Almost everybody knows what SAAS is – Software As A Service. With the advent of the cloud on the internet, software vendors are moving to the subscription based billing and providing their software as a consumption model on a pay as you use basis. There are obvious benefits for both the software vendor and the user/customer – one single code base, always updated software, no need to maintain and manager your own servers and apply upgrade patches.
The cloud has also brought about changes to finance teams around the world. Cloud based accounting services are now reducing manual data entry via Artificial Intelligence (AI) tools, Robotic Process Automation (RPA) and accounting systems offer modules as a plug and play feature. Instead of complex ERP systems which is time and labor intensive to implement, you can now subscribe to a basic General Ledger cloud accounting package and then add-on various features and tools you need for your business.
These developments are amazing and the benefits are trickling down to Startups and SMEs in terms of finance efficiency and transaction processing speed, but most businesses still find it difficult to interpret the numbers, model different scenarios for their business, prepare proper forecasts, or run valuation models when working with potential investors.
The good news is that in line with the SAAS software model, you can also get experienced Finance Consultants, CFOs on Demand or Virtual CFOs on a FAAS basis (Finance As A Service). Whether you are looking for help in Investor Relations or building a business model, from analyzing your business model to projecting cash flows, Finance As A Service is something that most startups and SMEs should consider to supplement their existing outsourced accounting teams or in-house teams with part time resources available at a fraction of the cost of hiring someone full time. Hiring a CFO on Demand is much more affordable on a per hour basis than hiring a full time CFO that may not be fully occupied.
Ezee Pte. Ltd. provides CFO on Demand, Virtual CFOs and the wider Finance As A Service which includes transaction processing, reporting and analysis, and other value added services on a part-time or pay as you use basis. Dial A Financial Controller or Dial A Financial Analyst is a service that is closer than you think. Call us today for a no-obligation discussion and find out how FAAS can benefit your business.