T 0191 378 0308 | E switch@switchaccountants.co.uk | A Offices in Newcastle, Durham and Tees Valley

Virtual Finance Director

An effective and value-adding finance department – led by a dynamic Finance Director – is a powerful competitive advantage in today’s business world.

Is your finance department/ director providing you with a competitive advantage; giving you an edge over our competitors? Or if you don’t have a finance department/ director, would you like to gain such this edge?

If you haven’t already got a finance department/ director, our outsource solution will help you to develop your business and grow your profits through strategic accounting, while also taking care of your financial matters, both operational and compliance issues.

If you do have an existing department/director, in a great many cases our solution can add significantly more value to your business while invariably costing you less.
We know that replacing an internal department with an external solution is a major business decision – but a decision worth making? We can work with you to plan and implement this change, phasing out staffing within an agreed timescale, without any disruption to business services.

How does the solution work? Each solution is tailor-made, designed to suit your exact business requirements, but in essence all of our solutions work in three levels…


Level One – Your Own Finance Department

In essence, the first level means that you will never have to worry about financial administration or management again.

All you have to do is collect your financial documents – and then send these to us (or we’ll send a courier to collect) every day, week or month. We’ll do the rest from our end.

We will do all of your bookkeeping and record keeping, manage your payroll, complete your VAT returns and such like. We can make supplier and other payments or produce a list of supplier/ other payments due for you to pay your end. We can also produce your invoices and provide credit control services. Equally we can administer purchase/ sale order procedures and provide the necessary liaison between relevant departments/staff. We can help you with any other financial aspects should you like us to.

We will produce financial reports in terms of sales/ purchases etc on a daily, weekly or month basis – sent to the relevant individual/ department in an agreed format.

Where necessary, we can provide a bespoke telephone line for your company (your finance department number) for use by suppliers and staff. You will have a single dedicated contact for operational, compliance and payroll issues – who will be available throughout the day to respond to queries and provide information.


Level Two – Finance Department With Accounts & Your Own Tax Plan

As part of the solution, we will prepare your year-end statutory accounts and tax returns. We will also create a bespoke tax plan for you, which means that we will closely monitor the director(s) remuneration to ensure the most optimal method of profit extraction is followed. The aim here is to maximise your business and personal wealth – allowing you to keep more of what you make.


Level Three – Your Own Finance Director

You will have your own dedicated Finance Director, who will manage your finance department but more importantly be available to provide expert analysis and invaluable input into your business.

You will meet with your Finance Director for regular business growth consultations, which are designed to be at Board level – giving you all the benefits of a Finance Director, just at a fraction of the price.

These sessions will focus mainly on developing your business, working on a number of areas in which to make improvements, overcome problems and exploit opportunities. Just some of the topics covered might be strategies relating to: your product range/ services, your client base, your team, your costs, your pricing, your volume of sales, new business opportunities, your 80/20, marketing activities, and so on.

During the consultations, your Finance Director and you will also review developments and changes in the business. Each meeting will be assisted by a management accounts report, including bespoke reports such as bench-marking, key performance indicators and forecasting.

The first stage once you start working with your Finance Director is to hold a half- or full-day company alignment session, in which we map out the company’s short-, medium- and long-term goals and plot the course from here to achieving these goals.

Of course, your Director and their team will always be available for ad hoc meetings, telephone calls or e-mails, should you ever need to discuss a matter with them, however big or small.

If you would like meet us to discuss what we can offer to you and your company, contact us via the form at the bottom of the page.


Benefits of Level One – Your Own Finance Department

  • We take care of all financial activities such as (where necessary) bookkeeping, payroll, VAT returns, invoicing, credit control, purchase/ sales orders, supplier payments. Includes a dedicated contact for any queries or information requests. We can also set up a dedicated finance department phone line for your company.


Benefits of Level Two – Finance Department With Accounts & Your Own Tax Plan

  • We will prepare and complete the year end accounts and more importantly provide a bespoke tax plan aimed meaning that you will pay as little tax as is legally necessary.


Benefits of Level Three – Your Own Finance Director

  • You will have your own dedicated Finance Director with whom you will meet regularly for consultations, with business development and growth at its core. The consultations will also include the review of key financial updates, review of goals and progress, focus on key topics as and when they surface, plus a monthly management accounts report will be produced.


Our Developmental Process

Below we summarise our approach to clients who take up this service.

  • Before we do anything, we’ll first take the time to listen to you and learn about your business – your ambitious, your ideas, your frustrations and your problems.  The more we know about you and your business, the more we can help you.
  • We’ll then use our professional expertise and hard-earned, real-world business experience to focus on proactively growing your business by exploiting opportunities and overcoming problems; offering practical strategies and down-to-earth solutions to achieve continuous, sustainable business growth.
  • We follow our unique and proven, 6 step business growth system (find out more on the Business DNATM system page).  This system means we can give you tried and tested strategies for getting more sales, more customers, more cash and more profit into your business.  The system helps you to develop a robust cash flow and credit control system and put in place practical business systems and winning business teams.
  • We’re known for being extremely positive, supportive and enthusiastic – but we’re also realistic and plain-speaking, meaning that we’ll tell you the truth, not just what you want to hear. If you want us to, we can give you a bit of a kick in the right direction every now and then, to keep you on track (we know sometimes that you’ve got all the right ideas, you just need some help keeping focused and motivated)
  • We’ll roll up our sleeves and work with you to deliver the ideas and solutions that we develop together. We’re very confident in the advice we give and we’ll work with you in the long-term to make it happen.
  • We’ll optimise your tax planning and thus reduce your tax bill by as much as is legally possible. We’ll provide a free tax review EVERY year by a tax expert to ensure we optimise your tax planning.
  • We’ll give you a set of accounts that you actually understand and that add real value to your business.  We can take away any of the painful, worrying or time-consuming (or just boring) accounting tasks such as book-keeping and payroll so that you can focus on what you do best; running your business.
  • We’ll give you a dynamic, confident and plain-speaking accountant who takes a genuine interest in you and your business. Your accountant will be accessible, approachable and available to help and support you throughout the year; not just once a year.

Ask yourself, are you ready to take your business to the next level?


How To Find Out More

If you would like to discuss anything you have read on this page or if you would like to discuss how we can help you and your business, then please get in touch.

You can do this by completing the form below (scroll down to the end of the page and look on the right hand side), calling us during office hours on 0845 658 6949 or sending an e-mail to switch@switchaccountants.co.uk


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