In today’s blog, Nick Urry, CA and Managing Director of Dexterous Group, discusses a common problem seen when new clients reach out, engaging Dexterous for their services.
“A client may have a bookkeeper to keep the lights on but when we break it down, it may require more detailed financial skillsets that, in fact, a Financial Accountant, Management Accountant and/or Finance Manager could provide to their business”.
A few common problems that arise from this situation are:
- Bookkeeper operating as a Finance Manager – we hear a number of times from our clients that they require more help and they’re just not getting it from their internal Bookkeeper. This Bookkeeper may be great at staying on top of the invoicing and bank reconciliations however does not or struggles to provide the insight or higher-value support a growing business requires. This can cause frustrations and can lead to resentment as you attempt to position them as someone they’re not.
- Not getting the right support when you need it – as your business grows so do your finance requirements. Perhaps you want a payroll expert on a Monday and a Management Accountant on a Wednesday to do a deep dive on the cash flow or profitability of the business? You also need to stay on top of your reconciliations and your compliance obligations. But it’s rare that one person will be able to complete all these tasks for you.
- Unengaged Employees – you will struggle to keep a Finance Manager engaged if you have them doing payroll or bank reconciliations. The Finance Manager has done their time performing these rather transactional-level tasks and is generally looking to operate at a higher level.
About now you are probably wondering how Dexterous can solve these problems we’ve outlined?
Our Finance Solution
At Dexterous we don’t just give you a bookkeeper or a Finance Manager, we aim to provide you with a solution! Now that sounds like a sales pitch but it’s true. The Dexterous finance solution aims to equip our clients with the right support, at the right level. For example: if all you need is 40% of a Bookkeeper and 30% of a Management Accountant plus 30% of a Finance Manager, well then that’s what we provide a client. No longer are you paying for a Bookkeeper to be a Finance Manager or, even worse, paying for a Finance Manager to be a Bookkeeper. That can be costly to your business.
Our Sydney and Manila teams are well-equipped to manage your finance function in a technology-led, cost-effective and efficient manner ensuring you have the right level of resourcing only as and when you need it. We provide the intimacy of a purely Sydney-based business with the cost-effectiveness associated with a Manila-based team. We leverage our Manila team to focus primarily on the transactional-level work and our Sydney team is there to meet face-to-face in your office providing those higher-value conversations if required.
How do we do this?
- We build relationships through our Sydney team.
- We understand every client is different, we focus on what’s important to your business.
- We don’t put you in a box. Instead, we will work with you to identify and provide the right finance solution for your business.
- Every client has a hyper care phase where we invest heavily in understanding your needs and your business. We then truly understand how best to service you.
- We’re experienced and put simply know what questions to ask.
At the Dexterous Group, we understand that your needs may not be the same as the next person’s and we would love to help you grow your finance team to ensure you have the right level-support when you need it.