Outsourced financial management for ambitious businesses
We can be your finance department
When your business was young, you likely got away with Microsoft Excel being the most advanced financial management software you used. You might have scraped by with only a rough idea of what was going in and out. It probably didn’t matter if the figures in your annual report felt slightly ‘off’.
Somehow, your business muddled through.
Fast-forward to today. Your business is growing, and you’ve probably invested in an accounting package from a software provider like Xero or Quickbooks. Even so, you’re becoming aware that your finance function still requires a lot of work in order to cement your growth and facilitate further development. The difficulty is that you’re still so involved in the day-to-day running and administration of your business that it’s hard to make time for strategy and planning. You know things need to get better, but you’re not really sure how to take that next step.
Enter Insight Associates
Insight Associates helps ambitious businesses to professionalise their financial management systems and processes so that they run like clockwork, enabling you and your business to thrive. We’ve invested in iplicit, an award-winning cloud accounting solution, allowing our clients to step up their financial operations without the prohibitive price tag. And we’ve spent decades developing a diverse, highly capable team of financial experts, with the full complement of specialisms and qualifications required to cater to the financial needs of any business.
Take control like never before
We understand that, for many businesses, bringing a third party into their inner circle is a daunting prospect that takes a lot of trust. We’re asking our clients to take a leap of faith and essentially entrust us with their life’s work.
But here’s the thing. Running a business is a lot of responsibility, especially if you’re the one in control of the day-to-day management. Sometimes, it can feel like a struggle to simply keep your business ticking over – never mind strategic planning or the implementation of new systems and processes. So, you just continue doing things like they’ve always been done, even though you know it’s not contributing to the growth and development of your business.
Insight Associates helps to lift that burden, taking responsibility for the day-to-day running of your finance department so that you have the headspace to think about the stuff that really matters.
And, whilst it might feel like you’re handing over control to an unknown quantity, our clients report that they actually feel more in control of their business than ever before. Why? Because, for the first time, they have the relevant, accurate financial information they need (and a solid understanding of that information, courtesy of our team of financial experts) to feel confident about the future. They can invest in their business without worrying, because they are making informed, strategic decisions from a place of real knowledge and insight. By working in collaboration with us, they have the technology, processes, financial reporting and strategic intelligence they need to feel confident about the future.
How do we do it?
By offering a service that provides everything you’d expect of a bookkeeper, an accountant, and a Finance Director, all in one convenient and cost-effective solution.
So, what does this mean in practice?
It means that we help you build your finance department from the ground up
We think of a well-functioning finance department as a pyramid made up of three distinct blocks: bookkeeping, accounting and Finance Director. Each part of the pyramid has its place in the wider whole, and the pyramid can’t function effectively unless all three blocks are present.
Now, most of the clients we work with will have the bottom layer of the pyramid – and maybe even the bottom two layers – in place. But they’re still struggling to grow and develop their business as they would like to. It’s because they’re missing the point (sorry, we couldn’t resist). You could have all the accounting reports and numbers in the world at your disposal (the quality of these is of course another question), but it’s no good if you don’t know what to do with that information.
Likewise, it’s no good having an accountant to make sense of all your incomings and outgoings if the numbers they’re working with are inaccurate. At the bottom of the pyramid, you need robust foundations – tried and tested systems and processes to make sure all your transactions, invoices, expenses and investments are meticulously processed and that the data is accessible to those who need it.
Director
Accountant
Bookkeeping & Accounting
Bookkeeping & Accounting
Firstly, we help you implement tried and tested financial processes and controls to facilitate efficient and accurate bookkeeping. This will ensure that you’re keeping an accurate record of your business’s daily transactions, including sales, receipts and expenses. In turn, it means that reports based on this data will be accurate and valid – and that you’re making decisions based on your business’s true financial position.
Accountant
Think of bookkeeping like the foundations of a house. When you add in good accounting processes, this is like building the house – everything begins to take shape and it becomes easier to track progress and understand what the house will eventually look like. An accountant will take the data provided by the bookkeeper and use it to produce reports that help their clients benchmark performance and track trends in their business finances. Comprehensive and accurate financial reporting will also reveal any discrepancies with the potential to impact your business.
Finance Director
So far, so good. But what we haven’t got from the previous two stages is any kind of strategic input. That’s where your Finance Director comes in. Our specialist team will be on hand to interpret the reports provided by your accountant, using them to provide you with crucial strategic insights to ensure you’re making informed financial decisions from a place of real knowledge and understanding.
A full range of services in one, convenient solution
We go above and beyond the role of your average bookkeeper and accountant. We help you interpret and understand your financial data, provide high-level financial advice and strategic guidance, and help you make better decisions based on clear, accurate financial information.
We don’t have a crystal ball, but we can provide you with solid financial data to help you visualise what your business’s future might look like and to allocate resources appropriately in order to meet your objectives
We’ll take care of your quarterly VAT returns, file them with HMRC and ensure you pay any VAT owing.
We’ll take responsibility for managing your incoming invoices and outgoing expenses, implementing good credit control processes to reduce late payment and improve your cashflow.
How does it help my business?
Working with Insight Associates has been a transformative experience for many of the clients we work with.
Additional services
In addition to the broad range of services included as part of our outsourced financial management package, we also offer specialist bolt-on services on top of our standard offering.
We can help you:
- Develop your business strategy
- Establish a reliable cashflow
- Make well-informed business decisions
- Process transactions promptly and accurately
- Work within a budget that helps you achieve your goals
- Know exactly where your profit lies
- Trust the numbers
- Feel in control of your finances
- Stop feeling financially exposed.
Our clients report feeling more in control than ever before, because the way ahead is now clearer than it ever has been. Because when you know exactly where your company stands financially, you’ll be able to make well-informed, strategic decisions about the future of your business.
Rather than spending your time putting out financial fires, you’ll be able to spend more time developing and investing in your business.
The result? Faster, more strategic growth.
Why outsource?
It’s tempting to believe that one in-house employee can take care of all your company’s financial matters.
But the fact is, you might not be able to afford the expertise you need. It’s highly unlikely that a single person will have the specialist knowledge and expertise to deal effectively with every financial situation your business might face.
When you outsource, though, you have access to a full finance team with a wide variety of expertise and qualifications. What’s more, we’ve invested in world-class technology to handle your accounts and revolutionise your financial systems and processes.
In-house employees don’t come with these extras attached.
The bottom line?
When you outsource, you get access to people, skills, systems and technology that you simply couldn’t afford in-house.
Additional services
What is an outsourced finance department?
In this video, our Director Garry Mumford explains exactly why ambitious businesses looking to grow need a finance department that’s up to the job – and how outsourcing to Insight Associates could help you achieve your growth and development goals.
Testimonials
Invest in your business today
Ready to step up, invest in your business and reap the benefits?
