THE BENEFITS OF A VIRTUAL FINANCE DEPARTMENT

Alfie Brown

As an entrepreneur, it is vital to understand the financial performance of your business. Put simply, without the latest financial information, you will not be making informed decisions about your business, which is likely to create issues.

For many SME’s it doesn’t make economic sense to employ an internal accountant and/or bookkeeper, and those that do, often come across limitations with the skill set on offer. An increasingly popular solution involves outsourcing your Finance Department. This often means that for less than the cost of one full-time employee, a business can benefit from a Finance Director, Management Accountant, Bookkeeper and Payroll Technician.

The rapidly growing Sterling Accounting Solutions (SAS) Virtual Finance Team, is powered by the latest technology, meaning they can automate many of the time-consuming administrative tasks that so many businesses neglect. Implementing efficient processes, allows the team to focus their time and effort on providing clients with financial insights and support to achieve their business goals.

Will Sterling, SAS Managing Director, is well aware of the wide-ranging accountancy requirements for different businesses and has set about creating a suite of services that allows clients to choose exactly what is right for them. This flexibility gives company owners the confidence to focus on growing their business, knowing that the business finances will be in safe hands at every stage of the journey.

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Will explains, ‘In the six years that SAS has been in existence, we have seen clients successfully expand both in the UK and overseas. As a result of such growth, the services offered and level of financial experience required by certain clients has naturally increased. Our goal is to get all clients to the point that they require a Virtual Financial Director, as at that point you are talking about an established business.’

One area where SAS has been able to add value in recent times is in helping businesses prepare for a sale. For many entrepreneurs achieving an exit is the ultimate goal, and working closely with an experienced and strategic finance team to maximise value, is essential.

Will continues, ‘In the past, outsourcing accountancy services meant paying exorbitant fees for mediocre service, but with the expansion and relative affordability of cloud-based technology, this is no longer the case. With real-time information at our fingertips, there are no limitations to the level of advice on offer.’

If you would like to find out more about the benefits of our Virtual Finance Department, contact a member of Team SAS who would be happy to tell you more sas-accountants.com/contact.

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