When Should You Consider Outsourcing Your Accounting Operations?
Regardless of what business you’re in, the Chief Financial Officer and supporting financial team play a vital role in your company’s success. However, if you’re a small business, you may have been handling most of the financial responsibilities yourself. That may work for some time, but isn’t an option for long-term success.
If you’re wondering if you should seek outside help, ask yourself these questions:
- Do you extend your workday into nights and weekends just to keep up with accounting records?
- Are you pulled away from vital new business and selling tasks to keep your back office afloat?
- Are you unable to assess your company’s profitability for the next 60, 90, or 365 days?
- Are you struggling to identify areas to improve your margins?
If you answered “yes” to any of those questions, know that you are not alone. Many small business leaders reach a certain growth threshold, where they need knowledgeable and experienced financial talent to take their company to the next level of success.
The problem is, as a growing organization, you may only require help just a few days a week. Or perhaps you only need a CFO once a month, and a part-time accountant for a few days a week. Consider Part time CFO Services for a custom team-based consulting solution. Outsourcing your accounting services on a part-time basis is a great way to reap the benefits of financial executives, without breaking the bank.
Benefits of outsourcing your financial team include:
- A financial advisor at your fingertips to assist and guide you with financial decisions.
- Assistance raising capital, if needed.
- Expert in your financial data with weekly, monthly, and quarterly insight.
- More time to do what you do best: concentrate on running your company.
If your company is in need of the resources of a complete accounting team, but not in the position to support the financial investment, consider Part-Time CFO Services for a cost-effective solution. Our experienced consultants work as an extension of your team to help support your business goals.