Finance Process Outsourcing
Most business owners started their business because they were good at something. Unless you are another accountant the thing you are good at is usually not accounting and finance. We offer an outsourced finance function that takes care of all the finance related aspects of your business. We deliver a service that:
- Instantly embeds financial expertise, knowledge and experience into your business
- Gives you access to industry leading accounting systems and processes
- Can offer significant cost control and cost reduction opportunities
- Provides the information and feedback that you need to run your business, how and when you want it
- Can be scaled with and how your business requires
How Does it Work?
Your business is unique in how it works and what has to happen on a day to day basis to make sure the finances are kept on top of. Our initial time working with you is spent learning about what your business needs from a finance function and putting together a bespoke solution to match.
What is an Outsourced Finance Function?
Various people, processes and systems working together make up a finance function. These different elements, and how they work together, are unique to each of the businesses we work with. All of our solutions are bespoke to the client.
Our book keepers are excellent at keeping the company books in order and the paperwork off your desk. We offer on-site and off-site services using any of the major accountancy packages available including cloud based systems developed internally. We also offer training too, and can work with, your current staff.
Our payroll services take care of all staffing and PAYE issues. We run payroll for single employee businesses up to multi department businesses.
We give you clarity on how your business is performing. We work with you to understand what aspects of your business are core to success and produce management information that gives you clarity around those areas. Our ethos with Management Accounts is that it is only useful if you can use it, so we strive to make sure the information you need is presented in the way you want.
If you feel like your current management information is not giving the full picture, we can identify what needs measuring and ensure our finance solution can accurately record and report this to you.
Budgets are one of the tools to translate your management strategy into tangibles that can be reported against. Budgets show where you are up to against sales targets ensuring you are not over spending. We prepare budgets that will:
- Communicate the business strategy to your staff
- Create accountability for results within the organisation
- Tack progress
Cashflow is the most important aspect of your business to manage on a day to day basis and it is vital you understand the immediate cash requirements. We prepare rolling cashflow forecasts that give you visibility and enable you to manage the bank account on a day to day basis.
Sales & Purchase Ledger Management
All businesses to varying degrees buy and sell products and services. We run sales and purchase ledgers to ensure invoices are raised, received and processed. Once the information is in the right place we can manage these ledgers by:
- Raising invoices and reconciling payments received using software based processes
- Ensure customers are paying when they should and manage outstanding balances in a professional and effective manner
- Manage cashflow cycles and plan supplier spending
- Review customer bases to identify the most profitable items and clients, understand the customer ledger make up and ensure the business is focusing on the right clients
- Regular supplier base reviews to identify and reduce supply chain risk, align supplier spend with favourable terms and
- Report on creditor and debtor positions
Business Orchard uses world class accounting systems, including platforms developed in house and in partnership with software providers. Many of our platforms are cloud hosted, giving you instant access to your accounting information, anywhere. Our systems are ISO/SAS 70 secure and with automatic backups you know your data is safe and secure at all times.
For businesses that carry stock, adequate stock control is key to ensuring you can service your customers’ needs and that your cash flow cycle runs smoothly. We can manage stock, run purchasing and deploy systems to track, measure and report on your stock movement and positions.
Almost all business will utilise some form of finance on a day to day basis. Do you know if the finance facility you are currently using is the best for your business? We have experience with all forms of finance and operate facilities for many of our clients, including invoice finance facilities. We’ll work with your current funders or suggest and review alternatives that ensure the funding you receive best supports your business.
Talk to us
Finance Process Outsourcing is something bespoke to all businesses. We are passionate about delivering FPO services and would be delighted to learn about your business and talk through how we can benefit you. Contact us to learn about what we can deliver for you