Is Your Finance Function Built for Change?

As your business grows and evolves, so should your finance team. But here’s a question we think more business owners in Ireland should be asking:

Is your finance function set up to support change, or is it slowing you down?

It’s easy to fall into the traditional mindset of “Do we build this in-house or outsource it?” But in today’s fast-moving business environment, it’s not just about who does the work. It’s about building a finance function that’s flexible, scalable, and aligned with where you’re going, not just where you are today.

Let’s unpack what that means and how the right mix of support (including outsourced services) can make a real difference to your business.

Things move fast. Whether it’s a sudden growth opportunity, a change in tax rules, new hires, or a global curveball, your ability to react quickly can make or break momentum.

But here’s the thing – if your finance processes are clunky or your team is stretched too thin, it’s tough to move fast. You might find yourself spending more time figuring out your numbers than acting on them.

That’s where the structure of your finance function matters.

There’s no one-size-fits-all answer. Every business has different needs, goals, and internal capabilities. Here’s a quick look at the pros and cons of each approach to help you get a clearer picture.

In-House Finance Teams

In-house teams offer continuity, close collaboration, and a deep understanding of how your business operates.

Why it works:

• Your team is right there when you need them
• They’re embedded in your culture and systems
• Useful for larger businesses or those in regulated industries

But keep in mind:

• Hiring and retaining skilled finance staff can be tough (and expensive)
• Scaling the team takes time
• You might become too reliant on key individuals

Outsourced Finance Support

Outsourcing doesn’t mean giving everything away – it means getting the right expertise when you need it without taking on extra overhead.

Why it works:

• Flexible support that grows with you
• Access to specialists (payroll, reporting, tax) without hiring full-time
• Less admin and people management
• Often more cost-effective, especially for smaller or growing businesses

Potential challenges:

• You’ll need to set up clear communication and expectations
• It may take a little time to build trust and integration with your wider team

This is where we see many businesses landing – a core in-house finance contact supported by an outsourced provider for specialist tasks, such as payroll, management accounting, or strategic input.

It’s practical, scalable, and helps keep your team focused on what they do best, while bringing in outside help when needed.

Questions Worth Asking

If you’re not sure whether your current setup is still the right fit, here are a few helpful questions to think about:

Can we move quickly when things change?

• If you had to hire fast, expand, or cut costs tomorrow – could your finance function handle it?

Are we getting the insights we need?

• Do your reports help you make decisions? Or are they just “tick the box” exercises?

Do we have the right skills on hand?

• Could you tap into expert advice on tax, cash flow forecasting, or systems if needed?

Are we spending too much time on the wrong tasks?

• Is your team buried in admin when they could be adding strategic value?

At the end of the day, this isn’t about outsourcing for the sake of it. It’s about building a finance function that’s ready for what’s next – whether that’s growth, change, investment, or simply less stress on your team.

If you’re feeling unsure about your current setup or have reached a point where finance is becoming a bottleneck instead of a support system, it might be time to discuss.