FAQ’s
Q. What about the confidentiality of my finance data? I dont feel comfortable giving all of that to a third party
A. Synecoe staff are all vetted for their integrity and have to sign a stringent NDA as part of their employment contract. This gives more protection than you have from your current employees
A. You already share all your finance data with auditors, software consultants, tax advisors etc. Synecoe holds itself to the highest standards of these organisations.
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. All systems, data and documented processes remain under proprietary ownership of the client, so bringing back in house only involves staff contracting and training. 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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