For small businesses, outsourcing is the ideal option to achieving cost savings. This is certainly the case for core functions, such as IT, marketing and accountancy services, where businesses can take advantage of employing expert services whilst avoiding the need to increase staff costs and overheads.
However, there is now a growing emphasis on specialised outsourced arrangements - bringing value to a company above and beyond the cost savings made.
How does an outsourced financial controller/director add value?
Instead of focussing on past figures (unlike accountants, who are typically engaged by small businesses to only produce a set of accounts based on the past month, quarter or year for statutory and reporting purposes), outsourced financial controllers/directors are interested in the past, present and future performance of a business. They enable businesses to understand their financial position and how to bring about change in order to improve cash flow and profitability going forwards. They work with businesses to implement plans and strategic decisions for improved financial, operational and growth outcomes.
Outsourced financial controllers/directors are also considered to be part of the business, rather than as a service provider, thus contributing to the wider objectives of the business as well as boosting credibility whilst dealing with external parties, such as banks.
> Increase profitability through improved financial control
> Awareness of short term cash position
> Plan future financing arrangements and requirements
> Set realistic, yet challenging, targets and receive guidance on how best to achieve the results
> Make appropriate business decisions through increased financial awareness
If you wish to find out more about Pure FS Support's outsourced services contact us.