For a company setting up in the United States, outsourcing the accounting and financial function offers many advantages: securing accounting and payroll management within the standards, access to excellent legal, tax and social consulting expertise, and consequently optimization of its business development activities.

➔ ORCOM US provides outsourced management of all or part of the financial management of French and international groups and their subsidiaries in the United States (tax, accounting, consolidation).

By delegating your accounting and social functions to ORCOM US, you benefit from a global outsourcing offer that goes from the domiciliation of your structure to the establishment of payrolls.

DOMICILIATION

  • Providing an address and an office
  • Receiving mail and customer checks
  • Mail transmission in France by e-mail after scanning

SALES

  • Issuance and mailing of sales invoices
  • Checks deposit in the bank
  • Reporting on the evolution of the customer portfolio to the head office
  • Invoicing / Client follow-up
  • Permanent cash position

PAYROLL

  • Commission calculation
  • Payroll coordination with external organization according to the chosen frequency (semi-monthly, monthly…)

HUMAN RESOURCES

  • Coordination of medical insurance
  • Advice on Company Policies (internal operating rules of the local structure)

EXPENSES

  • Receipt of supplier invoices
  • Transmission of the scanned invoices to the head office
  • Request for payment authorization (or direct debit)
  • Issuance of payment with (or without) delegation of signature on bank accounts

INVENTORY

  • Computerized follow-up of the inventory
  • Inventory reconciliation

FINANCE DEPARTMENT ORGANIZATION:

ORCOM US acts as CFO and relies on an internal team / assistant.

Part-time CFO’s scope of action:

  • Train the people in the finance department, define and supervise their work
  • Produce reports, summary performance indicators and financial analyses for management
  • Ensure, if necessary, the financial management of the company during a preliminary mission of 1 or 2 months.

The approach suggested by ORCOM US is to work in pairs with the CFO

➔ ORCOM US – Internal company assistant

This choice of organization has the following advantages for the company:

  • Independence in the daily management of the finance department
  • Skills transfer to the assistant finance director
  • Optimizing the intervention of the financial director

➔ ORCOM US – intervention only on high value-added tasks

Finance Department Management:

The finance department is managed in pairs with the executive (or assistant executive) or operational manager and ORCOM US, who acts as functional manager. This dual management – and its inclusion in the organizational chart – is important to ensure the legitimacy of the finance department. During the first interventions, sufficient time must be given to the team to train them and to get them used to the new organization. As the presence of the external CFO in the office is rare, creating a bond of trust between the team and the external CFO from the outset is essential.

The roles of the ORCOM US CFO as a functional leader:

  • Definition of the scope / procedures of each member of the finance department
  • Training in the concepts / tables used for the financial management of the company
  • Control of tasks performed / correction
  • Quarterly maintenance

If the finance department is composed of several members, the ORCOM US CFO will rely on an internal assistant. For all technical questions, employees can ask the ORCOM US CFO directly (email, phone).

GENERATE REPORTS AND PERFORMANCE INDICATORS, AND CARRY OUT FINANCIAL ANALYSIS

The second role of the ORCOM US CFO is to generate reports for management that provide an overview of the company’s health and performance indicators that allow for the evaluation of possible development paths.

The summary tables are done by the ORCOM US CFO for the following reasons:

  • Verification – Consolidation and correction of tables managed by the finance department
  • Management of confidential information: integration of salary costs, margin calculations, etc.
  • Computer and financial skills: the production of summary tables requires both proficiency in IT tools and a clear vision of the objectives of the summary

The objective of the performance indicators – illustrated with graphs – is to provide the manager with the only relevant information before making a decision: overall health of the company, cash flow, margins by project, variable and fixed costs of the company by expense item, etc.

These documents, combined with the financial analysis of ORCOM US – your privileged contact – provide an outside view of the health and evolution of your company.
Developing an adapted financial management – The implementation of an external financial management often implies a complete overhaul of the company’s financial management and the development of a solution adapted to its needs. This groundwork is done early in the collaboration via a one or two month mission – a phase of getting to know the company and its players, developing customized tools and integrating the ORCOM US CFO. The preferred software is Excel as it adapts to the needs of a large number of SMEs. The implementation of an integrated management software package can also be studied.