SME Solutions

SME's

SME’s finance function through their CFO, COO or CEO are facing unique challanges.

1. How To Not Get Left Behind With The Digitalisation Of the Finance Function

As a leader of the business 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. Most Controllers have little appreciation of the coming changes or whats required to put in place. Add to this that digitisation brings cost savings then your current team has a conflict of interest to buy into the process

2. Remote Team Challenges

Whether managers like it or not Work From Home is here to stay in one form or another. Business leaders will demand lower costs from reduced office space and the talent that you really want to hire wants the WFH lifestyle flexibility. This requires a completely different approach, a more complex more time consuming approach, to team management and new employee onboarding. A real challenge for SME’s without full service HR departments.

3. Pressure to Cut 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. The finance function being no exception

The Solution

Synecoe can provide the solution. Outsource your finance function and take away the day to day team management. 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 singapore based shared  centre of excellence you get an efficient route to digitisation and a reduction in your day to day finance function running costs. 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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