing agency, who is a renowned ad filmmaker and movie director, recognized the need for proper financial management support when starting the agency. As a person with a creative bend of mind, he preferred to focus on his strengths rather than handling numbers and compliance. Hence, he believed that having a virtual CFO would be beneficial.

Results

Proaegis has played the crucial role of a financial advisor for the agency through its journey. Proaegis has provided a range of financial advisory services to the agency, supporting the company's growth and success. By helping the company develop a business plan and establish financial processes and policies, Proaegis has laid a strong foundation for financial management and decision-making. Additionally, by analyzing the company's financial statements and providing financial analysis, Proaegis has helped the company better understand its financial performance and identify areas for improvement.

As part of the engagement, Proaegis prepares the monthly and annual financial statements for the agency. By taking ownership of the financial statements and ensuring their accuracy and completeness, Proaegis is helping the agency meet its reporting obligations to banks, auditors, and other statutory bodies.

Proaegis also negotiates all the contracts with the client on behalf of the agency to ensure that the company's financial interests are protected and that contracts are structured in a way that aligns with the organization's overall financial goals. By evaluating the financial implications of different contract terms and pricing structures, Proaegis is helping the agency to make informed decisions about the contracts they enter into with clients. This includes analyzing the potential risks and opportunities associated with different contract terms, as well as ensuring that the pricing structure is appropriate for the work being performed and the value being delivered.

Proaegis also provides valuable support to the agency in analyzing the financial performance of their business segments viz. Advertising, Creative, Digital, Production, and Public Relations, on a periodic basis. By evaluating the performance of each segment on a periodic basis, Proaegis has helped the agency identify areas for improvement and take action to improve their financial performance through actions such as adjusting pricing to improve profitability or tightening scope to reduce costs. By prioritizing resources and focusing on the segments that offer the greatest potential for growth, the agency is better positioned to achieve its financial goals and drive long-term success.

Finally, by managing tax and secretarial compliance, Proaegis has helped ensure that the company is operating in accordance with relevant laws and regulations, reducing the risk of legal and financial penalties.

Overall, Proaegis has played a crucial role in the growth and success of the company and its ability to make informed business decisions.

"As a advertising and marketing firm, I have relied on Proaegis’ exceptional financial expertise and have been consistently impressed with the strategic financial insights they have provided over the years. They have helped me to better understand my financials and make informed decisions that have positively impacted my business's bottom line. They have been an invaluable finance partner in our journey, and I highly recommend Proaegis’ virtual CFO service to any business owner needing expert financial management services.”

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