Unlocking High-Quality Finance Talent: Achieve FP&A, CFO and More with Our Flexible Team Solutions

Many small finance departments face a common challenge: they need a full range of finance roles filled, from FP&A and controller to CFO and staff accountant, but hiring for each position individually is too costly. The solution lies in accessing a flexible finance team that combines both onshore and offshore resources. This approach ensures you have all the necessary skillsets without the expense of building a large in-house team.

Flexible finance team working together across locations

Why Small Finance Departments Struggle to Fill All Roles

Small finance teams often juggle multiple responsibilities with limited staff. Each role in finance requires specific expertise:

• FP&A (Financial Planning & Analysis) focuses on budgeting, forecasting, and strategic planning.

• Controller manages accounting operations and ensures compliance.

• CFO provides leadership, financial strategy, and risk management.

• Staff Accountant handles day-to-day bookkeeping and reconciliations.

  
  

Hiring specialists for each role can quickly become expensive, especially for startups or small businesses with tight budgets. Additionally, finding talent with the right experience in all these areas can be difficult in a limited local talent pool.

How Flexible Team Solutions Bridge the Gap

Flexible team solutions combine onshore and offshore finance professionals to create a comprehensive team tailored to your needs. Here’s how this works:

• Onshore resources provide close communication, real-time collaboration, and understanding of local regulations.

• Offshore resources offer cost-effective expertise in routine accounting, data processing, and financial analysis.

  
  

By blending these resources, you get access to a full finance team without the overhead of multiple full-time hires. This model allows you to scale your team up or down based on workload and business growth.

Benefits of Using a Combined Onshore and Offshore Finance Team

Cost Efficiency

Outsourcing parts of your finance function offshore reduces labor costs significantly. For example, routine accounting tasks handled offshore can cost 40-60% less than hiring locally. This frees up budget to invest in strategic roles like CFO or FP&A onshore.

Access to Diverse Skillsets

A flexible team brings together professionals with varied expertise. Offshore accountants may specialize in transactional work, while onshore FP&A experts focus on forecasting and strategy. This diversity strengthens your finance function.

Improved Focus on Core Business

With a reliable finance team handling both operational and strategic tasks, your leadership can focus on growing the business. You avoid the distraction of managing multiple hires and training new staff.

Faster Hiring and Onboarding

Building a full finance team from scratch can take months. Flexible team solutions provide immediate access to experienced professionals, reducing downtime and accelerating project delivery.

Practical Examples of Flexible Finance Teams in Action

• Startup Scenario: A tech startup with a small finance department uses offshore accountants to manage bookkeeping and invoicing. Meanwhile, an onshore FP&A analyst helps with budgeting and investor reporting. The CFO role is filled part-time by a consultant who provides strategic guidance.

  
  

• Growing SME: A mid-sized company outsources its controller and staff accountant roles offshore to handle month-end close and compliance. The onshore CFO and FP&A team focus on cash flow management and long-term financial planning.

  
  

• Seasonal Workload: A retail business hires offshore staff accountants during peak seasons to manage increased transaction volume. The core onshore finance team remains lean and focused on analysis and strategy.

  
  

How to Set Up Your Flexible Finance Team

1. Assess Your Needs: Identify which finance roles are critical to keep onshore and which can be supported offshore.

2. Choose Trusted Partners: Work with providers who have proven experience in both onshore and offshore finance staffing.

3. Define Clear Communication Channels: Establish regular meetings and reporting to ensure alignment across locations.

4. Implement Secure Technology: Use cloud-based accounting and collaboration tools to facilitate seamless workflows.

5. Monitor Performance: Track key metrics like accuracy, timeliness, and cost savings to evaluate team effectiveness.

   
   

Key Considerations for Success

• Cultural Fit: Ensure offshore team members understand your company culture and business goals.

• Compliance: Verify that offshore providers comply with relevant accounting standards and data security regulations.

• Training: Provide ongoing training to keep all team members updated on processes and tools.

• Flexibility: Be ready to adjust team composition as your business evolves.

  
  

By carefully managing these factors, you can build a finance team that delivers high-quality results at a fraction of the cost of traditional hiring.