Controllers can be hired as in-house resources or can be outsourced. The former comes with a price tag though. Speaking specifically of growing businesses, it is not manageable for a business in its growth stage to afford the services of a full-time controller. Here is where outsourced controllers come to let the small business take a sigh of relief- providing them an equally or even more experienced controller at a fraction of the cost of hiring a full-time resource. Outsourcing the controller function has become a new way small business owners can benefit by cutting costs and gaining a better resource.
See Also: Leveraging Outsourced Controller Services To Future-Fit Your Small Business
Lets delve into some more benefits you can enjoy by outsourcing the controlling services :
Shorter Hiring Process : When you hire an outsourced controller, you don't have to go through the daunting task of posting to job boards, filtering through resumes, or holding multiple interviews. Outsourcing controller services is fast, seamless, and gratifying.
Less Costly: As mentioned earlier, controllers don't come cheap. Hiring them means enormous salary and benefits, bonuses, and raises even if you may not need them full time. However, when you hire an outsourced controller, you're only paying for the work you need to be completed.
Seamless Replacement: Imagine its month-end close, and your controller falls sick or quits. The problem that you can land into in their absence in overseeing your bookkeeper's work and catching up with the controller's workload can be anybody's guess. Here's where an outsourced controller can give you a big-time relief. They can take over all the workload seamlessly, picking up from where your in-house controller left. And you can have the best resource back in place without going through the hassle of hiring and training the new resource.
Expertise on Demand; Your in-house controller may have multiple years of experience to brag about but may not have been trained enough to have a good understanding of the industry's best practices. Outsourced controllers are introduced to a set standard and receive regular training to stay abreast of the industry's latest happenings, trends, and regulations. They can provide the expert knowledge that will help your business grow and thrive.
Comprehensive Reporting: Besides a standard month-end close consisting typically of an income statement, balance sheet, and statement of cash flows, the outsourced controller services can serve you with more in-depth reporting.
Catching up on your overdue books
It happens when you fallen behind on your books especially during growth or transition. This is the time when you can have an outsourced controller come in on a project-basis to help your books get back on track.
Outsourced controller services can help you grow and thrive.They can add great value to your growing business. From managing your financials to exercising strict internal controls and to providing you insightful, timely, updated and data-driven information alongwith the needed guidance, the outsourced controller services will have you covered.
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