How will a Finance Director save me money?
Using a finance director, as opposed to employing a full time accountant, may be an ideal way for you to save money in your business. Finance directors can be employed on a interim or part time basis and offer business and strategic advice. They can also help you prepare a business for sale or advise on succession planning.
A company may have been in existence for a number of years and have, say, a bookkeeper and a tax accountant, but they may not have considered the value of having a specialist to analyse such areas as business systems, pricing, contracts, business plans, risk analysis. These are all successful areas of expertise for Financial Growth Solutions.
Some companies may have unnecessarily complex systems, we look at streamlining their structure and focus on saving money. So, for example, if we save a client an amount of money in year, that saving will, more often than not, apply over many years to come, so accumulating the savings.
One Manchester based client had a chartered accountant preparing their accounts, paid a substantial amount in tax, but they had never evaluated their systems or evaluated the capabilities of their accounts support staff. When Financial Growth Solutions took over, the result was an overall saving of £80k in costs in the first year, and every year thereafter, the accountant left and was replaced by the team that were effectively being held back.
The advantages of finance director outsourcing are clear: advice as and when you need it, you only pay for what you need, accounting expertise, without high fees or employment contracts, for example the cost per day is approximately half that of the typical charges levied by a partner in general practice. It will also deliver time savings for your business, give you new perspectives on your business as well as acting as a sounding board for your management team.