FINANCE FUNCTION OUTSOURCING

After all of the turmoil over the last few years, now is the perfect time to review how your business operates and the benefits of outsourcing your finance function.

SAVING YOU & YOUR BUSINESS TIME & MONEY

The finance function is not only one of the most important parts of any business, it can also be one of the most expensive. By outsourcing this to a specialist firm like ourselves not only will you save money, you’ll also get access to a team of industry experts, meaning you can scale up or down with ease.

Alongside the benefits and improvements it can bring to your business, you’ll also have access to real-time, relevant financial information that helps you to fully understand where the business is and how you are performing. We do this by using an innovative ‘shared services’ business model that only larger companies have recently developed, we’re able to provide a wealth of information through accounting services for mid-sized and small-cap companies. This can not only bring a cost reduction of up to 40%, but means your key team members are freed from manual tasks and can maximise their value to the business.

To give you an idea of how we can help, we’ve created a typical company structure below. We are able to take responsibility for any of the roles shown in grey.

5 Reasons To Outsource Your Finance Function

When your finance function is executed in-house, it often receives less attention than other departments. After all, creating revenue must be the primary focus of any business. However, when you outsource your finance department, your finances are handled by a finance and accounting services company that gives it an utmost priority.

Here are 5 reasons you should be looking at outsourcing some of the processes:

Saving Time

Accounting and bookkeeping tasks are extremely time-consuming, especially to do them properly. By outsourcing to us not only will you have more time to concentrate on other areas of your business, but we can automate your manual and tedious processes which will save you time and provide you with more detailed, effective reporting.

Reduce Errors & Fraud

Reconciliation of financial statements is a complex task, but one that is essential in order to detect any fraud or errors. By outsourcing this to ourselves, you can rest assured that we'll be on top of everything and will highlight any potential issues to you before they become too serious.

Scale Quicker At A Lower Cost

Not only will outsourcing your finance function save you money now, but when the time comes to scale your business you can do it with ease and at a fraction of the cost compared to recruiting internally. Not only that but if you're only looking to scale temporarily, we can help with this as you get access to our whole team, whenever you need them.

Access To Special Expertise

Our team is made up of industry-leading experts, covering all different areas of your finance function. When outsourcing, you get access to these individuals at a fraction of the cost compared to recruiting internally. On top of this, you also get access to the latest technology and software all as part of the package.

Fewer Staffing Issues

When outsourcing your finance function, the issues you may have encountered previously with your in-house team will no longer be a problem. For example, sick leave, holidays, staff benefits, maternity leave, pensions and contributions to national insurance are all covered at our end within the cost. Plus, because you get access to our whole team, if we have a team member on holiday or sick, your work will be allocated to another team member.

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“We started using SKS as an outsourced Finance function early in 2017. The transition was remarkably smooth and, through the dedicated team, we are now receiving accurate reports on time. This is on top of cost savings and fewer operational headaches.”

Vivek Singh, Executive Director, Award Apparel Ltd

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