The risk of turnover is real for any company, but when you have a small business, losing someone who plays an integral role in operations can affect every aspect of your company—especially when those people manage your finances. That’s where having an outsourced controller comes in. They provide a safety net, ensuring your financial processes continue running smoothly even when key team members leave.
Let me explain further — you need people who can help you get paid, pay your vendors, and pay your employees. So whether the internal person who does this is your office manager, bookkeeper, or the person managing your accounts payable and receivable — and much of the information lives in their heads — losing them can put a huge wrench in your operations.
So, what happens when they leave? And how can you transition smoothly? Better yet, how can you avoid these problems altogether?
I’ve found that the answer lies in outsourcing at least a portion of your finances to an external team that manages continuity and transitions for you. Even if you still have an internal person handling the day-to-day, your outsourced accounting team can help you establish SOPs and ensure that one person isn’t the only person who can run things. What’s more, that team can also identify things that may have fallen through the cracks or been done incorrectly and take steps to avoid problems in the future.
In addition to supporting your bookkeeping and accounting, that team may be headed up by an outsourced controller or even an outsourced CFO who can offer strategic direction and support to help you reach your big-picture financial goals, manage team transitions effectively, and stay on top of what’s happening right now.
Outsourced Controllers as a Strategic Solution
I find that when someone essential to your financial operations leaves, it can feel like chaos is just around the corner. And truthfully, that’s when people come to me for help. And while not every company needs the level of oversight outsourced controllers offer, they do need more help than they realize.
Instead of scrambling to cover all the tasks your departing staff member was responsible for—and figure out what exactly to do — your team of financial experts manage the transition on your behalf.
Our outsourced controller services offer long-term stability because, in addition to maintaining and improving your financial processes, we provide peace of mind because they can adapt to your business’s needs, whether that means full-time support or just filling in the gaps.
I’ve found that while the degree of support and insights we provide is the top benefit, our clients also appreciate the flexibility and overall cost-effectiveness because they:
- Are not locked into a full-time hire with benefits.
- Can scale support up or down as business needs change.
- Are not limited to the skillset or expertise of one person.
- Get the expertise of an entire financial team without the cost of hiring multiple full-time in-house employees.
Planning for Transition
Ideally, you’re able to get ahead of this before someone leaves so you’re not scrambling. In that case, we sit down with you to explore your financial health, evaluate where you are now, and identify what needs to happen next. Sometimes that means changes to your processes, and sometimes we’re able to work within the way you already do things:
What about once someone gives notice or has already left?
In my experience, the first step when someone leaves is to evaluate your financial processes:
- How are things really running?
- What might be slipping through the cracks?
- What is on fire most right now?
From there, we solve your immediate problems and then work on your long-term strategy.
In either case, by working with a team that’s used to handling transitions, you can avoid disruptions and keep everything on track.
Stay Ahead of Disruptions with Financial Management Support
I always say that losing a key financial player doesn’t have to spell disaster. In fact, my clients are always amazed by how much better they feel about their financial situation after bringing in an outsourced controller. We help fill the gaps and strengthen their financial processes, offering peace of mind and allowing them to focus on what matters most: growing their business.
I truly believe that planning ahead is the key to maintaining stability, no matter what transitions may come your way.
Don’t wait for a disruption. Plan ahead by partnering with an outsourced controller to ensure your business remains financially stable through any transition. Contact us to get started.
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