Sharing your financials and managing growth requires proper accounting procedures and digitised systems.
Let’s be honest: Many startups operate on a tight rope. Routine tasks like payroll and accounting are taking time and focus away from the core business. On top of that founders generally spend too much time trying to create back-office processes that aren’t effective or, even worse, ignore them. The solution? Scalable, outsourced back offices that provide a single point of information for fact-based decision-making.
Ask yourself: Have you taken the time to set up proper payroll, bookkeeping, and reporting —or does thinking about the next important investor due-diligence give you anxiety?
Just imagine what will happen if you rely on venture capital or even private backers, and someday they want to see the figures to gauge how you are doing, especially when the next funding round is around the corner. Without proper accounting procedures, you can’t share your financials in a way that will convince investors, and you can’t monitor whether you are on track.
Are there any more key advantages to getting an external back-office service? One is that you don’t have to build up and maintain your own experienced staff, which often means added overhead. So why don’t you only pay for the required service until your needs are satisfied?
The cherry on top: If you outsource your HR administration, accounting, and back-office functions, you are getting the most highly trained talent available. Accountants and HR experts need to stay up to speed on the latest tax codes, laws, rules, and regulations to help you comply with the law and save money. They can build customised and scalable systems that provide the information you need to make sure you are headed down the right path and are investment-ready.
Do you want to know more? Then don’t hesitate to get in touch with us now. We have the VC and startup-specific expertise and the right mindset.
