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How Initor Global helps businesses outsource financial services

10th May 2024
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Initor Global UK provides premium outsourced services to UK accountants and businesses.

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Using an individual or a team based offshore to deliver financial services offers many benefits to small businesses struggling to access the expertise needed to manage their financial operations. With an outsourced finance team, small business owners can confidently access the services they need without incurring the costs of a full-time accountant or finance professional.

When resources are scarce, using an offshore team of professionals can deliver the full range of financial services a business needs at any stage of its life cycle.

What are the benefits of an outsourced Finance Team?

Engaging an outsourced finance professional ensures a business has access to the skills and experience needed to provide effective financial services. The terms of engagement with an outsource supplier are flexible and will cover only the required financial services.

Many start-up businesses don’t need a full-time finance professional as they seek to establish themselves and require only periodic support at month or quarter end to prepare financial information, management accounts, or VAT returns. This may only amount to a few hours per month using a bookkeeper, accountant or tax professional engaged on an ad-hoc basis.

An outsourced resource helps small business owners focus on what they do best, safe in the knowledge finances are under control and that all legal obligations are met to regulators such as HMRC and Companies House, as well as any shareholders in a company.

The best outsourced professionals will help challenge business performance, highlighting when and where more investment is needed, or which products, services or clients are not as profitable as they should be. Using an experienced outsourced finance professional to inform key decisions can help deliver strategies for growth and profitability.

Which financial services can a small business outsource?

Most financial services can be outsourced, though owners will need to think carefully about when those services are most needed. If a finance team is struggling to deliver any financial service, or if a business is looking to meet obligations without hiring direct employees, then an outsourced finance team can be an effective solution.

What else can an outsourced Finance Team help with?

Once your outsourced finance team gets to know your business, you will have access to professional insight and advice to help:

  • prepare effective financial forecasts
  • manage cash flow
  • develop and implement business plans
  • find opportunities for growth and improved profitability
  • ensure compliance with regulatory requirements.

How much does outsourcing cost?

Typically, the cost of outsourcing financial services is about 50% less than the equivalent UK resource. The direct costs of employment and the risk of employing the wrong individual for a business are avoided completely.

Working in partnership

Initor Global understands the outsourcing of finance and accounting services is a major decision for any business. We work with businesses every step of the way to ensure systems and processes are fit for purpose to manage the enhanced workflows and automation businesses will enjoy. We get to know our customers’ plans for growth and have helped many UK businesses scale their operations quickly.

Want to find out more?

UK businesses are increasingly using outsourced services to do more than reduce costs. Outsourced services are used to add value to the business, increase flexibility and deliver growth. Any business looking to grow sustainably should consider how outsourcing can help.

If you are a business owner looking to outsource financial services, increase margins and help your client’s thrive, you can book a video call with one of Initor Global’s expert advisors using this link or send an email to [email protected]