In many startup and emerging businesses, Accounting, Finance, and HR processes are not handled very efficiently. There are several common mistakes in managing the company’s back office needs:
“Under-Kill” – Resources are tight. Founders and early employees are 100% dedicated to their product and customers. Maintaining accounting records, forecasting cash, and basic HR needs become delayed or ignored.
“Over-kill” – The company hires a full-time CFO too early. Much of the CFO’s time becomes occupied by tasks that can be performed by a more cost efficient resource such as a Bookkeeper or Staff Accountant.
“DIY”- The Founder, the brains behind the business, is incredibly organized and performs all of the accounting, finance and HR needs. The problem: The Founder’s time is valuable and better spent focused on marketing, selling, and building products and services.
“Over the Fence” – At the end of the month, accounting data is sent to the Company’s CPA. A few days or weeks later, basic accounting reports are sent back. Fast paced start-ups and emerging businesses need constant customized information and metrics, not just basic historical reports.
How We Are DIFFERENT
Real World Experience. Our partners have first hand experience in building successful business infrastructures. Our backgrounds scale from private self-funded to Fortune 500 companies. We have been Founders, Management Team members, and valuable employees. We have managed our businesses through startup issues, Venture Capital financings, rapid growth, M&A activities, and IPOs.
Our experiences are diverse: Finance, Accounting, Human Resource Management, Sales,Marketing, IT Management, Software Development, Office Administration, Customer Service,Operations. We have built teams and Best Practices to support these functions. We have assembled business infrastructures at incredible speed to hit aggressive growth targets without compromising quality. Our backgrounds provide us with a dynamic understanding of our clients’ needs from a perspective only acquired through direct experience. This is what sets ArcPoint Partners apart from other back office outsourcing firms.
We’re not a “CPA Firm.” CPA Firms are phenomenal for tax and audits. We work very closely with many CPA Firms when our clients need these services. But most likely, the business experience of a CPA Firm is very different from the experience needed by entrepreneurs who power self-funded and privately backed businesses. We don’t operate like a CPA firm. Everything is different about us – our fee structure is different; we are focused solely on your back office tasks; and we are actively involved in your business. We are with you every step, every day.