How well does your accountant know your business?12th February 2020
When was the last time that your accountant visited your business, walked around your office and spoke to your staff?
I’m going to go out on a limb here, and guess that the answer is “a long time ago”…
Or just as likely, “never”.
The vast majority of traditional accountants never visit their clients’ offices. They expect you to visit them – and might not even really know where your offices are!
They don’t need to.
As I explained in my last blog, they are mostly focused on routine tasks which you are legally obligated to do, like producing annual accounts and filing your VAT returns.
To get this right they need your numbers – they rarely need you.
…All of which goes a long way to explain why traditional accountants also only rarely offer the kind of financial advice you need to really drive your business forward…
…And why so often, company leaders complain that their accountants are just not proactive enough about helping them grow.
How can they be, when they hardly know your business?
When they engage with you only every quarter or so…
When most of what they know about your business appears on a spreadsheet…?
With only surface knowledge of your business, they are simply not equipped to give you valuable, useful advice about what you need to do next. You wouldn’t want them to!
That’s one of the differences you’ll experience when you work with the Outsourced Finance Department, as opposed to a traditional accountant.
We make it our business to know your business inside out….
So even though we work from our own offices, you’ll see us very regularly in yours. And even when we’re not physically around, I don’t think a day goes by without us being in touch with the majority of our clients.
We are often included in staff Christmas parties and invited to company events, because as far as our clients are concerned, we’re part of the team!
And at every stage, we ask questions… So many questions!
We want to understand your history, your product or service, the market in which you operate, your competition, your staff…
We need to understand the pressures your company is under, where your company is strong and where it’s weak, what opportunities might present themselves…
And we want to understand you, the CEO, and what your personal priorities are, too.
Because, you see, without that intimate, in-depth knowledge, we just couldn’t do our job, which includes offering you the very best guidance and advice on how to develop your business in a financially savvy way.
Knowing your company like this means we can add enormous value, not just doing your numbers like a traditional accountant (although we do that too), but making sure your decisions make financial sense…
…and proactively helping you to grow.
The truth is that if that’s the kind of help you want from your accountant, you’re likely looking in the wrong place.
That’s the kind of service you get from a finance director.
It’s the kind of service you get from us.
I’m looking forward to hearing from you.