Your company is growing quickly, which is fantastic, but your accounting has also become more complicated. With more cash coming in, aging invoices to pursue, and investors to attract, you simply need more help running your financial and accounting functions. A quick review of the budget reveals little room for a permanent, full-time controller. What do you do?
If you need a cost-effective road map to grow your business or make it more attractive to investors, outsourced controller services can connect you to resources that meet your temporary or long-term needs. Ravix Group can provide outsourced accounting and bookkeeping services without expanding your compensation, benefits, and other overhead costs.
What Are Outsourced Controller Services?
No matter how big or small, your company requires a steady hand to achieve accurate financial reporting and management. If you have a limited budget, outsourced controllers can deliver the results and information you need for stability and growth.
Some of the specific duties of an outsourced controller include the following:
- Create financial reports that facilitate timely business decisions
- Liaise with legal team to achieve local and federal compliance
- Administer collections and payments to improve cash flow
- Communicate financial standing to shareholders or other investors
- Provide internal accounting and bookkeeping services
- Create and facilitate procedures for tax and treasury obligations
- Oversee budget and forecast processes
- Create a business plan with concrete, achievable goals
How Do Outsourced Controller Services Benefit Businesses?
Outsourced controller services free up the schedules of the CEO and CFO. Your leadership team can focus on growing the business and leave day-to-day operations to an outsourced controller.
Here are just some of the many benefits of working with a fractional or dedicated controller from Ravix Group:
- Reduction in Training Costs: It costs a lot of money to recruit, on board, train, and manage an internal controller. Outsourcing this function may cost a third of what it takes to find a quality full-time controller. Plus, you only pay for the hours and work needed, and you can sever the relationship without the hassles of terminating or laying off a full-time resource.
- Financial Expertise: We only hire industry experts with a successful history of leading startups and other businesses to financial success. We understand that the needs of your company will change as you move through different stages of growth. Working with our team, you can skip the expense of grooming internal resources for promotion and recruiting leaders that meet your current needs. Get the resources you need when you need them without concerning yourself with offboarding finance professionals who can no longer meet your business goals.
- Access to Financial Tools: When you outsource your controller functions, you immediately gain access to software otherwise outside your financial grasp. Advanced financial software improves key metric benchmarking, reporting, audit support, inventory tracking, job costing, and other vital functions.
- Fraud Protection: Third-party oversight can provide fresh eyes to catch loopholes and errors. Internal and external security breaches can cause businesses to shut down, but stringent supervision can prevent fraud.
- Fewer Distractions: Outsourced controllers aren’t wrapped up in office politics. They can even perform accounting and bookkeeping services offsite to avoid conflicts. Keep the focus on your business goals under the direction of a capable outsourced controller.
Why Choose Outsourced Controller Services from Ravix Group?
When you need immediate assistance with key accounting and financial functions, you may not have the time or budget to hire full-time internal resources. We provide an affordable option that can fast-track whatever you have planned for your startup or established business.
Contact us online or call us at 408-216-0656 to schedule a consultation today.