Chief financial officers (CFOs) struggle to strike a balance between strategizing long-term business goals, while ensuring that short-term tasks get completed. It’s difficult to focus on the future, while being distracted by the routine, daily financial transactions. Many companies are considering a new approach to financial management and they are finding success.
By strategically outsourcing financial and accounting (F&A) activities, while maintaining a core team in-house, CFOs are able to take a strategic approach to financial management. Outsourcing routine transactional tasks saves valuable time and delivers the financial insight and control CFOs need to drive growth.
Balancing Daily Financial Tasks While Strategically Planning for the Future
What keeps CFOs up late at night is that there is often too much to do and not enough time to do it. As day-to-day financial operations get backed up, CFOs and their team are getting further behind, unable to get a clear picture of corporate finances. The further they get behind, the harder it is to forecast specific financial plans or steer the business in the right direction.
As highlighted in “Outsourcing Lets CFOs Stay Focused on Growth,” over 90% of the 380 financial executives surveyed indicated they need to do more with financial and operational data for critical decision-making. Over 70% indicated ‘supporting decision-making’ is their top priority for 2017.
While a common knee-jerk reaction is to hire more staff, the problem isn’t the number of people on hand. As noted in this white paper, outdated technology, inefficient processes and disconnections among key financial teams is the real root of the problem. The distractions of daily F&A tasks is taking too much time for many CFOs, leaving little to no time for planning. In order to get ahead of these challenges, CFOs are calling in a different kind of resources and technology.
Gain Greater Insight and Control with Modern Technology and Outsourcing
Get back to being the strategic CFO your business needs by taking advantage of a new business model. A combination of cloud-based technology and outsourcing F&A tasks will alleviate the pressure and give you back the time needed to guide business in the right direction. The Consero Financial Solution is a comprehensive financial management system that offers F&A support from bookkeeping and controller services to finance and consulting services.
The Consero Financial Solution serves up current, reliable financial information you and your team can use to support decision-making and streamline other back office tasks. CFOs and other executives can rely on real-time data to make prompt, strategic decisions to support continued growth. Other benefits from this innovative business model include:
- Improved productivity with a new focus on business growth
- Current, reliable data that delivers actionable insight
- Reduction in common, distracting administrative tasks
- A shared service model that delivers added value
More strategic CFOs are adopting this cutting-edge, outsourced model to free up time and get closer to key data. This, along with the Consero Financial Solution, will provide the control and insight you need to steer your business toward success. Download the white paper and contact Consero Global for more information about gaining greater control of your financial operations through outsourcing.
