May 14, 2018

Outsource accounting functions, or hire a CFO/controller? Some things to consider

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Q: My business is growing. What are the advantages of outsourcing my high-level accounting function instead of hiring a CFO or controller?

Ace Advises: Here are seven reasons why outsourcing your high-level accounting function is a smart business move:

  • Reduce overhead costs and increase efficiencies: Instead of needing several employees to operate in-house accounting, outsourcing eliminates the need for extra salaries, benefits, training, office equipment, downtime and taxes.
  • Improve budgeting practices: Oversight from outside experts can help you identify financial problems before they occur, and ensure the financial visibility of your company.
  • Improve cash flows: Outsourcing can allow your business to take advantage of everyday accounting practices to help manage cash shortfalls.
  • Save time and get convenience: Let the experts take care of the accounting and free up your management team to tackle the duties in their job descriptions.
  • Receive sound advice: Outsourcing provides an opportunity to align with a professional who has experience with your type of business and has knowledge and expertise in every area of accounting.
  • Expand staffing flexibility: Your time and your management's time is better spent developing new business opportunities and strategies, than focusing on the accounting.
  • Get real-time access to your data: An outsourced company will likely have access to the latest technology, and can assist in making timely decisions and provide updated financial data.

As your business grows, it may make a huge difference in your success to explore outsourcing your high-level accounting functions, before you decide to hire an in-house controller or CFO.

Contact Dean Michaud at


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