Why hire an outsourced controller?
Baystate Advisors Group also serves as an outsourced controller service in the Boston area. We have been trusted by many businesses in Massachusetts and all over the USA to create and implement new and enhanced accounting systems and procedures.
Hiring a part time controller allows a small business to free up valuable time that can be used in other areas such as growing your core business and finding new opportunities. It also brings in the accounting expertise and an outside look at new and improved ways to increase profitability. If your business does not have the expertise on staff and needs to get a firm grip on the back end of the business, working with Baystate Advisors Group is a smart move.
Ways a controller can help
A controller can help your business in many ways. Aside from taking a detailed look at your accounting systems, Baystate Advisors Group can do the following.
Through our discovery process, we will find opportunities for growth in your business and we will uncover concerns that you will need to address.
Our team can review and prepare all financial statements necessary for your business
We can prepare budgets and conduct comprehensive financial forecasting
Our team can also hire and train accounting staff for your business and guide them through any accounting procedures needed
Monitor cash flow and advise on best strategies
Prepare and close books on a month and year end basis
Spearhead any audit preparation
Work with an outsourced CFO
Your business may have accounting staff and even a bookkeeper. But do you have a qualified CFO? You may not need one on staff full time but hiring a CFO part time can provide your business with tremendous benefits and insight into your accounting and other financial controls. One of the more powerful ways a part time CFO can help your business is in strategic planning. Creating a plan that involves discovery, enhancing accounting systems and improving procedures can be a game changer for your business.
Other services provided part time
Strengthening internal controls and accounting procedures
A complete overview of revenue recognition
Guidance with lines of credit, equipment leasing and other forms of financing
Assistance with local, state and federal reporting and compliance
Guidance with business relationships including banking, insurance and other important vendors
Complete financial analysis and modeling
Preparation of board of directors’ reports