Some really great reasons to outsource the function of your finance department
You might be considering outsourcing, and would like to know some of the benefits; or if you've never even considered it before... perhaps we can sway you round to our way of thinking!
We think there are three main reasons to outsource your financial administration: staff, experience and convenience.
- You get access to all levels of finance professional, from an FD to a bookkeeper, without having to employ these people individually. You will always have access to the right level, but will only pay for the level you need.
- When you need to grow your finance team, instead of having to take a big step up, and hire someone new, we can manage that for you. Flexing our team to offer you greater coverage when you need it, and flexing down if needed too.
- We’ve done it all before, if you’re setting up a new company – we’ve been there. And we haven’t just helped set up one or two, we’ve done it for 50+ businesses. None of which have been the same, we’ve helped set up well funded companies; companies with just two beans to rub together; family businesses; businesses in all industries. You couldn’t get that experience in-house.
- You benefit from the accumulative experience of all our employees, we work as a team and rely on each other. With many years’ experience between us.
- We’re experts in at least three accounting systems. Many of our clients use different systems so we’re familiar and comfortable switching between them, and adopting to the needs of your system of choice.
- You benefit from our background research and we don’t charge you directly for it. Financial administration is our full time job, and so we make sure that when challenges crop up on any of our accounts; we research and work through it as a professional team, which means you can take advantage of those new skills. And if a challenge crops up on your account, we know how to work through it without leaving you uncovered.
- We have a full suite of services available if needed. Tried, tested and fully integrated, which saves you time and money if you want to upgrade or take on something new.
- We have a large network of services providers who we trust, have used before, and can recommend to you. Including Insurance Brokers, major banks and employment lawyers.
- We promote our clients to each other, e.g. a Digital Marketing company that we work for does Marketing for several of our other clients. It benefits us to nurture professional relationships because it benefits your business.
- We’re efficient because it’s in our best interests to be efficient. Unlike an in-house department who complete tasks rather than generate revenue. The better you do, the better we do, we want you to grow.
- Most companies hire a bookkeeper in-house, and then bring in an external accountant for the Year End. However that external accountant won’t be familiar with your accounts and may struggled to get the information needed from the bookkeeper. None of this is an issue when you outsource, as we do everything as a team and communication between the people who work on your accounts is always good.
- In outsourcing day to day administration, everyone in your office is devoted to the core function of the business, so you can focus your team on delivery.
- You can run a paperless office, because we keep everything on site with us, easily accessible when you need it, without worrying about storage.
- We are more aware of changes in legislation and technology than in-house teams because we handle the accounts of 60-70 businesses. Small changes may not factor on the radar of an in-house team working for a single business, but it’s in our best interests to be on top of legislation and technology as it affects all our clients.