When your company was founded, your financial needs were fairly simple. A bookkeeper could handle most of the daily financial transactions. As your company expands and evolves, your finance department must evolve too, or it will have people that are either over-qualified or under-qualified for their role. Or perhaps, they are no longer necessary.

  • Employing over-qualified or redundant team members leads to unnecessary costs and employee dissatisfaction.
  • Employing under-qualified team members leads to poor performance and additional expenditure to train them. That causes department strain as more-qualified members are needed to pick up the slack.
  • Finding, hiring, and training people to address your financial needs is both costly and time-intensive.

As a leader of your company, you should ask yourself the following questions about your finance team:

  • Are they over-qualified or under-qualified? Or a mix of both?
  • Is the team aligned with our business goals?
  • Are they able to translate accounting information into business terms and impacts?
  • Are financial activities usually performed in a proactive or reactive manner?
  • Do they have a full-range of skillsets to optimally support strategic planning, provide financial reporting, and drive operational improvements?

Personnel Best Practices:

  • Routinely audit your existing financial team’s skillsets to ensure they can meet both your existing and forecasted needs.
  • Outsource financial activities to address skillset gaps and save financial capital.
  • To retain key personnel, carve out optimal roles and career paths to ensure ongoing loyalty and maximum productivity

The Consero Solution: Consero is a finance & accounting software and services firm that helps small and mid-size companies gain clarity around their business performance and scale their operations. What is really unique in our solution is that we combine traditional CFO, controller, and bookkeeping services with proven processes and integrated software that gives executives a dashboard view of how their company is performing as well as the ability to invoice customers and pay bills all in one place. With this platform approach, clients gain enterprise-level financial visibility and controls at a fraction of the cost and time required to set up and manage an internal finance team and infrastructure.

·        “It’s a big shift in mindset to be comfortable with people doing work offsite, but the way we are today with technology, it makes a lot of sense to consider outsourcing components, especially related to financing and accounting.”

·        “Consero provides the financial backbone that grows and changes alongside high-growth organizations, all the while offering critical financial planning and analysis support.”

I’ve been universally impressed by every member of our Consero team, especially their ability to ensure a smooth transition from our prior consulting firm. As a pre-launch company, we really value the team’s input to our revenue recognition approach and their deep expertise with e-commerce and online transactions. Each member of the team is detailed, professional, and a pleasure to work with. I’m confident we made the right decision to switch to Consero.”

“In the six to eight weeks of Consero implementation, I feel like we made more progress in that time than the six to eight months on our own before prior going to Consero.”