When your Bookkeeper isn’t giving you the analysis and expertise you need, it may be time for Outsourced Controller services. A controller is a vital part of the accounting department for every business. They head up the accounting department and are responsible for supervising bookkeepers and accountants, producing month-end close reports and helping guide CEOs to make critical business decisions.
What Does an Outsourced Controller Do?
An outsourced controllers’ rules and responsibilities vary based on the projects or services offered by the outsourced financial services company. An outsourced controller may be working as a stand-alone expert for an organization to organize books and get reporting up-to-date. A controller may also be in a supporting role for a strategic CFO for projects such as determining cash flow issues, implementing new accounting systems, or helping raise capital.
In general, an outsourced controller’s main expertise is in tracking financial data and in reporting.
A financial controller’s main duties and responsibilities include:
- Managing information technologies
- Financial & regulatory compliance
- Accounts payable/accounts receivable
- Cash balances
- Financial report preparation
Benefits of Outsourced Controller Services in Gilbert
Outsourced controller services allow companies to benefit from things they wouldn’t get with an in-house controller. CEOs won’t spend precious time dealing with staffing pains, supervising work and documenting exact guidelines a controller should follow. Below are some benefits your company can get when they outsource their controller function.
1. Trusted financial advisors
When you require more than just a bookkeeper, you can count on us to provide you with the advice and tools you need to power through your day. We implement processes and procedures that will alleviate your workload while leaving you financially confident and able to focus on growing your business.
2. Interactive, real-time dashboards
Leveraging the latest technology, our cloud-based accounting solution enables you to work smarter and faster. We can create custom charts and reports that deliver real-time visibility and valuable insight via an interactive dashboard, enabling you to make more strategic business decisions.
The reports you get at the end of the month show your business’s overall standing. They are important because a CEO can see where the business is doing well and where it isn’t. Depending on the needs of a business, the month-end reports will look different. A standard month-end close typically consists of an income statement, balance sheet, accounts payable and receivable and a statement of cash flows.
If your business requires more in-depth reporting, the package could include things like budget vs. actual and custom reports showing profitability by customer, jobs, products or services, marketing spends, employee, department, etc. Those “management” reports allow the CEO to get actionable financial intelligence that helps make data-driven decisions such as:
“Am I pricing my jobs right?”
“Which products or services are most profitable and should be the focus of our sales and marketing dollars? “
“Which staff contribute the most to our profitability and how do I find
more people like that?”
There is no limit to the number of reports your business might need or want. A benefit when using an outsourced controller is they know how to produce any report your business could need.
3. Deep financial intelligence
When performance matters, you can count on us to deliver metrics tailored to your unique needs. With specialized expertise across multiple industries, we’ll deliver the intelligence you need when making critical business decisions.
4. Flexible pricing
Outsourcing your accounting is a great way to save money—while still receiving the support you need to grow your business. From part-time to full-time, our team works with yours to ensure your goals are met on time and on budget.
Is Your Business Ready to Hire an Outsourced Financial Controller?
It might not make sense for all businesses to outsource their controller function, but it can provide certain businesses with expertise they might not currently have and can’t afford. If you aren’t receiving timely month-end reports, or you have to spend time on accounting instead of growing your business, outsourcing may be a solution for your business.
Limitless Investment and Capital Outsourced Financial Controller Services in Gilbert
We understand that personnel changes or business circumstances often create immediate needs for experienced controller-level assistance on an interim or permanent, part-time basis. By outsourcing your controller function, you’ll be able to use resources as needed, without prematurely adding unnecessary overhead costs.