You’ve grown your business and you’re at the stage where you feel you need an in-house accountant or bookkeeper. Before you pop the advert out and get an influx of CVs, there is another way. And it could save you an average of 50% of the cost of someone in-house.
Before You Think You Need An Accountant In-House
Before you start thinking you need an in-house accountant or bookkeeper, there is another way which might cost less, be better for your business and bring a wealth of expertise to your business growth plans.
Many businesses get to this point. They’ve grown so much that in-house help with payroll, bookkeeping AND strategic growth plans for that big-picture planning seems like a dream you can’t afford.
What if I were to tell you that you COULD afford a high-level chartered accountant and possible bookkeeping team that would cost you around 50% less than your average part-qualified accountant?
Before you think you can stick with your external accountant and get the office administrator to help with the day to day tasks, please stop.
Many businesses take this path and what tends to happen is you, the business owner, have to spend a LOT of time with your administrator and external accountant getting them up to speed but it’s disjointed, takes a lot of time and you can struggle to get appointments that match up with your schedule. You will often become the middle man as you will still be the person that passes information back and forth between your team and your accountant. The key issue with this external way of working is that your external accountant never really gets to find out about your business and how it really works.
You also might also for like shelling out for a mid-level accountant who lacks the skills and expertise to help you with the important decisions around proactive strategic planning. So then what happens? You spend more money on consultants or business coaches to help you with that big picture scaling up thinking.
Again, this is a potentially costly exercise and while you get the amazing strategic advice, you’re still in the quagmire of having to do the payroll and admin yourself or guide your administrator or bookkeeper to do so. You’re still stuck in the day to day admin and managing the communication between the different parties involved.
The Alternative to Hiring In-House
What can you do instead?
You can outsource all of this to a one-stop multi-layered finance team who work virtually (and possibly in-person) who cover the admin, cashflow forecasting, payroll, tax, strategic planning and accountancy advice.
Where does this magical unicorn team live, I hear you ask? They sound like the stuff of dreams!
Well, your dreams are about to come true because that is EXACTLY what we do at Insight Finance Solutions.
We are able to work smart, proactively and efficiently with you and your business to give you all of that for the cost of around 50% less than hiring a part qualified accountant in-house.
Instructing a Virtual Finance Department – The Benefits
Here’s why it is an AWESOME choice for many businesses:
- You get access to a high-level chartered accountant, bookkeeper and accountancy team who will take care of everything for you. It’s a truckload of experience between us, I can tell you!
- You get an experienced team who are well-versed in running virtual finance departments. We bring the widest breadth of experience INCLUDING bonus money mindset coaching which is rather unusual for an accountant but so important for getting past those personal money blocks and grow your business to the next level.
- It costs a lot less and is better value for your business in terms of time, money, energy expended and return on investment. You will not have to worry about hidden costs of employment like holiday and sick pay and the cost of initial recruitment.
At Insight Finance Solutions, this is what we do for our clients. We act as a virtual finance department and take care of everything for you. We do things differently at Insight Finance Solutions and we believe this is the future of modern accountancy. It allows flexibility all round, efficiency and access to the highest level of expertise for the lowest cost.
We believe in truly being a part of your business and even though we do work remotely, you will feel like we are part of the team as we help you to make those important business finance decisions, scale-up and feel confident in your business finances.
If you are ready to scale-up your finance department and embrace this new contemporary way of working, get in touch and let’s chat about how we can help take your business to the next level.