How does an outsourced finance team work day to day?
The finance team should have agreed routines for bookkeeping, invoices, payroll, VAT, payments and queries. Everyone should know what information is needed, who provides it and by when.
There should be a regular routine
The finance team should have agreed routines for bookkeeping, invoices, payroll, VAT, payments and queries. Everyone should know what information is needed, who provides it and by when.
You should know who to speak to
The business should know who owns the relationship day to day, even if different specialists handle different work behind the scenes. Outsourcing should not mean sending questions into a generic queue.
The numbers should be reviewed, not just produced
Current records feed into regular management reporting, cash forecasting and agreed review meetings. That's where the service moves from processing transactions to helping manage the business.
It should feel like part of your business
A good outsourced team behaves like part of the business: it understands what is changing, asks questions and raises issues. The relationship works best when information flows both ways rather than appearing only at deadlines.
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