Outsourced Controllership and CFO Services

TANgible Process

Do you want to pay for an expensive Controller who spends majority of their time doing the lower-paying work of a bookkeeper?

Small business owners have learned that having a full-time Controller on payroll is not as beneficial as first assumed. Experience has shown that businesses have overpaid for someone whose most valuable abilities are under-utilized. Instead, it’s much more cost-effective to farm out specific duties to two or three part-time or outsourced individuals – such as a bookkeeper, accountant, controller or CFO – whose main focus will be their core functions and areas of expertise.

Our cost-effective and value-based outsource accounting service offers you the flexibility and depth of experienced talent to fill in the gaps. Our service cost is considerably less than what you would pay an employee with burden cost (payroll taxes, health benefits, etc.). Outsourcing enables you to adjust your staffing resources as required, while avoiding the liabilities associated with hired staff.

Controllership Services

Step 1:

Determine candidacy for Controllership services

Each business is different, and our solutions are as diverse as our clients. Though outsourcing doesn’t suit all small businesses, we can take the necessary steps to analyze your situation and needs to help you decide if an appropriate level of back office function should be outsourced, and if it’s the right overall choice. If so, we’ll design the right solution for your company to meet its unique challenges.

Example of Solutions:

– We can work with your existing accounting team and provide oversight; we can also provide guidance in developing efficient workflow, automation of accounting system and duties and develop internal controls using best practices learned through having worked with over 50 companies in several industries.

– We can act as middle management support for the CFO; this will protect the CFO from being inundated with day-to-day operation issues from junior staff.

– You can choose to outsource your entire accounting department. We have the appropriate team to support E2E (end to end) accounting and administration.

Step 2:

Your TANgible Controller

We can come up with a short-term plan to meet the deliverables you set. We can also provide on-going services to support your accounting team in its day-to-day functions.

**See Controllership Services below

Step 3:

Year- End & CRA Compliance

The Controller or CFO picks up where the bookkeeper or general accountant leaves off and before your Auditors or Accountants perform the year-end closing.

This approach optimizes your company’s ability to become more profitable through internal management accounting (See Internal Management Accounting below).

Busy business owners can benefit from regular dashboard financial reporting that measures the company’s performance.

The cost for outsourcing controller services is very minimal compared to the salary of a full-time senior manager. As the Controller, we will evaluate your strengths, create strategies to leveraging them, then capitalize on opportunities to stay ahead of competitors.

 

Note 1: Controllership Services

We provide financial reports that cover resource utilization / variance analysis / job costing / cost saving strategies/ profit maximization / internal controls / risk mitigation / review existing and/or Design Accounting and Administration workflow

 

Note 2: Internal Management Accounting

TANgible Accounting will help you prepare budgets for cash flow and profit planning. We help you get better control over your business with highly capable management control tools. Customized reports, which show segment reporting and profit margins, will allow you to see profitability of each revenue stream. You now have the best information available to make business decisions that enhance profitability. Similarly, job costing reports for manufacturing companies create visibility on which projects are profitable. Tracking of capital cost, advertising campaigns, marketing initiatives and calculating investment ROI can be easily performed using tools built in Quickbooks.

Business Management Advice

Our Controllers go beyond the traditional budgeting process to proactively help you infer monthly actual results, and compare prior year results with current year budgets. These reports include detailed KPIs and ratio analyses that apply to critical areas of your business. We work with you quarterly / yearly basis to review your Operating Plan.

 

Recent Accomplishments:

Successfully revised/streamlined processes, reducing overtime by 20% and creating efficiency

Designed an E2E (End to End) process flow in Accounts Receivable / Accounts Payable / Purchase Order System

Designed custom reports leading to business intelligence in cost savings initiatives

We have successfully implemented strategies within various industries, including Real Estate, Facility Management and Construction.

 

 

CFO Services

Based on business needs, our CFO service can assist with working capital or asset financing. We often meet with bankers, private lenders, or institutional investors to meet the cash flow needs of your business. We can collaborate with your Senior Managers in developing and monitoring asset-based lending, banking guarantees, insurance certificates, Line of Credit, and Letter of Credit.

• Aligning operational strategies with mission and vision
• Liaising with bankers, lawyers, vendors, insurance agents, etc.
• Negotiation of insurance policies, rental agreements, contracts, etc.
• Sounding board to help clarify the financial impact of business decisions.
• Better understanding of your financial information.
• Budgeting, business planning, cash flow monitoring, etc.

TANgible Accounting provides you with a team of trained, seasoned experts for just a fraction of what it would cost to handle those critical duties with full-time professionals. In addition to these substantial cost savings, business owners who entrust their financial, accounting and bookkeeping responsibilities to TANgible Accounting receive two even more precious commodities: time and peace of mind.