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Outsourced CFO Services

Like an in-house corporate CFO, an ou stsourced CFO provides high level financial and systems analysis, helps the management team understand the Company’s financial position, and provide actionable data that is in alignment with the strategy and direction of the company. Some popular challenges that an outsourced CFO can help resolve are, but not limited to, cash flow analysis, cash flow forecast, vital numbers and key metrics identification, and the measurement and tracking of the company’s financial performance.

 

Unlike an in-house corporate CFO, an outsourced CFO is a lot more feasible to bring into the ranks for an entrepreneurial business that is doing between $1 million to $20 million in revenue. While most in-house corporate CFO are used to the stability and structure of a large corporation, the new breed of outsourced CFOs are a lot more adapt to the fast-moving nature of small entrepreneurial businesses. An outsourced CFO typically share their expertise across a few small businesses; allowing them to learn and adapt at an accelerated rate, all the while reducing the burden of their salary by spreading it across a few clients.

The cost of hiring a full-time in-house CFO can cost anywhere between $180,000 to $350,000 before taxes, benefits, and training. An outsourced CFO typically cost less than $100,000 per year, a fraction of what it used to cost to bring on an in-house CFO.

 

DeepSky’s Outsourced CFO Service provides a more compatible relationship at just around $1700 per week (less than $89,000 per year.) That’s at least 49% of the cost when compared to an in-house CFO. 

 

All of DeepSky’s Outsourced CFO Services are priced upfront so there are no surprises at the end of each period. We spend a considerable amount of time to understand the financial needs of your business, your top of mind concerns, and the strategic direction of your business so that we can align your outsourced CFO’s efforts with it. 

An outsourced CFO’s job goes beyond the accounting department. They are really the financial liaison to the rest of the company. An outsourced CFO’s primary job is to align the financial operations with the company (CEO’s) strategic directions, analyze and communicate the financial finding of its accounting department, and hold the rest of the company accountable to their respective vital numbers and key metrics.

 

Typical outsourced CFO responsibilities include (but are not limited to): financial strategy, cashflow forecasting, department performance analysis, efforts vs financial results analysis, financial systems and processes design and build, vital numbers dashboard building, interpreting financial reports and schedules, cost analysis, revenue analysis, etc.

 

Some tasks that are better suited for a traditional in-house CFO are these: merger and acquisition, dealing with financial audits with an outside CPA firm, negotiating with banks and other financial institutes, capital structure, and fundraising.  

Outsourced Accounting Services

To accelerate the process, we create an inbox to receive files such as invoices, modification of bills, purchase order, or other inquiries. You can simply send to [email protected], where these requests will be automatically picked up and processed in 24 hour turnaround time. For some complex inquiries that need more time to process, we will give you an update within 24 hours.

We process bills/invoices on a daily basis, so you can expect the bill/invoices be set up in system within 24 hours. We’ll also send out a reminder for the next 2-weeks bills, so you can anticipate the cash outflow without any surprise.

It’ll take up to an additional 7 days for payment to be received due to the USPS delivery schedule.
In fact, you should never have the same people do your book and hold your treasury function. This would give them full access to move your company without your notice.We also shot a video about this topic, check it out #here
We’ll create an invoice sheet with you, where you can fill out all the required information. Once we have the information, we’ll continue to issue the invoices in 24 hours.
Yes. You can send all receipts to [email protected], and we will continue to issue the reimbursement invoice.
We will daily apply payments on outstanding invoices in the invoice system, so anyone who has the access to the system can see the status of all the invoices. We can also provide a weekly AR report, so you can keep track of unpaid customer invoices.
We need invoice number, brief reason, and supporting documentation. All these can be done via email. And this is all we need to complete the process!
Yes. Our services include set up both B2B reimbursement process and company employee reimbursement process. After setting up the system, your can approve within reimbursement within it, and we will process it on monthly basis.

Accounting Process Outsourcing

That’s what DeepSky’s Outsourced Accounting Services team are for. We’ve hired and trained some pretty badass accounting ninjas and experienced controllers during the last 10 years, and they are here at your disposal.

Whether you’re in the market for just CFO advisory services or in need of a full fledged accounting team, we have the right experts who are ready to help.
We process bills/invoices on a daily basis, so you can expect the bill/invoices be set up in system within 24 hours. We’ll also send out a reminder for the next 2-weeks bills, so you can anticipate the cash outflow without any surprise.
While DeepSky is equipped to help most companies in the $1 – $10MM range, we have the most experience with service-based companies like digital agencies, law firms, media companies, and management consulting companies where labor makes up of the primary costs of the business.
At DeepSky, we provide entrepreneurs with financial literacy and accounting services to facilitate exponential growth.

In the past 10 years, we’ve established a track record of picking up companies in the $2-3MM revenue range. A stage of growth that we’ve found many companies stuck in, where they are big enough to face some real challenges but too small to throw obscene amounts of money at its problem. What got them there wasn’t going to get them where they want to go.

This is where DeepSky is able to provide CFO level expertise at a fraction of the traditional in-house costs; taking the company through and out the other side of profitability.

How to Work with DeepSky

We connect your bank and accounts to DeepSky for seamless data transfer. So, for the most part, we’ll have all of the transaction information we need to manage your books. There are some times that we’ll request documents from you such as POs/Invoices, etc., as a second verification to ensure the information we have is correct. Please send to [email protected], and our team will take care of the rest.
To be able to process your requests effectively. Notifications or files that don’t need to our response such as purchase order forwarding, reports, regular receipts should be sent to [email protected], where we will process this type of inquiries on a daily basis.

Aside from that inquiries that needs our response such as modification of bills, invoices, purchase order, and other requests should be sent to [email protected], where we will respond to your requests in a timely manner.