Recent trends show that more and more businesses and Not-for-profits are outsourcing Financial Services. Can it be sustainable? What are the benefits?
The greatest advantage of outsourcing is to keep the owner/manager in their strength area: operations. They are running successful businesses because they are good operators. The finance end can be left to the outsourced experts.
Catalyst Financial Operations (CFO) came about to address this need precisely. We were already doing this work for a number of our clients with incredible success, so we decided to offer the service to all of our clients and to new prospects that may be interested.
When is it time to outsource? Here are some key indicators:
- Financial obligations are taking time away from clients
- Financial needs become more complicated and technical as your business starts to grow
- Inconsistent or unpredictable cash flow
- You feel you don’t have the time to grow your business
- You dread it
- Lack of timely, concise, relevant reporting
- High dependence on key personnel
- You make mistakes but aren’t sure how
- Unmanaged receivables or payables
- Your lender requires regular reporting
- You are seeking new financing or need assistance with annual renewals
Outsourcing this role cuts down on the costs of hiring full time employees to do the same services. The work gets done without impacting your bottom line. An entire team of qualified accountants will be behind you, ready to help navigate high level accounting needs as they come up.
Catalyst has always worked beyond the numbers and is devoted to bringing businesses to the next level. We understand that everybody and every business is unique. We work directly with our clients to ensure they are making the best moves suited to them. Give us a shout today to inquire about Catalyst Financial Operations, or even just to ask a few questions.