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I Have a Finance Team but I Don't Feel I'm Getting the Best Out of Them

In this article, we will examine the most common reasons why finance teams underperform - 1. Missing accounting automation, 2. Transactional accounting 3. Lack of integration - and what can be done to improve their performance. An external financial partner might be a good option for companies that are always searching for help with functions that their in-house finance department cannot perform.

Financial Contingency Planning Is Crucial for SMEs

Whether you are running an established small and medium-sized enterprise (SME), or you are in the early stages of forming your business, having a solid financial contingency plan is a must. Understandably, if you are just starting off with your new endeavour, you might not be necessarily thinking about developing your contingency plan — you’re all focused on growing your business.

Five Ways You Can Improve Business Efficiency by Reviewing Your Finance Function

Making a company more efficient should be a goal for every business owner. Business efficiency refers to the fundamental reduction of wasted resources used to produce output, whether the latter be physical products or services. As a result, efficiency determines how effectively a business converts inputs such as capital, labour, and materials into outputs like revenue, goods, and services.

Checklist for evaluating Outsourced Financial Accounting companies

There are a number of very good reasons why you might be thinking of outsourcing your finance department or certain functions within your finance department, some are: 1) Want to free up time for self, 2) Tired of doing everything yourself, 3) Not able to hire someone full time, 4) Don’t want to hire someone on a payroll, 5) Need more expert financial analysis for growth, 6) Want someone who can provide future focused forecasting and 7) Help you with cost savings, investing better and make more informed decisions.

Hiring vs Outsourcing for Entrepreneurs

If you will not value your own time, who will? Staying in charge of a growing business also means you never let go of the hawk-eyed perspective of growth. Staying on top of how each department is effectively growing is essential for any entrepreneur. Will it be easy and quick for you to spot where you can you save costs and how you can optimise your business processes to save more money?

When is the right time to outsource your finance function?

Running a start-up, small- or a medium-sized business is a lot of hard work. You are bound to be caught up in a multitude of business processes which can make it tough to focus on the core vision of your company. A key mistake most entrepreneurs make is not asking for help on time. Delegating certain jobs offer key advantages to you and your growing team.