Any company with goals to scale is, by definition, aiming to grow — typically at a very fast pace. However, as you bring in more revenue to outpace the rate of costs, your company may encounter new business, accounting, and financial challenges that your team is not prepared to address.
You may lack the appropriate processes, resources, talent, or technology to support the new business need and address complex situations that are beyond current capabilities.
For example, you may arrive at the point where your company is asked to show financial reporting or accounting controls in a way that your company was not expecting or isn’t prepared to provide. This often happens when you are seeking new relationships with potential new investors, banks, or even key leaders in the organization.
Fortunately, there is an opportunity to outsource many of these key business processes to fill gaps or address a current need as you grow. Until your company has the internal resources to combine new processes with the best technology, Finlyte can support the need for better details in a timely and cost-effective way.
Finlyte Delivers Value Through Outsourced Accounting and Business Processes
What we typically see from scaling companies is that there is a tipping point where the company moves beyond a theoretical phase of growth into full-on expansion. Now you are bringing in exponentially more revenue, expanding internal teams, moving into new markets, adding multiple locations, and creating more business lines.
The expansion — and the focus that it requires — means there is less time to devote to essential business operations. You’re no longer playing the “addition” game. Now, it’s multiplication, creating a tremendous need for business process efficiency, enhanced internal controls, and financial management. And, you are unlikely to be able to hire or add resources fast enough to keep up.
This is where our accounting and finance teams can help bridge the gap. We deliver value to scaling companies by handling these types of accounting processes:
- General ledger management
- Accounts payable and receivable processing
- Bank reconciliations
- Credit card and expense management
- Ownership of the overall “month-end close”
Fortunately, we have the technology resources to support these accounting processes at the speed you need.
Technology To Support Business Process Outsourcing
A key challenge that scaling companies encounter is not having the ideal technology resources to keep up with their new operating reality. Perhaps your organization started with a basic accounting platform, disconnected operating platforms, and other disparate software solutions.
Now, you need to bring together multiple teams, business units, and operational processes in one place. We can help solve that. We utilize best-in-class Oracle + NetSuite ERP to manage core business processes and accounting processes in a single, fully-integrated system.
Oracle NetSuite delivers the highest level of flexibility and scalability for dynamic growth so that your organization can take advantage of changes in your business environment. For example, a high rate of growth means seeing financial data segmented in ways that your organization has not seen before. Now, through our partnership with Oracle NetSuite, we can help you gain unprecedented visibility into financials.
Scalable Outsourced Business Processes We Offer
The added bonus for your organization is that we tailor our outsourced business services to fit your unique needs. We always work with clients on an individual basis to deliver the right-size solution. Consider your options.
1. Core Services for Scaling Companies. If you’re looking to bolster or replace the functionality of a skilled staff accountant, our Core service is a great place to start. Our team can replace all or part of your organization’s tactical accounting responsibilities while you focus on growth or look to add more employees to your team.
Core is best-suited for companies that require a deeper level of financial expertise with higher transaction volumes and more complex accounting needs. We provide a full array of transaction processing and controller-level services. It’s still a best practice to remain in close coordination with your organization’s CPA and tax advisor to ensure proper compliance and tax planning. Our offering is a great alternative to standing up your own internal finance and accounting teams.
2. Complete Services for Emerging Growth Companies & Start-Ups. Perhaps your organization has moved beyond tactical accounting needs. Now, you need to work on process improvement, controllership, and executive review of the financial impact of major decisions to attract new investors. In this case, our complete tier of services could be a good fit.
We can also combine the services of our Core offering with dedicated controller-level resources as well as CFO-level review. That means that your new VC or PE investors can find a go-to resource to break down financials in a way they’ll understand and appreciate to support decision-making.
Contact Finlyte To Get Started with Business Process Outsourcing
Whether you need our services a little or a lot during rapid growth, we will meet you where you are and help you get to where you want to go. Powered by Oracle + NetSuite, our services are:
- Balanced and appropriate for current needs.
- Flexible for future growth and changes to your business.
- Scalable for further expansion and added complexity.
- Easily transferable to an internal staffing model as warranted.
We encourage you to reach out to our team to find expert support with business, accounting, and financial processes for your scaling company. Contact us today to schedule a consultation.
