Using an individual, or a team based offshore to deliver financial services offers many benefits to small businesses struggling to access the expertise needed to manage their financial operations. With an outsourced finance team, small business owners can confidently access the services they need without incurring the costs of a full-time accountant or finance professional.

At Initor Global, we have been helping businesses deliver effective financial services since 2006. We pride ourselves on finding the right solution for any size of business, from start-ups to larger organisations.

What is an outsourced Finance Team?

Most small companies or start-up businesses don’t have the resources or expertise to meet all the obligations required of a company director or owner. However, they do require expertise to meet their legal responsibilities, from filing company information and accounts, meeting tax liabilities or fulfilling reporting requirements to shareholders.

When resources are scarce, using an offshore team of professionals can deliver the full range of financial services a business needs at any stage of its life cycle. At Initor Global we offer finance professionals to meet all business needs, working from a few hours per month to full-time professionals.

What are the benefits of an outsourced Finance Team?

Engaging an outsourced finance professional avoids the cost of hiring expensive employees on terms covering only those services a business requires. Many start-up businesses don’t need a full-time finance professional as they establish themselves and require only periodic support at month or quarter end to prepare financial reports, management accounts, or VAT returns. This may amount to a few hours per month using a bookkeeper, accountant or tax professional engaged on an ad-hoc basis.

The outsourced professional will use the skills and experience they have built up over many years to help small business owners focus on what they do best, safe in the knowledge finances are under control and that all legal obligations are met.

The best outsourced professionals will help challenge business finances, highlighting when and where more investment is needed, or which products, services or clients are not as profitable as they should be. Using an experienced outsourced finance professional to inform key decisions can help a business deliver its strategies for growth and profitability.

Which financial services can a small business outsource?

Most financial services can be outsourced, though owners will need to think carefully about when those services are most needed. At Initor Global we help small businesses with the following services:

Accounts payable Payroll and Pensions
Accounts receivable Budget Management and Forecasting
Purchasing Secretarial Services
Credit Control Statutory Accounts and Audit
Bookkeeping Treasury Management
Fixed Asset Register Trial Balance and Balance Sheet Preparation
Management Accounts VAT Services

If your finance team is struggling to deliver any of the above services, or if you are looking to meet these obligations without hiring direct employees, then an outsourced finance team is the best solution.

What else can an outsourced Finance Team help with?

Once your outsourced finance team gets to know your business, you will have access to professional insight and advice to help:

  • prepare effective financial forecasts
  • manage cash flow effectively
  • develop and implement business plans
  • find more opportunities for growth and improved profitability
  • ensure compliance with regulatory requirements.

How much does outsourcing cost?

Typically, the cost of outsourcing financial services is about 50% less than the equivalent UK resource. The direct costs of employment and the risk of employing the wrong individual for your business are avoided completely.

Working in partnership

Initor Global understands the outsourcing of finance and accounting services is a major decision for any business. We work with businesses every step of the way to ensure systems and processes are fit for purpose to manage the enhanced workflows and automation businesses will enjoy. Businesses have a named Initor Global operational manager, who will stay in regular contact to highlight any matters arising from our work.

We use secure cloud-based technology to ensure our working papers and supporting documentation are available for your review. While we take pride in the approach we have developed, if you prefer, we can use the document management systems operated by your business to record our work.

We get to know our customers’ plans for growth and have helped many UK businesses to scale up their finance and accounting operations quickly, ensuring constant access to resources you can rely on.

GDPR and Data Protection

Initor Global is GDPR and ISO27001 compliant, providing the peace of mind you need that your data is always secure.

Our teams have experience and are certified in all major cloud-based finance and accounting software, and financial systems, which we access from our own secure servers. If you prefer, we can access your business server using secure remote login arrangements.

Want to find out more?

UK businesses are increasingly using outsourced services to do more than reduce costs. Outsourced services are used to add value to the business, increase flexibility and deliver growth. Any business looking to grow sustainably should consider how outsourcing can help.

You can find out more about all of the services we provide to businesses on our dedicated website pages.

If you are a business owner looking to outsource financial services, increase margins and help your client’s thrive, you can book a video call with one of Initor Global’s expert advisors using this link or send an email to [email protected].

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