Last month you hired some guy to be your accountant/comptroller. You think his name is Brian but you’re not really sure because he rarely comes out of his office and he doesn’t have a voice in strategic decision-making.
As a digital agency grows, their financial management responsibilities increase. Yet they remain professional services operations without inventory or very much overhead. In other words, these businesses lack the breadth and scope of financial management needs that face larger retail or manufacturing businesses.
Unfortunately, many agencies discover the exact scope of their financial management needs after hiring a full-time, in-house financial expert. The wage often outweighs the responsibilities and many agencies attempt awkward hybrid roles that combine financial management with database support, human resources or some other talent gap in order to justify the position.
If your accounting is truly being executed efficiently, you probably need to consider a full-time outsourced CFO or accountant. And a CFO shouldn’t be a catch-all solution to the remaining paperwork-oriented matters within your business. The CFO quickly becomes a burdensome anchor that causes financial strain on the company.
Accounting firms that offer an outsourced CFO function can provide beneficial benchmarking data that can grow sales for their clients. Unlike full-time employees, outsourced accounting teams have strong relationships with banks, venture capitalists and angel investors that can provide access to capital as most small businesses find they need at some point in their company’s lifespan.
When we’re working with clients, we work together as a team. We brainstorm. We troubleshoot. We can’t imagine doing what we do without working in partnership alongside you.
The Time Is Now
We’re here to tell you that it doesn’t matter where your digital agency is in its growth curve – managing its money doesn’t have to suck.
At Accountfully, no two clients are the same and we recognize that needs change over time. That’s why we work with businesses to address their immediate needs and to plan for future growth. We do this through a tailored blend of financial expertise and smart task execution that can’t be found with traditional accounting models.
We do the day-to-day work of professional accounting and bookkeeping while also serving as a strategic partner that helps our clients navigate complex financial challenges and opportunities. Read the in-depth guide to digital agency accounting in The Digital Agency Handbook. Here's your free eBook download:
Accountfully offers outsourced accounting services nationwide, with offices in Charleston, SC and Nashville, TN. If you would like to see how outsourcing your accounting can work for you, tell us about your business and we will gladly schedule a chat to discuss more.