External Controller Advantages
What are the advantages to the Company and the CEO when appointing an external controller?
Reducing a considerable burden on the Company's CEO in the financial field:
- Freeing the CEO's quality time to promote the Company's business objects
- Taking maximum advantage of the CEO's natural abilities
Transferring the responsibilities relating to the Company's financial matters to the professional specializing in the field
Transition to a framework and organized work procedures as in large companies:
- More supervision of the accounts
- More supervision over the purchasing process and suppliers
- More supervision and control over payments, errors, duplications and embezzlements
- More organized and written work procedures
- More supervision over cash, inventory and other assets
- More supervision over the flow of data in the Company
- More meetings, more reports and tools for taking decisions
To be a small company but act like a large one!
Reports in real time:
- Preparation of reports in real time, weekly, monthly, and annual cut offs.
- Preparation of reports on the basis of real data and not retroactive.
- Preparation of the budget against actual on a monthly level which provides information on utilizing the budget in real time.
- Preparation of cash flows on a daily/weekly/monthly level enabling better management of the Company's cash.
- Preparation of a monthly statement of income enables the Company to know the results each month and analyze profitability.
- Finding the Company's breakeven point is an essential and basic target for every company.
- The reports received assist in taking decisions and make the required changes based on actual results.
The object is to present the truth to company's management as early as possible!
Forward planning:
- Preparing targets and goals to be achieved for the following year.
- Preparing a budget for the next year in which the company's targets and forecasted results can be seen.
- Preparation of cash flows for the year ahead will enable the Company to plan for its needs for the following year.
We are always looking ahead!
Saving controller costs:
- Cost of a part-time controller is considerably less than an employed controller in a full time position in the Company.
- Freeing the CEO's time will result in efficiency and an increase in sales and the Company's profits.