Outsourced Finance Services
It is common practise for an SME to outsource their bookkeeping, payroll and or compliance related tasks to a professional service provider or accountant. This is because it usually works out more expensive to have employees on the payroll to deal with these important and necessary jobs. However there are also significant benefits that can be realised by outsourcing the finance director role.
It is clearly a difficult decision for some directors to let go of the financial reigns and although their expertise lay elsewhere in the business they may not have seriously considered the value an experienced financial director can add.
Invariably directors who have taken the tough decision to trust an experienced advisor to manage the businesses finances have found that their time is freed up to manage the running of the business generally. Similar to bookkeeping, payroll or filing tax returns the finance director’s role is a position that demands the attention of a qualified and experienced individual rather than an enthusiastic and passionate director.
This is where our outsourced finance director services can help. Outsourcing ensures that important duties are taken care of without the additional cost and burden of taking on more staff, leaving you free to do what you do best – running your business.
The outsourced FD’s we work with can utilise the software you currently use, alternatively and if appropriate, may be able to demonstrate a definite advantage in adopting modern online solutions such as Free Agent, Sage, Xero or Kashflow to mention a few.
Utilising the most efficient software will enable your outsourced finance director to deliver timely and accurate reports such as:
It will also enable your advisor to provide informative and balanced advice regarding:
An outsourced FD can be worth their weight in gold and quickly become a valued part of the businesses infrastructure. The benefit of outsourcing this function is the flexible nature of employing a FD for when you need one the most, having an experienced and qualified advisor on hand and in easy reach.
It is essential that you feel comfortable working with an outsourced FD, that you can build a robust relationship with your advisor and that you can have that trust in their ability and decision making. Please give us a call to enable us to make that initial introduction.