By engaging a qualified and experienced accountant and chief financial officer (CFO), business owners can enjoy huge benefits of:
- Reduced spending by reducing unnecessary expenses such as interest, penalties, wastage, goods return and others
- Tax minimisation through proper planning and taking advantage of government incentives
- Profit improvement by eliminating unhealthy business units or product line
- Cash flow enhancement by improved collection process
- Reduce mistakes and irregularities by designing and strengthening internal control systems, company policies & procedures
- Plan and align the business model with updated and accurate financial information
Business owners should only engage with reputable accounting firms for their “Outsource CFO” to efficiently manage financial systems, people & technology infrastructure.
Recent Job Seeker reports indicate a high demand for qualified and experienced accountants in Malaysia. Furthermore, hiring a full-time financial executive is not feasible for most businesses. Experienced full-time accountants or CFO are expensive, with monthly salaries ranging from RM 8,000 to RM 15,000.
Usually, only large companies can afford a qualified CFO, given that recruiting an experienced CFO is not easy and costs too much for a growing company.
But that all changes when you outsource your CFO work.