It is observed now-a-days that SMEs generally suffice with an accountant who is not fully conversant with required accounting and financial knowledge, experience, skills and required trainings. This will hamper both the sustainability and growth of the business. It is advisable to outsource managerial financial matters with a competent firm fully versed and experienced. Costs are much less that the benefits from their engagement.
Amongst many other things , mentioned below are what they shall serve :
- Setting up and review of your accounting department,
- Managing banking relationships,
- Cashflow forecast and working capital management,
- Accounts receivables and debt management,
- Management information reporting,
- Recommending, implementing, auditing, internal controls,
- Risk management,
- Advisory on sale and purchase of business,
- Recommending, implementing, reporting and auditing of budgets, KPIs, KRIs & targets,
- Payroll management and incentives.,
- Business Valuation
- Business Plans & Feasibility Reports
These things require high level of experience, knowledge, skills and education which an normal accountants would not be able to provide. You could outsource with us.