We are receiving increasing interest from clients in respect of providing them with a holistic outsourced finance director function. This service is often desirable to companies in the start-up phase who cannot justify salaries for full-time high level finance director roles but would benefit from expert strategic financial input. We have a number of clients who have already taken up our offering and the feedback has been highly positive.
Outsourced finance director flexible package
The primary offering for the outsourced finance director function is based around a flexible package with a dedicated Client Relationship Manager (CRM) and then access to the wider Prydis team at a discounted rate.
Outsourced finance director included services
Below is an overview of the services we can offer as part of the outsourced finance director, which includes:
- Monthly management accounts
- General bookkeeping services
- Payables management
- High-level financial advice
- Funding and business planning
- Attendance at board meetings where required
- Cash flow and forecasting
- Payroll and compliance
- Instituting robust controls and financial systems
- Assistance with raising finance
- Annual accounts and tax compliance
- Strategic and company structural planning
- VAT returns
- HR support
- Specialist tax services
- Credit control
- Other general support services
Outsourced Finance Director Key Benefits
Many of our clients who are currently benefitting from having the role of a finance director in their organisations, highlight these key benefits.
Alignment of financial functions
Cutting out the need for communication between your bookkeeper / accountant and various other third parties, leading to a reduction in overall fees.
You can trust that tasks are being dealt with by staff with the correct experience, by using Prydis to fill the role of finance director. Tasks can be effectively distributed between tax, accounting, and other specialists.
Reduce Risk of Staff Issues
A constant support system, no issues with holiday, ad-hoc leave or disruptions by changes in staff due to workflows being dealt with by a flexible team
The ability to support high level functions from specialists whose services would cost significant sums without the use of the package we provided.
Hourly charge out rates to ensure the fees being charged reflect the level of work being undertaken, as such you will never be paying for any idle time or wasted capacity.
We suggest our support is provided on a time spent basis as opposed to a monthly retainer. As such our input levels can fluctuate to meet you monthly requirements, limiting your exposure to fixed overhead costs through salaries. By outsourcing the finance function, various additional costs such as recruitment, training, pension contributions and bonuses are eliminated.
The ability to provide a complete support service for yourself in respect of your companies’ financial affairs.
As your business grows or ad-hoc demands arise, we have the scope to provide additional services to support your needs.
Not all business is conducted from 9 to 5, and we appreciate that our service must often go beyond the expectations of a general staff member to meet these requirements. The use of the Prydis team will provide a significant support team available to be flexible to your needs.
As accounting and finance specialists we have access to a number of software platforms which may be of assistance to your business. These software’s often come at a significant cost if purchased in isolation.
As an outsourced function you are not required to deal with sorting contracts, computers and other forms of hardware or a number of staff related matters. Our offering is designed to be presented as a packaged product presenting minimal complications for yourselves.
Our package is designed to allow your key management personal time to focus on the issues which support business development and in turn, reduce the financial administrative burden, whilst supporting you throughout the process.
Outsourced Finance Function
We work closely with our clients all year round as a trusted adviser and business partner. We take the time to fully understand our clients’ operations, their industry and the issues they face in order to provide them with relevant and value-added advice on an ongoing basis.
For many clients who do not necessarily desire, or require a finance director, we can act in a part-time role with the outsourced finance director function.