4 Lessons Learned: Accountants

Why Outsource Controller Services is a Wise Investment?

As your company starts expanding and growth, it is a big responsibility among CFOs to ensure that all priorities are met. The recruitment of talented individuals, constantly improving reports as well as adding value to business are the main concern of CFOs. Being able to know financial controller is like getting the basics of enhancing efficiency and finishing the job.

In the next paragraphs, you are going to discover the different ways in which outsource controller services can grow your company.

Number 1. Staffing costs – the recruitment and training of a full time controller can be costly and this has no assurance of efficiency and quality. Whether you believe it or not, the average salary for a controller is at around $94k and it could go higher to $146 which can go higher as per location and expertise. Outsourced controller services are averaging at $2,500/month or $30,000 a year which is 1/3 or less of the initial cost of hiring full time onsite controller.

Number 2. Expertise – aside from saving money on the cost of staffing, such service lets your CFO with wide selection of expertise option. Yes it is true that a controller for your company gives you a staff member who is specifically qualified for that area. But it’s totally different as you made a decision to use outsource accounting service for this gives you the chance to easily find talented individuals who have the knowledge and experience you need.

There is no added expense on the benefit package, salaries and office space due to the extra staff. In case that you are in search of a specific service or expertise, all you have to do is to ask for it.

Number 3. Access to tools – instead of investing huge sum of money to buy special software, you’ll be able to have accessibility on numerous tools that can offer significant improvement and efficiency of reporting, bookkeeping processes and management of accounting, forecasting and budgeting, projections and cash flow management, inventory tracking and job costing, key metric benchmarking, advisory services as well as audit preparation, strategic guidance.

Number 4. Lower risks of fraud – your employees are going to need oversight yes but when talking about the company’s financial status, then expect that this is something that requires stringent supervision especially in fraud activities. While it seems like hiring people who could decrease the probabilities of fraud, outsourcing has the ability to catch more errors.

The outsourced controller still cares for your business and it is because of this how you have less opportunity for breaches, cover-ups and collusions by deceitful employees. Outsourced controller team will make sure that proper control is implemented and develops method to use them accurately.

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