Outsourcing Professionals: YRH Finance Team
The finance function of a £1m-£3m turnover business looks very different from that of a £3m-£6m, or even a £6-10m business, in terms of the amount of input work required and the systems and information needed, as well as the forecasting, budgeting, analysis, risk levels, and pricing and management structure.
The key to getting the right balance for your specific business needs, is being able to access the right skills, at the right time and for the right price, whilst accessing a blueprint for success.
But it’s all just accounts – isn’t it?
No, not really; most SMEs will have some level of accounting support in place – whether that’s a local accountant or a bookkeeper. But the reality is, as your business grows, you’ll need to access a higher level of support and capability – an experienced finance professional who can work alongside your existing support to delve into what your numbers really mean and focus on providing the level of business intelligence that can help you make informed decisions, to increase profit and improve your cashflow.
As an SME, you may well be experiencing:
- A lack of visibility within the business – from performance to profitability.
- A fear of the unknown due to insufficient planning and forecasting.
- An inability to make well-informed, data-led decisions due to a lack of information.
- Worries about outdated and inefficient accounting processes.
- A feeling of dread when your bank, lender or business advisor asks to talk through your accounts.
If these scenarios sound familiar, it’s likely you’re already at the stage of needing to upgrade your finance function – usually through the addition of an experienced, commercially-minded Financial Controller, who can work alongside your existing accounting support, who speaks the same language and can give you all the clarity you need.
The good news? Most SMEs only need to access these skill sets on a part-time basis. And that’s where YRH can help you save money – and stress!
The power of insourcing
While outsourcing is a familiar concept to many organisations, we’ve seen an increasing number of SMEs embracing the power of insourcing – bringing in specialists who work alongside, and as an extension of, your existing team.
Insourcing allows you to reach out to acquire exactly the right balance of financial experience, expertise and best practice that your business needs. This agile solution helps you increase the capabilities within your company in a very flexible, affordable way – helping you reduce your cost base at a time when costs should be top of the agenda.
Insourced support from YRH isn’t simply about getting the day job done – we’ll also implement industry-leading best practice that supports and enables a brighter financial future for your business.