Why is having a complete financial team important for the core business?

 Why is having a complete financial team important for the core business?

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If we asked you what the secret to success is, would you know the answer? Would it control expenses and reduce operating costs ? Build customer loyalty? Offer a differentiated product/service? Or direct investments more strategically?

In fact, all of these questions influence success. But there are two other important factors that are important for the company to achieve good results: having a complete financial team to take care of the administrative back office , and ensuring time and availability for the core business .

Do you have the time and availability to take care of the core business of your tech company? Do you know what financial outsourcing is and how it can help? If the answer is no, get ready because today’s article was written especially for you!

Importance of time and availability for the core business

A manager’s main responsibility is to ensure that the company is successful . To do this, you need to align all strategies, understand what the strengths and weaknesses are, and have knowledge of what differentiates your business from the competition.

The point is that to be able to align strategies you need time and availability to study the market. And, within a technology company, the manager does not always have the necessary flexibility to focus on the core business .

This is because day-to-day life within a tech company can be hectic and full of routine tasks such as evaluating projects, managing tasks, coordinating and supervising teams and taking care of finances. Anyway, it’s a lot!

Therefore, any manager can end up “misinterpreting” and failing to focus on what really matters. Which, in this case, is gaining a more strategic perspective to effectively manage the business, direct the company and pursue new opportunities .

How to guarantee time to take care of the company’s core business

Now that you know how important time is for your core business , you may be thinking: “How can I guarantee more availability to manage my business? ”

The answer to this question is quite simple: just transfer responsibility to a team to take care of the financial back office .

When you have a complete financial team to solve your company’s routine problems, you have more time and availability to focus on management and decision-making. Not only that, you get more flexibility to look for new business opportunities.

It is clear that the team that will be responsible for taking care of your tech company’s financial back office needs to include only reliable, experienced and committed professionals. After all, they will be your right-hand man and will be in charge of carrying out tasks, identifying problems and seeking solutions.

Have reliable professionals committed to your business

Ok, you understand that having time and availability to take care of your core business is important, and that to guarantee this time you need to have a reliable, experienced and committed team to take care of your company’s routine problems.

The concern now is the following: how to find a complete financial team with all these qualities, without making new hires?

When we talk about financial back office , we are referring to tasks linked to account management, accounting , cash flow and cost control. And professionals who work in these roles generally need to have technical knowledge and mastery of the subject.

Therefore, whether you like it or not, you need to have a team to take care of these matters. Otherwise, it may be difficult for you to feel confident in sharing responsibilities.

Until recently, companies needed to set up an internal team to take care of the financial back office . And let’s face it, that could be quite expensive. But now there is a very simple solution capable of providing a quality financial service at a low cost.

Don’t know what this solution is? It’s financial outsourcing !

Financial outsourcing: what is it and how can it help you in your core business ?

Have you ever thought about having a complete financial team , without the need to create employment relationships? Well, that is exactly what financial outsourcing proposes to the entrepreneur.

Financial outsourcing is a practice that aims to delegate all tasks in the finance sector to a service provider. In other words, the execution of activities such as controlling accounts payable and receivable, contract management, sending invoices, bank reconciliation, preparing financial reports and accounting statements, for example, are the responsibility of an outsourced team.

This means that there is more time for you to focus on managing your business, and also more availability to pursue new opportunities. The benefits of financial outsourcing are numerous, but below we will mention just the main ones:

• Focus on business: as you don’t have to worry about routine tasks, you can direct your attention and maintain focus on management;
• Cost reduction: your tech company can reduce monthly labor costs and severance pay;
• Higher quality of information: the quality of information increases because the work is carried out by experienced professionals;
• Digital transformation: your company now has the best technological tools on the market
• More assertive decision-making: based on the reports and with the help of the accountant, you can draw up strategies and make more assertive decisions.