It is very time consuming and costly to start a business. Establishing an affordable and qualified team of professionals is an important first step for a strong and organized start. Outsourced accounting services provide a cost effective and efficient way for a start-up to establish an experienced team.
By outsourcing critical functions such as a Bookkeepers, Controllers and/or CFO’s, a company can obtain necessary expertise without the commitment and expense of full-time hires. These services, available on an as-needed, hourly basis, provide dependable, affordable and immediate expertise during those crucial first years. You get the advantages of an experienced professional even if you can’t afford a full time hire with the necessary experience. In addition you don’t have to spend valuable time interviewing candidates. A firm like this can supply your company with immediate necessary resources, and you can spend time doing what you do best.
Below are some of the roles that can be outsourced, and the responsibilities and benefits of each:
• Bookkeepers: For any business, a well-trained, professional bookkeeper is an absolute must. The books and records are the heartbeat of any business. Accurate books enable business owners to make informed financial decisions. Bookkeeping services provided by an experienced firm will provide a clear picture of the books so that business owners can be sure that they have the money to cover payroll and to manage payables and receivables.
• Controllers: Even the best bookkeepers need a senior level financial professional to review their work and help the business owner understand what the books really mean. This is the role of the Controller. An outsourced controller can use the raw financial data to develop dashboards and metrics that help a business owner understand the strengths and weaknesses of the business, and how to grow and improve.
• CFO’s: Entrepreneurs are often so busy running their businesses that they have little time for strategic planning. A CFO can help a business owner navigate “what-if” scenarios, expansion and growth, and other strategic decisions. Outsourced CFO’s offer not only high level financial expertise at an affordable price, but also have professional networks that include bankers, CPA’s and Insurance providers to assist with all aspects of your business. Outsourced CFO’s provide business owners guidance through complex business decisions, without the need to have a high-paid professional on staff full-time.
Inc. Magazine lists accounting services as one of the top seven areas to outsource now! As you consider the present needs, as well as the future growth of your business, consider outsourcing as an effective tool for immediate acquisition of critical expertise. Interested in learning more? Read about the outsourced accounting services that we provide here.