Why Outsource Your Back Office?
In many startup and emerging businesses, Accounting, Finance, and HR processes are not handled very efficiently. There are several common mistakes in managing the company’s back office needs:
“Under-Kill” – Resources are tight. Founders and early employees are 100% dedicated to their product and customers. Maintaining accounting records, forecasting cash, and basic HR needs become delayed or ignored.
“Over-kill” – The company hires a full-time CFO too early. Much of the CFO’s time becomes occupied by tasks that can be performed by a more cost efficient resource such as a Bookkeeper or Staff Accountant.
“DIY” - The Founder, the brains behind the business, is incredibly organized and performs all of the accounting, finance and HR needs. The problem: The Founder’s time is valuable and better spent focused on marketing, selling, and building products and services.
“Over the Fence” – At the end of the month, accounting data is sent to the Company’s CPA. A few days or weeks later, basic accounting reports are sent back. Fast paced start-ups and emerging businesses need constant customized information and metrics, not just basic historical reports.
We Can Help
Efficiency is our goal. We customize our solutions to make them affordable to early startups and cost beneficial to mature businesses. Our hands-on experience building, managing, and performing Back Office Processes across several industries has helped us create our system of Best Practices. Here are many of the functions we perform for our clients:
|Accounts Payable||Financial Reporting||Benefits Administration|
|Credit and Collections||Financial Analysis||Compensation Analysis|
|Revenue Recognition||Cash Forecasting||Terminations|
|Sales Commissions||Cap Table Management||Employee Handbooks|
|General Ledger||Stock Option Plan Management||Staff Development|