Outsourced Financial Department
This service provides startups and SMEs with a fully outsourced financial department. Prospair Vision handles all financial activities, from day-to-day bookkeeping to high-level financial reporting, budgeting, and strategic planning. It is a cost-effective solution for companies that lack an internal finance team but require comprehensive financial management.
Key Features:
- Bookkeeping and transaction recording
- Cash flow management and forecasting.
- Preparation of monthly, quarterly, and annual financial reports.
- Budgeting, forecasting, and variance analysis.
- Investor and stakeholder reporting.
- Strategic financial planning.
Implementation Process:
- Initial Assessment: Analyze the client’s current financial operations, systems, and reporting needs.
- Setup Phase: Implement financial tools and systems (e.g., accounting software, reporting frameworks).
- Team Assignment: Assign a dedicated team consisting of an accountant, financial analyst, and CFO.
- Ongoing Operations:
- Weekly bookkeeping updates.
- Monthly financial reporting and analysis.
- Quarterly reviews with stakeholders.
- Continuous Improvement: Refine processes based on client feedback and changing business needs.
FAQ'S
How does an outsourced financial department differ from hiring an in-house finance team?
An outsourced financial department provides the same level of expertise and financial management as an in-house team but at a fraction of the cost. Instead of hiring full-time staff, you gain access to a dedicated team of financial experts, including accountants, analysts, and CFO-level professionals.
Is this service suitable for startups, or is it only for established businesses?
Our outsourced financial department is designed for startups, SMEs, and growing businesses that need structured financial management but are not ready to build an in-house finance team. We provide scalable solutions that grow with your company.
What financial tools and software do you use?
We work with industry-leading accounting software such as QuickBooks, Xero, Zoho Books, and customized ERP systems based on your company’s needs. Our team ensures seamless integration with your existing tools.
How will I stay updated on my company’s financial health?
We provide weekly bookkeeping updates, monthly financial reports, and quarterly business reviews with key stakeholders. You’ll always have access to real-time financial insights to make informed decisions.
Can Prospair Vision help prepare financial reports for investors and stakeholders?
Absolutely! We prepare investor-ready financial reports, forecasting models, and stakeholder presentations to ensure transparency and confidence when seeking funding or making strategic decisions.
