Outsourced CFOs and/or Controllers are financial experts who help your business by providing strategic planning, cash flow management, loan document preparation, tax planning, and forecasting services (to name a few). There are several reasons why outsourcing your accounting functions makes sense.
You aren't an accountant. You are a business owner that needs to focus on how to grow your business. If setting up an accounting system, making monthly journal entries, closing books, running payroll, and keeping up with new regulations and pronouncements doesn't sound like your cup of tea, it may be time to get some help.
It's too expensive to hire a CFO or Controller full time. You may be just starting out, or you simply don't have the budget to have this expertise in house on a full time basis. The good news is that by outsourcing a CFO or Controller, you can have one on your terms.
Outsourced accountants can be your extra set of eyes. You can keep control over your finances and have a turn key solution to help prevent fraud with outsourced accounting. It's a nice check on your bookkeeping to have a Controller or CFO review your books and records. As an added bonus, you might get more sleep at night.
Payroll processing can be tricky. There are tax and benefit issues a plenty here. An experienced professional can help.
Outsourced CFOs and Controllers have an eye for efficiency. Business operations and accounting go hand in hand. An experienced accountant can identify trouble spots, and help to improve business and financial operations. They can set up budgets and forecasts to help get you on track.
Getting financing for your business takes time and preparation. An outsourced CFO can get your financial house in order to get through the gauntlet of bank loan requirements or prepare for an upcoming merger or acquisition.
Outsourced accounting is not just for a small business getting off the ground. Every business is interested in getting more value for the money. NexTier Solutions has over 20 years of experience in finance and accounting. We offer many different plug and play solutions to help you maximize your business potential.