Why Outsourcing Your Financial Services is a Smart Move

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Growing brands face many challenging decisions.  

Outsourcing marketing functions or building an in-house team for their content strategy may be a part of the equation, but for many of these companies, they face difficult issues concerning their financial services. 

Most current solutions offer sub-optimal options at best: part-time consultants with high turnover and little incentive to operate efficiently, or in-house professionals who are often under-qualified and overpaid.

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Finance professionals are responsible for some of the most important things a growing business will face, too. Whether that’s raising a new round of financing, building a financial model or keeping clean books, your business can’t afford to get these critical things wrong or have to start over with a replacement.

Thankfully, there’s a third option for growing companies: an outsourced professional service that offers experience and expertise alongside flexibility and value. Experienced partners, like those at Nomad Financial and Propeller Industries, offer growing brands 3 reasons why they should outsource financial services to a third-party as they scale: 

1. They Have a Wealth of Experience

The best outsourced financial service providers have worked with clients of all industries and business models. 

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This means they’ve tested, proven and standardized financial processes and can seamlessly apply their learnings to your business. Not to mention, if they happen to run into as problems, they mitigate issues a lot better than most candidates. For example, Nomad Financial offers a three-step approach leveraging accounting, tax, and CFO and Advisory services to offer clients structure to their company that allows them to scale faster. 

With dozens, if not hundreds, of experienced professionals under one roof, they’ll be able to solve problems faster and better than a single in-house CFO.

2. You Have Access to the Latest Tools and Technology

Outsourced providers of all kinds have access to both proprietary and paid-for enterprise-level tools and technologies that allow them to identify trends and solve problems quickly. 

Growing companies simply don’t have the time or resources to build or access these resources. With a partner like Propeller Industries, companies can access the latest aggregation, visualization, and automation tools to see what areas of the business are under-performing in real-time.

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These providers have tested the newest industry trends to see what works and, more importantly, what works specifically for you. Whether you specialize in eCommerce or Food & Beverage, they have troves of data to help you increase your standing and advance on competitors. 

3. They are Highly Versatile and Affordable

Emerging companies have a multitude of financial needs with different workflows and skillsets.

Financial service providers offer versatile professionals with different specialties to meet any level of need, from basic bookkeeping to CFO-level leadership. Plus, these professionals come at a much lower cost than hiring a full-time equivalent due to a fractional team model.

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Aside from saving money on high salaries, an outsourced provider allows you to save on HR oversight, software maintenance and spending, as well as overall budgeting since additional outsourced accountants may incur a monthly charge. 

The bottom line is that you can focus more attention on driving leads, rather than worrying about where your budgets are disappearing to. As a leader and outsourced CMO ourselves, Hawke Media has vetted several financial service providers that we trust for any company looking to scale their operations. Here’s a list of our favorites: 

Hawke’s Vetted Choices You Should Know

When it comes to finding the best, here are a few services we recommend:

Propeller Industries

Propeller Industries is a team of experienced finance and operations executives, entrepreneurs, and accountants providing outsourced financial management for early-stage startups. 

Propellerindustries.com


They’ve provided financial services to help scale world-class startups like Casper, Away, and The Sill.

With expertise in a wide array of industries, robust analysis and reporting, a fractional team model that addresses a variety of needs, and cost-effective pricing with no monthly minimums or long-term contracts, Propeller is a one-stop-shop for outsourced professional services.

Brex

Another company helping startups and online sellers with financing is Brex.

Brex


They offer interest-free corporate cards with up to a 60-day float and no personal liabilities. Backed by PayPal alums, Brex automates expense management and allows customers to earn rewards points with multipliers in key spend categories that companies can redeem for offers, travel or statement credit.

Nomad Financial

Nomad Financial delivers a complete tailored finance solution for leading VC-backed and PE-owned companies across accounting, tax, interim CFO, people ops, and advisory services.

Nomad Financial


They’ve worked with the most innovative brands and companies in the world, from startups like Thinx, Felix Gray, and Momofuku Milk Bar, to companies as large as Ford Models, UPS, and Gant. Through their customizable, lightweight model, they serve as a flexible finance partner for companies as they grow and look to build robust, scalable financial operations for the long-term.

Most of all, they help companies navigate the complexity of balancing full-time finance department hiring needs while simultaneously supporting processes that provide a better ROI to remain outsourced. 

Clearbanc

Clearbanc is an eCommerce-specialized firm that provides non-dilutive capital to help scale up repeatable areas of your business. 

Clearbanc

Founded with the mission of providing growth capital for online-enabled businesses, they use actual business data to initiate growth instead of judging you by a personal credit score. They also believe that selling equity to buy Facebook and Google ads is a bad deal for startups. That’s why they have built an alternative for fast-growing businesses that generate consistent revenue from their marketing spend. 

In fact, Frasier Sterling is among its impressive list of eCommerce brands benefiting from founder-friendly access to capital.

As a preferred agency partner, Hawke Media clients interested in working with Clearbanc get exclusive access to preferred rates.

Outsource Your Finances and Plan for the Future

You have plenty of options to choose from when it comes to bolstering your company’s financial position.

With this list of vetted finance partner from Hawke Media, you can outsource your finances and rebuild your strategies the right way. Don’t waste time in the present losing capital and wasting time. Instead, hire professionals who know what they’re doing and plan for the future.