Accounting
Are you considering hiring a finance team or restructuring your existing finance team? Many SMEs and even MNCs are opting to outsource their finance functions, or parts of it.
A full-fledged finance team typically performs two crucial functions—ensuring compliance with regulatory requirements for financial reporting (e.g. Singapore’s Companies Act, ACRA and IRAS requirements), and providing relevant and accurate financial information that facilitates informed decision-making. By performing these functions efficiently, finance teams can add value to the business and help drive its success.
However, outsourcing certain finance functions has become a popular choice for businesses. Outsourcing can provide cost-effective solutions, access to specialised expertise, flexibility, and scalability, allowing businesses to focus on their core competencies while still maintaining compliance and gaining valuable financial insights. Read more on the benefits of finance function outsourcing here.
What can Backbone provide?
At Backbone, we offer a comprehensive range of accounting services that can be customised to meet the unique needs of businesses. Our experienced team of accountants can provide expertise in various finance functions.
Managing finance operations
We can handle various finance operations tasks such as billing, invoice processing, and other day-to-day financial activities to ensure smooth and efficient financial operations.
Bookkeeping and transaction recording
Our experienced team of accountants can take care of bookkeeping, journalising, and transaction recording, ensuring accurate and up-to-date financial records for your business.
Financial statement closing process
We can assist in the financial statement closing process, including reconciliations, adjustments, and preparation of financial statements in compliance with relevant accounting standards.
Compilation/Preparation of financial statements
We can compile or prepare statutory, management, or special-purpose financial statements in accordance with applicable accounting standards and regulatory requirements.
Advisory on financial reporting standards
Our experts can provide guidance and advisory on financial reporting standards, helping your business stay compliant with the latest accounting standards and best practices. We also provide assistance to clients in drafting justification papers on complex accounting issues.
Financial planning and analysis
We can provide financial planning and analysis services to help you make informed decisions based on accurate financial data and insights.
Liaison with auditors
Our team can work closely with auditors on your behalf, facilitating smooth communication and coordination during the audit process.
Why us?
By outsourcing to Backbone, businesses can benefit from cost-effective solutions, access to expertise, scalability, and the ability to focus on their core business while leveraging advanced technology and tools for efficient finance operations.
We believe in providing value-added services to our clients. We begin by thoroughly understanding your requirements and identifying any gaps in your financial processes. Based on this understanding, we tailor a suite of services that best meet your needs. We are mindful of not replacing functions that are better suited or more economical to be performed in-house.
Experience and expertise
Backbone has a team of experienced accountants who are well-versed in business acumen, financial best practices, regulatory requirements, and industry standards. Led by qualified accountants, who bring a wealth of experience in the field of finance and accounting. With a proven track record in managing finance operations, financial reporting, and strategic financial planning, we have the expertise to handle various finance functions.
Customised solutions
Backbone takes the time to understand the specific requirements and gaps of each client before tailoring a suite of services that meet their needs. They are not keen on replacing functions that make more sense or are more economical to be performed in-house in your context, ensuring that the solutions provided are customised and aligned with the client's goals.
Advanced technology and tools
Backbone leverages technology and tools for efficient finance operations. This includes using industry-leading software for bookkeeping, financial reporting, and other finance functions.
Commitment to client success
Backbone is committed to the success of its clients. We work closely with clients, understanding their needs and financial goals, and providing proactive solutions that contribute to their growth and success. Their focus on building long-term relationships and delivering exceptional service sets them apart as a reliable partner for outsourcing finance functions.
