As a business executive, you know how challenging it can be to manage your company’s financials on top of your many day-to-day responsibilities. With an experienced Financial Controller on your side, you can shift this responsibility to an expert and reclaim your valuable time. When you outsource Financial Controller services for your organization, you can maximize financial performance and efficiency without overloading yourself.
At Compass East, we offer outsourced Financial Controller services using our full finance and accounting team. We create bottom-up financial solutions and strategies individualized to our clients’ needs.
Duties of a Financial Controller
A Financial Controller is an individual responsible for all of a business’s accounting-related operations, typically reporting to the company’s Chief Financial Officer (CFO) or Finance Director in the process. Controllers act as an organization’s lead accountant, overseeing all accounting functions by verifying that records are properly organized and reports are compliant with regulatory standards and legislation.
Financial Controller Responsibilities
Though their main job description is in accounting, Financial Controllers play a highly versatile role in companies across all industries. These professionals often collect, analyze and consolidate financial data to assist with a business’s budget preparation, financial reporting and payroll. Through a monthly Financial Controller review, they often identify financial deficiencies, summarize trends, and monitor budgeting and expenditure variance.
Ultimately, a Financial Controller’s goal is to provide organizations with the data needed to meet their financial objectives in light of the company’s current and future capabilities.
Other common Financial Controller duties include:
- Managing accounting operations: The primary services you’ll receive with a Financial Controller reviewing the accounting team include oversight of accounting services, such as accounts payable, accounts receivable, billing, cost accounting, general ledger, revenue recognition and inventory accounting.
- Maintaining systems and controls: Controllers often work to streamline internal accounting systems, software and internal controls for the most accurate and timely financial reporting.
- Preparing budgets: Through Financial Controller consulting, these high-level individuals direct and oversee budget and finance forecasting preparation and report any variances present.
- Creating and analyzing reports: Financial Controllers often create monthly and annual financial reports and analyze them to pinpoint relevant trends and forecasts. They also develop, manage and evaluate key performance indicators (KPIs) to gain valuable business insights.
- Maintaining compliance: With Financial Controller services, you can feel confident that your business’s financial reporting complies with all federal regulations and statutory laws.
- Managing financial transactions: Controllers enforce accurate documentation by ensuring that all financial transactions are recorded, filed and reported properly.
- Overseeing cash flow management: Another standard Financial Controller responsibility is supervising cash flow management to ensure that all incoming and outgoing funds are tracked accurately. This information can reveal insights about accounting issues, trends and forecasts.
- Assisting with audits: Financial Controllers often manage audit preparations to determine a company’s financial position and value while helping to compile the proper paperwork before an audit.
- Contributing to financial strategies: When you book Controller services, they’ll contribute to your company’s decision-making processes and financial strategy generation.
Our Financial Controller Services
Implementing a Financial Controller in your financial operation is critical in maintaining accuracy and efficiency. Hiring a Controller in-house, however, is ultimately the less practical and more expensive option, as you’ll have to compensate them with an annual salary and benefits. That’s why we offer outsourced Financial Controller services that let our clients benefit from the extensive knowledge and experience of a Controller without paying for one full time.
When you schedule Financial Controller consulting services with us, you’ll gain access to a team of highly qualified accountants who have the expertise needed to perform the Financial Controller duties that most benefit your company. You can expect us to expertly manage your accounting solutions while developing tailored financial strategies, budgets and projections for your business.
Some of our common Financial Controller services include:
- Cash flow management
- Financial forecasting
- Accounting services
- Audit preparation and support
- Financial statements
- Processes and systems management
Benefits of Investing in Financial Controller Consulting
Booking outsourced Financial Controller services from Compass East means experiencing all of the following benefits for your organization:
- Cost-efficiency: The expenses associated with hiring a full-time Controller for your business are high, accounting for expensive salary packages, payroll taxes and benefits. When you outsource this position to an experienced finance and accounting team, you pay much lower costs without sacrificing expertise.
- Expert guidance: With a Financial Controller on your side, you can take advantage of their extensive industry experience, knowledge and skills, gaining expert insights, advice and services for your business.
- Access to advanced technology: Financial Controllers are well-versed in various financial technologies and have the resources needed to optimize your accounting processes.
- Increased efficiency: Outsourced Financial Controllers act as an objective second pair of eyes, enabling them to identify your company’s financial inefficiencies, improve upon them and optimize reporting accuracy and processes.
- Time management: Financial Controllers can drastically reduce financial workloads for your organization, leaving you more time to focus on running your business.
Why Choose Compass East for Financial Controller Services?
At Compass East, we assist high-growth companies by providing them with expert finance and accounting services. We help our clients create individualized financial growth strategies and improve their financial futures by building scalable solutions from the bottom up.
Our dependable finance and accounting team serves clients using our streamlined process and integrated approach. We start by organizing your company’s books and installing a technology ecosystem tailored to your needs. Our staff then reworks your finance and accounting workflows and develops a comprehensive understanding of your unique financial goals and challenges. Finally, we create a personalized financial strategy for your business that will benefit you in the long term.
When you choose our dedicated team for outsourced Financial Controller services, you can expect to receive cutting-edge assistance tailored to your company’s needs.