So, you’ve had success in your business.  Profitability, as well as cash flow is good, which means your cash balances are building up.  As a good Owner, Manager, or Director, you’re certain that your business is in good health, because your Bookkeeper and/or small Accounts team tell you so.  This is also confirmed when you log-in to your Cloud Accounting software.

 

However, your Accounts team are only just managing to get your financial information to you; just before the next month’s information is due.  There’s too much to do, and whilst they’re working hard with good intentions, they’re only just keeping up.

 

As a savvy business person, you know that you should be re-investing the cash surpluses in your business – to grow, flourish, and become a bigger contributor to both internal and external stakeholders.  You have some ideas, or even some plans, of what you would like to do, but you need to assess whether they would be viable.

 

Other than the detailed financial information you need for your plans, you would also like to bounce your ideas off another person. 

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• Someone who is commercially aware, has experience of business operations, a strong network of contacts, as well as the necessary knowledge and insight into Accounting and Finance. 

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• Someone who can come in and give that second wind to your Finance / Accounting Team, and get the right processes in place so that they’re a happier bunch. 

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• Someone who would then give you that extra visibility of your financial information, and set-up systems to monitor Key Performance Indicators (KPIs) for both your current and planned operations.

 

Such a person would invariably be a Finance Director.  However, the typical salary for a Finance Director in the UK is £80,000 per annum.  That’s before the Employer’s National Insurance Contributions, Pension contributions, paid Annual Leave, and all the Human Resources related obligations.  Paying for such a senior position would, no doubt, help you achieve more of your plans, as well as helping to avoid related pitfalls.  However, the cost of such a person may well use-up any financial benefit from achieving your business plans.

 

This is where your business would really benefit from outsourcing to a Virtual Finance Director.  You can benefit from the same level of experience and support, for a fraction of the cost, and that would be a positive contribution to the profits from your business’ growth.

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DSV Accounting focuses on providing this Virtual FD service.  Why not get in touch, and see what we can do for you?

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