FAQ - commonly asked about outsourced financial services

Why should we engage Lumen?

You get quality support, experienced insights and expert financial analysis to help you make the right decisions for you. Our services are designed to free up more of your time so you can focus on core business and doing more good.

Are the services ongoing or ad-hoc?

This one’s up to you. Our ongoing support services, where we’re part of your business operations month-in and month-out, will bring you the greatest benefits – though we can cater to one-off or ad-hoc pieces or work.

Where do you work and how often will we have contact?

We do hybrid working all the way! It’s great to be in the same room, solving problems together, so we love working with clients at your place of business. Otherwise we’re a quick call or message away. It takes a team and we are here for you.

Do you help with tax related matters?

No, you need an accountant who is a registered tax agent for this. We focus on operational and commercial finance and accounting only – tax is an entirely separate specialist area of accounting.

Why should we outsource and is it expensive?

One of the great things about working with We Are Lumen is that you don’t pay for what you don’t need. The way we look at it, why pay for a whole new hire when you can build a finance unicorn at a fraction of the cost? With us, you pay for results and value, not time and expenses. So you never have to worry about being charged for picking up the phone or sending us a message, for example. We work with you to tailor a solution that fills your specific gaps, and we do a fixed monthly fee for ongoing services.

How does it work with our external tax accountant or auditor?

We don’t take the place of your external tax accountant or auditor. Instead, we work closely with them to provide the information they need for the work they do. In many cases, we can help to reduce your accounting fees through the provision of a cleaner set of accounts for your tax accountant to work with. Win win.

What size organisations do you work with?

While not a hard and fast rule, we typically work with organisations that have been operating for 12 months or more. Turnover varies, though it generally ranges from about $1 million to $10 million. And in terms of the number of employees, the average is between 5 and 50.

What if I already have a finance team?

Good stuff. We fill gaps where you have them and work super closely with the people already employed by you. We can also come up with a complete financial management solution. Just tell us what you need.

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