An increasing number of start-ups & SMEs are able to scale up whilst keeping a careful eye on overheads through outsourcing financial management functions. Most commonly routine finance and accounting services such as payroll and bookkeeping are outsourced, but increasingly other areas of finance can also be successfully outsourced.
Outsourcing finance functions helps companies to save overheads such as staffing and infrastructure, as well as related training and staff development costs. Outsourcing helps companies to avoid these expenses altogether and hit the ground running as their businesses grow.
Other advantages include:
Quality resources on demand
Hiring finance professionals in the early stages of a business uses precious capital and is a distraction from the main focus on winning customers and developing products and services. Outsourced finance processes give small companies access to quality professionals and improves business productivity.
Outsourcing allow organisations to scale up (and down) quickly in response to developments in the business.
Focus on Core Business
Outsourcing non-core functions helps SME founders and managers focus on the core functions of the business.
Speed of service
In addition to the quality service from the vendor, outsourcing of finance and accounting helps the organisation with quicker turn-around time which can boost their overall performance.
Business owners can get the bespoke support they need in outsourcing their finance & accounting services from EFM. Our nationwide team of experienced and multi-sector finance professionals range from high level Finance Directors & Financial Controllers, to lower level support functions, such as Bookkeepers, Credit Controllers & Payroll Managers.
To find out more around how EFM’s tailored financial management services can benefit your company, get in touch with the central team. Contact us via firstname.lastname@example.org or call 01582 516300 to set up your free one-hour consultation.