Why your business needs an Outsourced Finance Director

This was meant to be the dream. You’ve created a great service. You’ve poured blood, sweat and tears into your budding business. Now it should be about financial freedom, holiday homes in the Canaries and living your best life…

Instead? It’s overwhelm.

Sore eyes from staring at the figures for too long and far too much time spent on admin in your business instead of time working on your business.

Undoubtedly you’re skilled at delivering your products and services, delighting customers at every juncture but what was once your raison d’être has quickly become a dreaded, tiresome task, spilling into all aspects of your life.

Sound familiar?

Poor financial information, a lack of financial control and rapidly dwindling cash flows are the stuff of nightmares for any business owner, often turning the bright-eyed, bushy-tailed entrepreneur into the despondent creature from cautionary business tales.

And while most Company Directors have the necessary knowledge and ability to keep detailed financial records, it takes years of financial expertise to use this information to hone your strategy and plan for the future.

You’ve got the requisite figures, but you can’t see what’s behind the numbers or what they mean for your future strategy.

It doesn’t have to be this way.

This is where an outsourced Financial Director (FD) comes in.

Why should you consider outsourcing your financial direction?

The role of the Financial Director (FD) within a business is simple: to oversee, and have responsibility for, all financial aspects of an organisation.

But while most SMEs would benefit from the objective insight, expertise and perspective of an in-house FD, the reality is that many businesses cannot afford the high costs of such a service while the business is still developing.

Bringing in an outsourced FD can offer an excellent alternative.

By regularly working with a business to provide long-term and tailored support, an outsourced FD should be able to quickly understand an organisation’s mindset, help them plan for the future and work with them towards a shared vision.

But that’s not all.

Looking beyond the numbers…

The strategic information offered by an outsourced FD, from monthly management reports to cash-flows and profit forecasts – and everything in between! – will enable you to make informed decisions, reduce risk and work towards your business objectives without the hefty salary commitments.

Love it or hate it, our always-online, tech-obsessed society offers your business unprecedented opportunities: it’s never been easier to start and grow your business on a global scale. The internet empowers businesses of all sizes to advertise products and services to anyone worldwide.

While this is a great opportunity, it doesn’t come without its troubles. Operating within different jurisdictions brings a host of laws and rules that can be complex and time-consuming to navigate alone.

An outsourced Finance Director is there to offer sound guidance on new legislation, providing you with the best ways to adapt your existing systems, and ultimately, freeing up your time to focus on what matters to you.

In our experience – we should know! – accountants are far more interested in historical data: reporting the facts after they’ve happened.

If you’re looking to grow and scale your business, then you are not looking for an accountant.

You need a wingman.

A specialised team member that is focused on making your business thrive. One that will give it to you straight, without beating around the bush, bringing with them years of battle-scars won at large and mid-tier enterprises.

An FD is interested in where your business is going, not where it’s been.

For example, an FD can make sure your business utilises the right software to support financial reporting, scrutinise how cash flows through your business and proactively ensure that your company has the money needed to navigate even the choppiest waters.

Sounds great, but what’s it going to cost?

The cost of an outsourced FD is usually agreed as a monthly fee based on the number of days or hours your business requires. However, you may also need to factor in travel and other expenses.

Above all, outsourcing your financial direction will free up your time and enable you to focus on the areas of your business that are most important to your growth.

For many Business Owners, that’s priceless.

Meet Dave Finn FCMA

Our Outsourced Finance Director service is led by Dave Finn FCMA.

Dave is hugely experienced and knowledgeable and will work with you to deliver your growth plans, to clear up any confusion and to get your organisation back on the track to success:

‘What you will get as an Outsourced FD? A friendly, trusted advisor who helps you to reach your goals. I will deliver value and growth by driving operational efficiency, process improvement and team development. I’m ready to roll my sleeves up and get stuck in with you.’

If you’d like to talk to us about our Outsourced Finance Director service, please get in touch with us today and we can arrange a preliminary call with Dave to find out more about your specific business needs and how we can help you achieve your future growth ambitions. Simply complete the form at the bottom of this page or call: 0333 242 3743.