Why outsource your accounting and finance, I mean you know the most about what is happening in the business?
It used to be there were two choices for your early stage or young company; you could hire a bookkeeper, or you could pay a CPA by the hour to do your taxes. If you hired a bookkeeper, they would keep track of your expenses, your cash balances, and maybe process your payroll, but that was it and that was maybe enough. When it came tax time, you gave the bookkeeping records or bank statements to your CPA and they filed your taxes, and that was maybe enough.
But now it is so much more complicated. Your company has investors or wants to find investors, you have remote employees and contractors and they want benefits. You have employees asking for human resource policies and the banks are asking for your financial statements every month, what on earth for!!!! When they ask for a forecast or a pro-forma you have to Google what exactly they are looking for. When you receive a letter from the state asking about annual registrations you just scratch your head, and so on and so on.
Now you have another option, you can hire TruSpan to provide Finance as a Service (FaaS), providing you with just a fraction of the resources you need for varying financial and accounting services for the cost of a bookkeeper. Below is just a summary of the types of needs a small technology company may have and the resources that would typically perform those services along with the average annual compensation you would pay for a full-time resource.
But most early stage or scaling companies need only a percentage of a full-time resource for each of these areas and may even need a larger percentage at varying times for each expertise. In order to hire a fully staffed team to perform all of these functions, you would need to spend almost $500,000 per year. With TruSpan you would spend just a small fraction of that amount and receive the level of service you need under each expertise. Alternatively, you could try to go it alone and hire fractional employees for each of these areas, but you would then need the management oversight to ensure the areas are working in unison.
Let TruSpan help you out with our Finance as Service (FaaS). We will save you money, time, and support your scaling venture. We can’t wait to hear from you and learn about your business!!!!