Does Your Small Business Need Outsourced Controller Services?

Your small business is thriving and revenue is coming in. Amongst all the growth, there are questions about your future. You find yourself worrying about future business plans, tax compliance, and planning short term and long term business strategies. Are you pricing your services correctly? Do you feel a shortage of cash flow? Which services are the most profitable?

There are a lot of tough questions your small business needs to answer. It may be time to consider outsourced controller services help your company make the best decisions possible.

What is a Controller?

A controller is a vital part of the accounting department for every business. This individual is responsible for all accounting related activities, including high-level accounting, managerial accounting, and finance activities within the company. Typical duties for a controller include assisting with the preparation of the operating budgets, overseeing financial reporting and performing essential duties relating to payroll.

Why does a Small Business Need a Controller?

Hiring a Controller for your small business can be extremely beneficial. Your Controller can perform the following (and many more):

• Goal setting and strategic planning

• Budgeting, financing, collect receivables

• Prepare financial statements in accordance with generally accepted accounting principals,

• Turn around a marginal company into a very profitable one

• Prepare accurate management reports with KPIs

• Help identify areas to cut costs

Controller services can be tailored to suit the unique needs of your small business. Like any small business owner, you have a finite amount of time and energy. There are only so many resources to go around. At a certain point, financial and accounting matters will become too complex to simply be delegated around to your team of employees. Ensuring all your financial statements are prepared correctly is crucial to your small business’s success. Without proper information, your business’s leaders cannot make beneficial decisions to help your company prosper.

Outsourcing your Controller

Outsourcing the controller function has become a new way CEOs can benefit by cutting costs, gaining expertise and making confident business decisions. In fact, a good controller should have multiple years of experience working for other companies and an accounting degree. You will pay significantly less for this expertise opposed to hiring a full-time controller that will also need benefits. Outsourced controller services ensure their candidates have been properly trained and have up to date knowledge on all new accounting processes and procedures. They will be able to provide expert knowledge and help guide decisions that will help your business grow and make more money.

Your small business can also control turnover rate from outsourcing controller services and eliminating the hassle of posting the job, interviewing, and training a new employee. Many companies have regular turnover in their accounting department, and the time and money that goes into finding and training someone new can really add up if you are filling a position every two years. Outsourcing controller services allow business owners to focus on making money while having someone to really on day in and day out.

Schedule a free business accounting consultation today to get your finances under control
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Problems Businesses Face with Outsourcing Their Controller Function

Although outsourced controller services work for many small businesses, they do not fit the need of all. Sometimes business owners have hesitations moving their controller service out of office. Some of these hesitations include:

• Communication Issues

• Don’t Know the Business

• Different Locations or Time Zones

• Loss of Control

While these can be valid concerns, most outsourced controller services know these apprehensions exist and work to tailor specific solutions to businesses so that these issues are minimized.

Limitless Investment and Capital Outsourced Controller Services in Phoenix 

When performance matters, you can count on Limitless Investment and Capital to deliver metrics tailored to your unique needs. Our controllers in Phoenix will manage all of the accounting functions in your company while providing timely, meaningful and understandable financial information and analysis. We ensure the integrity of processes, procedures and information systems and help everyone work together in their respective roles efficiently.

We are dedicated to providing management with assistance in financial decision-making as well as with bills due to be paid and daily cash receipts to manage cash flow. We are experts in serving as the financial communicator between management and the accounting team and vice versa. Get In Touch Today!