Keeping the books on the up and up is critically important in today’s business climate. So many companies are flying by the seat of their pants with how they handle their money. They do not have a solid financial picture of where their companies are at, and that can lead to huge revenue strains and hemorrhaging funds. I hired a financial controller in Brisbane to keep track of our financial health as a growing business. We wanted to sustain a slow yet continued growth, but we did not want to outpace our earnings or projections for future sales.
Having true financial professionals monitoring where your business is at as far as its financial health is concerned is a good thing. Sometimes money on hand can seem ahead of what is owed in the short and long term. This can lead to overextending company resources by advancing with infrastructure and hiring new personnel. Professional financial controllers have their finger on the pulse of your business. This is the only way to know when to step out or step back. we thought we had plenty of money to build a new warehouse. The financial controller advised us of upcoming tax changes that we would need to comply with. We needed to put off hiring new people for at least a little while.
We were thoroughly pleased with the company we contracted with to financially take over the reigns of our business. They ran the numbers and projections for us for different scenarios we wanted to explore. They do all of our management accounting and traditional bookkeeping too. Now our board and the managers are equipped to make better decisions as to directing revenue streams to different products and services that we sell. Us managers are actually taking a sigh of relief now that people more qualified with numbers than us are at the helm.