December 9, 2022

Let’s set the scene. A privately held company’s longtime controller gives notice. With only one other accounting person on staff, the owner is left scrambling for a fix until a new controller can be hired.

The owner reviews the job responsibilities and realizes 80% of the controller’s work consisted of staff-level tasks, so he quickly finds two people with the right skills to tackle these functions — by bringing in outsourced accounting professionals to do the job.

Fast forward seven years, and the company has grown from a $5 million business to a $25 million business. The original outsourcing support team remains, but has grown to four people … and they never hired a full-time controller to replace the one who left years ago.

What would you do in that situation? And how do you know if outsourced finance and accounting services are right for you?