CFO Solutions

CFO

Our research shows that todays CFO’s face three material issues

1. How To Implement Digital Solutions With the Current Finance Team

As the CFO you see the benefit of the digital approach but cannot see how to implement given the lack of re-engineering and software development talent within your current team. Add to this that digitisation brings cost savings then the current team has a conflict of interest to buy into the process

2. Lack of Time Available for Business Partnering

As a CFO you want to be the finance partner that brings value throughout the business. working on better financing, M&A, pricing structures, strategy modelling, whatever it may be that your business and colleagues need from an engaged CFO. But how much time do you spend doing that? How much time is spent on personnel issues, day to day employee management (now remote employee management!), hiring, firing and coaching. Looking for better talent?

3. Pressure to Cut Finance Function Costs

The pre-covid economy is not coming back anytime soon even once covid restrictions are lifted. Times will continue to be tight and most companies are applying pressure to all functions to cut costs. As the CFO you need to lead by example and reduce the cost of your function

The Solution

Synecoe can provide the solution. Outsource your finance function, take away the day to day management and manage one relationship with us where you decide on all the deliverables. We then run the talent, the processes and the journey to digitalisation.

With our shared singapore based centre of excellence you get better results based on a digitalised approach, reduced costs and the time to be the value adding CFO that you want to be. Click here to start your journey.

Our Services

Synecoe Offers a Full Service Outsourced Finance Function

REPORTING

  • Management reporting
  • Forecasts
  • On demand dashboards
  • Financial statements
  • Foreign subsidiary accounts

MONTH END

  • Month end closing to tight deadlines
  • Daily G/L entries
  • Accruals and prepayments
  • Bank reconciliations
  • Full balance sheet rec.

COMPLIANCE

  • Local regulation and tax compliance
  • Audit liaison
  • Full segregation of duties
  • Stringent payment controls
  • Foreign subsidiary compliance

CASH OPTIMISATION

  • Accounts Receivable processing
  • Accounts Payable processing
  • FX hedging
  • Trade finance submissions
  • Cash flow reporting

CFO SERVICES

  • Reporting to shareholders/investors
  • Representation to banks/financiers
  • M&A support
  • Strategy support amd modelling
  • C-Suite partnering
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client benefits

LEVERAGE DIGITAL

  • Synecoe stay at the forefront of digital developments bringing:
  • Automation
  • Business Intelligence reporting
  • Cloud based microservices
  • AI integration

COST SAVING

  • Estimated savings 40% of your current finance team spend
  • Benefit from a shared cost centre of excellence
  • Transfer programmable tasks to nearshored low cost transaction processing centre of excellence

NO TEAM MANAGEMENT

  • No day to day (remote) team management
  • You have one relationship with synecoe
  • No on boarding, no firing
  • You are freed up to run the business not the finance function

CLIENT SET DELIVERABLES

  • Client establishes all deliverables
  • Client receivables daily dashboard of synecoe performance
  • Synecoe will employ a number of your key staff for continuity
  • Dedicated locally based Account Manager

SYSTEM FLEXIBILITY

  • Synecoe will take over your existing systems
  • Or can provide our own ERP solution
  • Cloud based or on site
  • Centre of excellence security

FAQ’s

Q. Your team won’t understand my business. I’ll spend more time explaining things than I’ll save.

A. We typically take a number of your key finance staff onto our payroll and integrate them into our Centre of Excellence to provide understanding and continuity

A. Each business has its own complexities but the vast majority of transactions and processes are similar. We look to take these commoditised processes. If there is a specialised function that clients dont feel comfortable outsourcing then this can be excluded and stay in house, although we believe that once you see the benefits from outsourcing to us you will subsequent hand all processes over.

A. The initial handover will be managed by one of our senior consultants. These are highly experienced ex CFO’s with the intelligence and knowledge to just “get it”

Q. Finance is a strategic function. I need it in house to ensure continuity.

A. Synecoe’s sole business is to provide an out sourced finance function. This gives us total motivation to be your long term business partner and ensure you’d never go back to inhouse.

A. Our contracts require us to give a minimum of six months notice to any client and provide all reasonable assistance in any handover. This gives more than enough time to bring the function back in house. Clients are only required to give 3 months notice and the same level of handover responsibility is required.

Q. Doesn’t your cost saving model mean we have to lay people off

A. Yes unfortunately that is the case. But we will take your best people in house and  integrate them into the Synecoe team. With the incoming technological advances particularly regarding automation and real time reporting those job cuts are coming whether you instigate or your competition gets a competitive advantage by moving first. Better to get ahead of the curve and be the most efficient you can be to safeguard the strength of your operations

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