Why we’re different
We’re not bookkeepers. Or accountants. Or Finance Directors. We’re all three, combined into one convenient package.
Let us explain why this makes us different.
A bookkeeper will help you keep your business finances in order. They’ll process your transactions, manage your payroll, process your VAT returns and do your taxes. But they’re not responsible for analysing or making sense of the data they gather.
An accountant will provide you with financial reports like profit and loss statements and balance sheets, which will help you track general financial trends and benchmark performance. They might even point out the odd discrepancy. But they won’t do the higher-level stuff, i.e., helping you interpret and understand the data they’ve presented and offering strategic advice and guidance to facilitate your decision-making process. It’s not because they’re not doing their job properly – it’s quite simply beyond their remit.
Of course, you can hire a Finance Director or outsource to a business consultancy service if you’re looking for strategic input. But they won’t concern themselves with the minutiae of everyday financial management.
Usually, you would have to hire for these three roles separately, or outsource to different service providers. The difficulty here is that each employee or provider will likely have their own way of doing things. It’s difficult – not to mention expensive – to find people or providers who are primed to work together to form a cohesive whole.
And then there’s Insight Associates.
We don’t see why you can’t have it all.
We see your finance function as three parts of a pyramid.
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
Each layer of the pyramid is dependent on the one below; without all the layers, your finance function would simply fall over. The great thing about working with Insight Associates is that we can provide the whole pyramid. And, because we’re all part of the same team and use the same systems, software and accounting methods, you’ll enjoy a seamless, cohesive and high-quality experience from start to finish (and top to bottom).
Bookkeeping & Accounting
Bookkeepers form the bottom part of the pyramid. They are the solid foundations of any finance function, undertaking a wide range of back-office tasks and gathering the raw financial data used by your accountant.
Accountant
Your accountant is in the middle of the pyramid. They use the data your bookkeeper has provided to produce reports that offer a broad overview of your business’s financial situation and performance.
Finance Director
Your Finance Director is at the very top of the pyramid. They’re responsible for interpreting the numbers and helping you understand what it all means. On top of that, they’ll provide strategic advice and guidance, helping you make confident decisions from a place of real knowledge and understanding. Ultimately, your Finance Director is there to support you in growing and developing your business and achieving your business objectives.
A full range of services in one, convenient solution
We help our clients build a solid financial foundation on which to grow their business. But it’s so much more than that.
Imagine how confident you’d feel if every single business decision you made was based on solid, accurate financial data that you genuinely understood. Imagine having ready access to high-level strategic advice on all aspects of business development, from recommendations for increasing operational efficiency to the development of your fundraising and investment strategy. Imagine how much time and headspace you’d get back to focus on what you do best, knowing that your finance function was all taken care of. With Insight Associates, it’s all within your grasp.
Many of the businesses we talk to are concerned about relinquishing control of their finance function. They understandably worry about letting a third party into their inner circle and entrusting them with such an important part of their business. That’s why we work so hard to build strong relationships with our clients, founded on trust, reliability and clarity of communication, ensuring you feel confident, informed and in control at all times.
As we’ve mentioned, we provide all three layers of the pyramid that makes up a fully functional finance department. But we also understand that you might already have an accountant or bookkeeper that you’ve worked with for a long time and have come to know and trust. We’re very happy to flex around your circumstances and supplement the resources you already have, ensuring you have access to the services you need, when you need them.
Working with the Insight Associates team also means access to iplicit’s award-winning accounting software that is advanced enough to support your growth both now and in the future. It provides greater flexibility and enhanced levels of reporting compared with entry-level accounting software, and integrates into other cloud applications for a seamless migration path from your existing system.
When it comes to your business, one size does not fit all. We spend time getting to know you and your business, understanding what makes you tick and your goals and objectives for the future. We get to know our clients so well, in fact, that many of them end up forgetting that we’re not actually part of their team! Our in-depth understanding of your business enables us to deliver advice, guidance and recommendations tailored to your business, so you’re always moving in the right direction.
Experience the Insight difference
Don’t just take our word for it – find out for yourself! Get in touch for a chat about how we can work together to make a real difference to your business.
