Financial Controllers (FC) are responsible for the day to day operations of a finance department, including compliance and reporting. Depending on the size of the company, a FC provides broader vision and leadership as well as hands-on management.
why outsource financial controller?
The option of having an outsourced FC is quite common now, partly due to the rise in the use of computerised / cloud accounting systems (eg: XERO), which makes it easier to analyze and understand the information and increased awareness of the need for better financial management skills.
who needs outsourced Financial Controller?
A small business don’t have to have more than one accountant and bookkeeper, with the assistance from external accountants. Although the internal accountants can also handle the compliance work however they don’t have the extensive experience to manage day-to-day operations of the business as a whole. The external accountant does not involve day-to-day operations and usually overlook the business’s fast strategic plan, they don’t she much light on why the business is getting the results they are getting and annual accounts arrive several months after the year-end. And usually with costly service fee.
That is why - you should consider hire an outsourced, or part-time financial controller.
Having access to an outsourced FC enables the business owner to be provided with quality financial information and analysis skills to make good decisions, all at a fraction of the cost of a full-time FC.
how we can help
understand the business and what relevant information required to run the business
implement the suitable accounting system, or improve the existing accounting systems and identify Key Performance Indicator (KPI) to be able to provide the relevant financial information that you need
improve the existing financial processes
mentor and coach existing employees
prepare budgets/forecasts
cash flow management
provide financial inputs to decision making