Critical to review your processes and your AI technology now

As your business grows, you need accurate and up-to-date financial information on a day-to-day basis.  But what happens when your company’s finance department’s processes and technology are outdated?

When you make decisions on inaccurate financial data, this can lead to missed opportunities, strategies that do not align with the company’s financial reality, cash flow issues and operational challenges. In addition, if you have no written processes, an absent employee can be a detriment to the company.

If any of this sounds familiar, you’re not alone. Many business owners find themselves asking these questions and having the same concerns. The company does not want to rely on outsourcing but wants to keep this in-house.

Let’s discuss how to assess your current accounting functions, and why doing it now matters.

What are the signs your accounting department needs help?

You might not realize how much your finance team is struggling until you see the following concerns

  • Financial reports are late, inconsistent or unclear
  • You don’t trust your numbers enough to make big decisions
  • Only one person knows how the systems work (and they might retire soon or will be out of the office for an extended time)
  • Your team spends too much time on manual tasks and fixing errors
  • There’s no formal documentation for key processes
  • You’ve outgrown your systems but haven’t upgraded yet

If any of these sounds familiar, it’s time for a closer look. These aren’t just operational hiccups, they’re risks to the long-term health and scalability of your business.

How do you evaluate your finance department?

A finance department needs these three pillars:

  1. Processes – Are your workflows efficient, documented and repeatable?
  2. People – Are your team members in roles that align with their skills and responsibilities?
  3. Technology – Are your tools integrated, scalable and suited to the complexity of your business?

At Adams Brown, we often start with what we call a Transitional Assessment. It’s a structured internal review of these three pillars. The goal? To identify what’s working, what’s outdated and what needs to evolve so your team can support future growth.

This kind of assessment isn’t about outsourcing your finance functions. It’s about building a roadmap for your business on your terms, your timeline, and what works best for the company.

What does a Transitional Assessment include?

When we review finance processes, we’re not looking for perfection; we’re looking for consistency, clarity and scalability.  We look at processes that will benefit your current structure.

We commonly ask:

  • Are tasks like month-end close, invoicing and budgeting happening on a predictable schedule?
  • Are there documented procedures or is everyone doing things their own way?
  • Are there unnecessary steps or duplicated efforts?
  • Can these processes be automated or streamlined?
  • What apps and software are you using and those areas that are automated?

You might be surprised at how much time your team is spending on low-value work that could be eliminated with a small change.

How do you know if you have the right accounting team?

Even the best employees can struggle if they’re placed in the wrong roles or lack the tools and support to succeed.

Part of the Transitional Assessment involves evaluating whether:

  • Responsibilities are clearly defined or if everyone is “wearing all the hats”
  • Team members are working within their skill sets or constantly improvising
  • The structure supports future growth or is held together by institutional knowledge
  • Education is provided to employees to enhance their skills

Sometimes a few simple changes such as redefining job duties, outsourcing a task like payroll or moving reporting responsibilities, can lift the pressure and boost performance.

What technology should your accounting team be using?

The right tech stack can make or break a finance department. If you’re still relying on Excel for everything or running disconnected systems, you’re setting your team up for inefficiencies.

Questions to ask:

  • Are your systems integrated, or are you moving data between platforms manually?
  • Do you have real-time access to key financial metrics?
  • Can your current tools grow with your business or are you already pushing their limits?
  • What are you doing to evaluate the technology and AI in the marketplace?

Today’s accounting technology isn’t just about saving time. It enables faster, better decision-making. And with the rise of cloud platforms and AI-driven tools, businesses that modernize early gain a real edge.

Why should you assess your finance department now?

Many business owners wait until something breaks, a resignation, a system failure or an audit issue before reevaluating their finance setup. By then, you’re making decisions under pressure.

Assessing your finance department before you’re in a crisis gives you options. You can be strategic instead of reactive. You can prioritize upgrades and plan transitions. And you can reduce the risk of costly errors, burnout or turnover.

Plus, the accounting world for your business is changing fast. Clerical accounting tasks are increasingly being automated. The demand for real-time insights is rising. And the cost of falling behind, both operationally and competitively, is higher than ever.

When is it time for outside help?

You don’t have to outsource your entire finance department to get help. Many companies benefit from outside support in specific areas:

  • Controllership or CFO advisory services for financial strategy and oversight
  • Technology selection and implementation to help choose and roll out the right software
  • Process optimization to streamline internal workflows
  • Succession or transition planning for key finance roles

Whether you want to take the first step toward outsourcing, or simply improve what you already have, an external perspective can provide clarity and direction.

What happens after a finance function review?

At the end of a Transitional Assessment, you’ll receive a tailored roadmap showing:

  • Where your current setup supports your goals and where it doesn’t
  • Practical, prioritized recommendations for your specific business needs (not a laundry list)
  • Guidance on what to handle in-house, and what to consider outsourcing
  • Potential tools or technology to reduce costs and improve visibility

Many clients are surprised to find that small changes can lead to big results. Sometimes it’s as simple as automating one report or shifting responsibility to the right person.

How to get started with a Transitional Assessment

You don’t need to overhaul your entire department overnight. But if you’re feeling unsure about where your finance team stands or what’s coming next, it’s worth having a conversation.

A Transitional Assessment is a low-commitment way to take stock of where you are, where you’re going, and what changes will help you get there.

At Adams Brown, we help businesses like yours build smarter, more resilient finance departments, whether that means supporting your internal team or stepping in with outsourced services where needed. Contact an Adams Brown advisor to start the conversation.