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Article, Finance, Finance and Accounting, SMEs

How outsourcing F&A can help high growth tech companies thrive

Targeting growth is a priority for any small and medium sized enterprise (SME) in the tech space, whether it is through bringing in new business or streamlining existing systems to improve cashflow – expansion means evolution.

But, as a tech firm strives to scale, build its customer bases and operate more efficiently, managing finance and accounting processes can become a mammoth task.

Those old cheques and balances

 While finance and accounting has come a long way since ledger and hard-copy balance sheets, effective interpretation of data and staving off information overload remains key. Understanding a business’ finances allows its leaders to diagnose issues quickly and adapt new strategies for growth.

At a time when stakeholders are putting greater and greater pressure on businesses to reduce costs or do more with less resources, financial transparency through technology can also be invaluable.

As part of our Management Accounts offering – our modular management accounts software platform – we ensure clarity as the first step in our service roadmap, giving you a clear picture of what your money is doing, and where it’s going month by month.

The platform provides an immediate lay of the land, so businesses can work quickly to forecast coming changes and consolidate differences between individual accounts all via one in-house service.

Modularity matters

Every business is different. But this is particularly true for SMEs, who can grow and change rapidly. This means that scalability should be a key attribute in any new systems they implement.

Financing and accounting, as a broad and essential part of a business, must seek greater options for adaptability than most to ensure that, as a business and it’s needs grow, extra solutions can be implemented to steer through initial teething problems.

Management Accounts can help you manage all your finance and accounting process in one place. This includes credit management, accounts payable, invoice processing and payroll, but also specialist guidance on HR, legal and occupational health. The solution is fully modular, meaning you can choose the applications on the platform based on your needs for a single monthly fee and no upfront capital investment.

Our adaptive technology also means businesses can feel proactive in their approach to shifting regulatory requirements, as our extensive solutions provision keeps firms covered, whatever the change may be.

Why change now?

Tech SMEs have always been some of the quickest to move with the times and recognise when a change can really mean a difference. This is something that business leaders from every sector are now waking up to.

Shifting to financial automation brings with it not only the knowledge that you’ve brought your business one step further towards contemporary methods of operation, but also the knowledge that you’re likely to save as much as 20% on cost compared to your existing finance and accounting department spend.

Beyond that, by automating the finance function, you guarantee your business far easier dealings than ever before. Automation means greater efficiency for businesses, being able to consolidate between multiple finance platforms such as Xero or Sage, while reducing risk and enabling the opportunity for faster growth that you can see in real time.

Follow this link to find out more about the future of automation and how our Finance and Accounting services can make the world of difference to the way you manage your business’ finances.

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