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Outsourced Controller Services

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Controller Services That Help Your Business Grow

A controller is a vital part of the financial team for every business. They head up the accounting department and are responsible for supervising bookkeepers and accountants, producing month-end close reports and helping guide CEOs to make critical business decisions.

Businesses of all sizes can benefit from a controller. For smaller businesses, the role can complete critical tasks related to financial performance. For more established businesses, offloading controller duties can free up valuable time for a busy CFO or CEO.  This is why successful CFOs often seek outsourced controller services to allow them time for more important tasks related to financial performance.

Focused Energy utilizes business information to home in on strategies and tactics to reduce stress, improve profitability, and increase a business’ chances of success. There are many ways our controllers can work alongside a company's currently existing financial team.

What is a controller and what do they do?

A controller is the person in charge of the accounting department. They are the primary person responsible for all financial reporting, overseeing the accounting department to ensure all financial information is accurate and timely. Controllers manage the budget, supervise the accounting staff, and prepare financial reports. They often report directly to the business owner or leadership team.

Controllers have a wide range of responsibilities that require them to have an extensive knowledge of accounting practices, laws, ethics, and technology. Controllers must be familiar with both current Generally Accepted Accounting Principles (GAAP) and state laws governing their industry.

What to expect from a controller & common duties

Controller services include, but are not limited to:

  • Preparing financial statements and budgets.
  • Cash flow forecasting.
  • Preparing management reports.
  • Creating or enforcing accounting policies.
  • Providing advice on internal controls.
  • Providing advice on business operations.
  • Preparing and analyzing financial models.
  • Managing tax and treasury responsibilities.

Average controller salary and cost

In the United States, a controller's salary can range from $60,000 to $180,000. That's not surprising considering the variety of industries that use Controllers and the level of experience required for this position. The national average controller salary is $122,000.

Outsourced finance and accounting services cost less than a regular employee. You don’t have to cover their payroll, holiday work pay, vacation and sick leaves, travel allowance, health insurance, income tax, and other costs that regular employees are entitled to receive. There are no recruitment fees and annual increases to add to your overall costs. Nevertheless, you get the professional services of a finance consultant with experience.

Outsourcing your controller services benefits

Outsourced controller services may be the key to exponential business growth. In addition to clearing up leadership's busy schedule and allowing them to better focus on growth-oriented activities, outsourced controller services can help on multiple levels. Including:

  • Cost savings. You'll not only be reducing the cost of hiring a full-time in-house controller but also avoiding other expenses associated with that position, such as health insurance, payroll taxes, and employee retirement plans.
  • Reduce retention costs. The cost of hiring, training, and retaining full-time controllers add up quickly. Outsourced controllers typically cost one-third less than hiring and retaining an internal employee. Furthermore, it eliminates future training, software and hardware costs.
  • Flexible financial expertise. Outsourced controller services provide flexibility to choose from a wide variety of experience levels and industry exposure. Moreover, as needs can change, organizations can shift between multiple people specializing in different areas .
  • Increased efficiency. The controller you hire will be able to use technology to streamline internal processes and enhance reporting capabilities. This will help them not only improve the overall financial health of your company, but also free up time so they can focus on more strategic tasks. Outsourced controllers have more experience than those working inside an individual company; they have the expertise to improve business practices at many organizations and the time to do so since they aren't bogged down by daily operational tasks.

Learn more about the benefits of a fractional finance team

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