Outsourced Finance Departments: The Smart Move for Growing Businesses

Businesses with growth as their main priority quickly discover how difficult managing finances can be, especially without a dedicated finance team. Despite that, most businesses do opt for in-house financing. However, there’s  a better way - financial outsourcing. Let’s get into how this practice has been helping businesses flourish. 


 

Optimized Resource Allocation - Why Hunting For In-House Financing Is A Drain

One of outsourcing’s most immediate benefits is time and cost savings. All the time, money, and resources that get allocated to the recruitment process, from initial screening to interviewing, take up a chunk of the firm’s resources. These resources would be better allocated elsewhere, on more productive pursuits such as business growth instead of on in-house bookkeeping services.

These costs, when avoided, are resources waiting to be allocated elsewhere, such as on better equipment, expanding the office space, or recruiting dedicated financial planning consultants.

Inefficient Scaling & Systems Not Keeping Up

How do most businesses manage their finances  in-house? The answer is, through accounting software and beginner tools. While these may suffice for a small business or startups, they’re unable to keep up with the business as it scales. These tools don’t offer the same value as professional accounting services do when it comes to matters such as inventory, tax regulation compliance, keeping the firm's taxes in order, and providing actionable insight 

A business has to scale efficiently, and that means the financial systems it uses have to keep up with the growth and not hinder it. At some point, all growing firms need to consider real, human skill over digital tools - such as a CFO for small businesses to help owners increase their ROI and meet their business growth while scaling appropriately.

 


 

Fortress Accounting - Financial Outsourcing Done RIght

Running a scaling business and managing finances takes too many valuable resources from owners, but it doesn’t have to. 

A great example of why outsourcing works for small businesses are firms like Fortress Accounting. In just five years, the company has gone global, providing real-time financial strategy targeted at scaling businesses. With proven growth, expertise spanning several areas such as taxes or wealth management, and a team of professionals, contact them for outsourcing that maximises value.

 

 

 

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