3 reasons why a company hires a finance professional
June 4, 2019 / Libby Barrett
So you’re thinking of studying towards becoming a self-employed bookkeeper or accountant. First things first, is it worth it? Is there enough demand out there? What are the reasons why a company hires a finance professional, rather than looking after the numbers in house?
The good news is that even small companies hire finance professionals to look after their finances. This means there are plenty of potential clients out there, in all sorts of industries.
Here are some of the reasons a company hires a finance professional:
To save money
Paying to hire the services of a professional costs a business more money, surely? On the surface it would appear so. But a good accountant will be able to advise on where to cut costs or make changes to improve the figures. Therefore, anything spent on the expertise of a professional will be recouped in the positive savings they make for a business.
To gain more time
Most companies hire employees in a role in which they specialise – be that sales, marketing, admin or something else. An employee who doesn’t specialise in bookkeeping but has been tasked with the job is therefore wasting time they could be spending on their actual role. A non-expert will invariably take much longer to complete a bookkeeping task than someone who is qualified and accredited. Most companies realise it’s best to trust the finances to the experts! This frees up their employees to do the jobs they’re employed for.
To avoid breaking the law
No-one wants to get on the wrong side of the taxman. The consequences can be fatal for a small business and severely damaging for larger ones. Unpaid monies, fines and harm to reputation are all to be avoided; whatever the size of the organisation. When a company hires a finance professional they remove their fear of breaking the law, however unintentionally. This gives business owners peace of mind that their affairs are in good hands. Of course, as a highly qualified and accredited professional, you’ll have no such worries about getting things wrong, because you’ll have studied with Open Study College and received full tutor support for the duration of your course!
Ready to find out more about becoming a finance professional?
Browse our accounting, bookkeeping and payroll courses, or visit our website for more information.
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