Why you should hire a part time Financial Controller

If you own or run a small to medium sized business, you might think that it’s unnecessary to have a financial controller on your team. In fact, you might be of the opinion that multinational companies are the only organisations that need controllers. If you are of this mind-set, it’s time for a shift in your thinking as a good financial controller is an important part of any management team, no matter the size of a business.

So, regardless of if you run a small, medium or multinational sized company, it is imperative to hire an experienced and reliable financial controller, at least in a part time role. Let’s delve into this a little further by explaining what a financial controller is and why it’s so important for businesses to hire one.

What is a financial controller exactly?

He or she is the person who oversees your accountant and analyses and streamlines your finances. It is so important to stay on top of all your accounting and finances, including your payroll and invoicing, and having a financial controller on your books will ensure that you do exactly that. If your business is growing, this might become too time consuming for you or a single accountant to keep track of.

Financial controllers bring with them a lot of attributes to a company, some of which include:

Experience

When hiring a part time financial controller for your business, always make sure they have a lot of experience in the field, so they can represent your needs well. If you run a growing business it can be a great asset to have a part time financial controller on your team, as they can apply their vast experience to your business, and give you great advice on how to expand or accelerate growth. They will know the ins and outs of regulations and laws and will always be up to date with the latest changes.

Professionalism

Having a part time financial controller working for you can be very valuable as your business expands and you have to make and maintain strong external connections with banks, investors, lawyers and auditors. A well-respected financial controller with experience and a great reputation in the industry will be able to represent you in a professional manner. They will immediately give your business more credibility through their professionalism and expertise.

Knowledge of Accounting and Taxes

Your accountant will take care of your everyday accounts and payroll so where does a financial controller come in? It’s simple – your financial controller will oversee this area of your business and keep the long-term vision and plan of your company in mind with every decision they make. They can also help you analyse your data in order to make better decisions in the future, which will help you save money and increase your profits in the long run.

Team Leading Qualities

A good financial controller will not only have strong accountancy skills but he/she will also have soft skills, which are extremely important given that teamwork is such a crucial part of this role. It can be a great advantage to have a controller with strong leadership and team work skills on your team as they will be competent enough to take care of many of the tasks you had to take on when first starting out. This will free up a lot of your time that you can then use to focus on other areas of your business such as product development, sales and marketing.

The qualities that a financial controller can bring to a company should not be overlooked, regardless of the size and nature of a business. Are you ready to invest in your business and avail of the above benefits and more?