21.03.2019 Event: CEO of the company “Finance Solutions Group” Lyubov Tsymbal spoke at the 3rd Forum of Financial Leaders, traditionally organized by VlasConference
Lyubov Tsymbal raised such an important business topic as approaches to determining the optimal number of employees in the financial service.
The main focus of the presentation was on the service business model, in which the financial department should recognize that it is a service unit, and therefore provides services for internal business generating units.
Accordingly, it is necessary to determine the list of services / products that are necessary for the business and for which it is willing to pay. It is also important to calculate the time spent on each individual product or service, determine the cost of the service / product on the market and coordinate with the business. In this case, the question of determining the size of the financial department will be solved by itself.
“Either we are in the market or not. If not, then we need to work on the internal efficiency of business processes in the financial department. Moreover, we live in the period of digitalization, and the accountant profession may disappear as such in the near future. If the outsourcing market today can offer more favorable conditions, it means that you need to switch to the outsourcing. Nothing personal, only business, and accountants need to relearn themselves and become experts in financial analysis, fundraising, and tax planning. In other words – to master those professions for which the business is ready to pay. Finally, also, as in every service / product, there must be an end result and an opportunity to assess the quality, “Lyubov Tsymbal shared with the participants of the Forum of Financial Leaders.