Why should tech companies outsource their CFO and other finance functions

Software as a Service (SaaS) and technology businesses require heavy investment and the ability to scale. Having an outsourced Chief Financial Officer (CFO) or finance function will help to properly support the metrics needed to present to potential investors, and once you get investment, your business can begin to scale.

“In the early days of a tech or any business, things can be unpredictable and unstable, which is why outsourcing your finance function can be the best option. Practical CFO can also support some of the most important aspects of running a tech business such as raising finance from investors, securing loans, accessing government grants, mergers and acquisitions, exit planning, and valuing your business.”

Outsourced Finance Functions

At Practical CFO (PCFO), we can help support your business’s financial needs and boost efficiency, with our collection of services including:

A CFO is important in any business to ensure effective financial management and planning. Outsourcing a CFO means that you’re able to focus on other important matters at hand, whilst being at ease knowing the financial aspects of your business are being handled by an expert.

Finance Directors monitor business performance, and are responsible for ensuring that the financial strategy is effectively implemented. An external Finance Director may offer a range of insights that you wouldn’t otherwise have without one.

With a Business Growth Advisor, your business is able to benefit from insights of your market and industry, and setting targets and goals. With this information, you will then be able to forecast your business growth and set plans in motion on how to get there.

Business Planning Consultants can offer you peace of mind when it comes to creating business plans, as they can produce this for you. They can help create a business plan to help your business grow exponentially, so that there’s no burden on your part in making time to create one.

Whilst each of these have their own separate roles and responsibilities, they are all equally important to the successful running of your business. Take advantage of PCFO’s specialised accounting services to ensure the continuity of your business.

If you’re a SaaS business, you’ll be dealing with multiple licence agreements, which means your revenue can change month by month depending on the agreement length. Keeping in control of your finances and managing your cash flow efficiently is extremely important, especially if you want to grow. PCFO can support and advise on how to get the basics right in terms of cash flow management and accurate forecasting.

As a SaaS business, you need to focus on your product development, obtaining investment and your customers – outsourcing your company finances will allow you and your team to do this. The PCFO team can help in preparing your story to investors, including building investment decks and accurate valuation modelling. Once you get investment, we can help show you how to use your investment in order to develop your product and nurture your customers.

In outsourcing your financial services for your tech business, you can save time and money from having to hire new resources and train them. The tech industry grows rapidly, and time becomes a valuable asset that your business cannot afford to waste. Outsourcing allows for flexibility, yet it comes with the assurance that your business will be provided with the best financial resources available, so there’s no need to worry about having to hire new talent.

Why Choose PCFO?

PCFO have extensive experience in helping SaaS / Tech businesses, including start-ups and SMEs, manage their finances, and provide them with support and tools to enable growth. We are experts in our field, helping your business set key performance indicators (KPIs) that can easily be monitored and achieved with our services.

Don’t just take our word for it, one of the tech companies we work for stated:

“PCFO have added valuable bandwidth to our team. As a small but fast-growing business, they have had helped own a range of accounting functions… they have proven adaptable to the needs of the business as we scale.”

If you’re interested in outsourcing financial services for your tech business, please do not hesitate to contact us.

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