Outsourced Financial Director
Did you know that you can outsource your financial director? Hammersmith Chartered Accountants loves to think outside the traditional trends. Indeed, you can trust us, particularly when you do not have a dedicated financial director to manage the financial side of your ventures. Our experienced experts will move behind the figures and give you salient advice as needed. Feel free to try out our service that has worked for many thriving firms. It is one of the ways you will create time and space to focus on the growth side of your business.
The element of finance is an important pinnacle in the growth of any business. Both small and medium-sized businesses need financial support. However, such entities are rarely, sufficiently; stable to hire the services of a full-time financial director. Thanks to the modern-day developments in the business niche, it is possible to outsource such service at a limited fee. Hammersmith Chartered Accountants has a reservoir of financial experts you can reach out to, and deal with your day to day finance-related issues. The great thing about outsourcing a financial director from us is that the pricing of the services you receive will be tailored according to the size of your business, and your business capacity to facilitate our experts. We engage you to find a lasting solution to your financial management needs. In other words, our budget always fits the size and budget of your venture.
Time to Plan
One critical aspect of any business, including start-ups and ongoing ventures, is the element of finding avenues for growth. Any business that perpetually gropes in the dark and has no clear plan of how it will look like in the days to come is a business preparing to sink into oblivion. Therefore, outsourcing of services such as financial advising helps the business owners to reflect on their business and study the trends for purposes of growth. Indeed, most small and medium-sized businesses are often run by the proprietors. Yet, proprietorship entails a bigger responsibility of charting out the future of a business. We, at Hammersmith Chartered Accountants, are fully aware that it is a tricky situation to manage your own business, including managing issues of finance and still find time to be creative. Furthermore, our financial director service aims at focusing the limited resources you have, on what truly adds value. We are handy in helping you make critical decisions that would otherwise cost you lots of time. Our financial director will sit with you through the important management meetings, and guide you on the grey points of your discussions. We will help you generate the all-important management reports that stakeholders use to make key decisions.
As a company that provides outsourcing financial services and others, we are cognisant of the fact that you will reach a point when your business will stand on its own feet. Therefore, we prepare you for such independence. In particular, we bring you up to speed on what to expect from a hired in-house financial director. We walk you through the pitfalls just so you understand the full picture of your future activities. In fact, with your input and consent, we move in to help you select the best finance manager for your enterprise. We shall be there in the process of the interview and make sure that you start on a comfortable footing. Some of the areas that we, particularly take a keener interest in include
- Book Keeper recruitment
- Preparation of management accounts
- Planning of cash flow and budgeting
- Hands on running of board meetings
- Human resource management including remuneration packaging
Understanding the Financial Director Role
Before you jump into the deep end of outsourcing a financial advisor, it is important that you fully grasp the role of such an officer and how their input affects your business. Primarily, the role of a financial director can be split into three basic categories. A financial officer is responsible for reporting the state of finances of a business firm including managing risk. They are expected to plan and ensure that operations are efficient and to make sure that they plan strategically.
Managing Risk and Financial Reporting
Financial directors are expected to protect the most important assets of a business organization. They do it by evaluating financial risks involved after analysing all the tenets that influence financial flows. It is the financial director that is expected to oversee the capital design of the organization to estimate the highest level of debt that the company can incur. They also determine the level of internal financing needed, and the optimal equity for the successful running of the company and to achieve the financial objectives.
Efficiency in Operations
The Financial director must keep tabs on all the operations of the company to make sure that they monitor the efficiency in all the departments. Such a director must seek to maximize the overheads that accrue from the investment, including income generated from the assets of the company. Financial planning is the strategy and tool that financial directors use to achieve the aforementioned efficiencies. A financial director is an analyst, they budget with an aim to increase the revenue generated by the company. A financial director seeks to increase profit even as they put measures in place to reduce the costs to the minimum. Indeed; the mantra is that the company makes the most from the minimum they need to spend. They should reduce taxes where possible too. This role relies on the ability to analyse the key indicators of performance. It is also imperative that a financial director possesses a thorough knowledge of the business design of the organization. This understanding spreads further to grasping how the company systems affect the value of the clients in ways that can be measured.
The development of Strategy
The work of a financial director is to fit into the long term plan of the business. It is not for nothing that the Chief financial officers in many companies are quietly regarded as the second or third most powerful people in an organization after The CEO and the shareholders. Indeed, the financial director holds immense powers in as far as directing the company in a given direction is concerned. It goes without saying that if a company stands on the shaky financial ground, there will be little progress or even enthusiasm from the workers. The financial director is charged with the task of providing leadership and ensuring that both development and financial goals of the firm are achieved. The financial director decides what to fund and whether it is appropriate to fund it. They, of course, usually do it in consultation with the other stakeholders. However, the input of the owners and the other stakeholders is usually guidance. The actual financial director has the prerogative to tweak the proposals to the advantage of the company, under the prevailing financial environment.
Outsourcing a financial director from Hammersmith Chartered Accountants will ensure that you get a lot more profits than you would if you tried to do it yourself, or even hired a full time in-house financial officer. An outsourced director will allow you the time you need with your clients. You will then have a ground experience on how to improve the service you provide.
Simply put, once you hire a financial director from us you will begin to see new horizons. The burden of being a jack of all trade will be a thing of the past. Most importantly, you will see the cost of wages, taxes, and salaries decrease significantly because the work will be done by the best in the industry.
Going by the famous quote by the former US secretary of state, H. Kissinger, it is apparent that the true role of a leader is to move a people, from where they are to where they ought to be. Similarly, the role of a leader, being a business owner, in this case, is to find new avenues of growth and move the business to the next level. Hammersmith Chartered Accountants knows this fact all too well. We want to give you the chance to truly be the vision bearer you are for your business.