6 Ways Outsourced Business Office Support Can Add Value

Imagine being the CFO of an athletic department. Your business office is understaffed and overworked, and the carousel of turnover is moving faster than ever due to increased demands and changing priorities. Completing basic day-to-day tasks becomes a struggle, leading to late nights, high stress and little time to focus on the bigger picture. The phrase “the evolving landscape of college athletics” evokes frustration, yet there’s no time to pause and address it.

In this scenario, can your department handle additional responsibilities and respond effectively to industry changes? It’s unlikely.

Now, consider an alternative: a strategic partner by your side to offer expertise and strategic guidance to help you meet your challenges head-on. Transforming your business office operations through streamlined financial reporting processes and updated policies allows your team to focus on adapting to changes and staying ahead.

Here are six ways you can utilize an outsourced fractional athletics business office (ABO) support team to add value to your athletic department.

1. Financial Reporting

Outsourcing to a knowledgeable team allows customization of financial reports beyond basic financial statements, helping you tell your financial story. This includes designing financial dashboards for business office use and producing reports for internal and external stakeholders.

Internal financial reporting can be streamlined, from budget reports for sports admins and coaches to financial dashboards showing revenue trends and other insights for athletics leadership. Reports can also include key benchmarking data of your conference and aspirational peers, providing a comparative analysis with key insights. This real-time financial context supports better decision making, driving improvements and strategic initiatives forward — and ensuring your department is always a step ahead.

Additionally, EADA and NCAA report processes can be streamlined, saving time and reducing errors. Support for annual NCAA agreed-upon procedures performed by independent accountants can also be provided.

2. Strategic Financial Planning

Support in strategic financial planning and scenario planning helps you prepare for various financial outcomes and make proactive decisions. Breaking down silos by engaging with not only with the business office but also other business units of the athletics department and campus partners ensures a cohesive approach.

3. Evaluating Policies and Procedures

Thorough evaluations of policies and procedures for various business processes (such as p-cards, expense reimbursements, team and recruiting travel, ticket operations, budgeting and more) ensure efficiency and compliance. Proper accounting policies and internal controls should be emphasized, along with mindfulness of risk exposure for IRS, NCAA, Title IX and other regulatory compliance.

4. Due Diligence

Providing due diligence over prospective third-party revenue partners, NIL collectives, investors, vendors and more offers peace of mind. Managing these contracts effectively, though challenging, ensures they serve the institution’s best interests. Identifying potential risk exposure and advocating for financial needs and strategic vision are key benefits.

5. Training and Development

Tailored one-on-one mentorship for athletics business officers aiming to grow as leaders and professionals can be an asset. Training and development for senior leadership and campus partners regarding athletic department finances ensures top executives are well-versed in financial matters, enabling informed decisions.

6. Special Projects

Assistance with strategic priorities, such as telling your financial story to key stakeholders and managing name, image and likeness (NIL) and revenue share responsibilities, are other advantages of having an outsourced partner supporting your business office. Additional value includes responses to ad hoc inquiries from stakeholders and other limited, non-routine requests.

Why Choose Fractional ABO Support?

Investing in fractional business office support brings the expertise and guidance necessary to provide compliant, high-quality financial services to your athletic department. This support relieves some of the management burden, allowing leaders more capacity to focus on what they do best—proactively and strategically supporting your athletic program.

Outsourcing your business office support to a collegiate athletics CPA and consultant provides you with tailored, expert assistance that helps your athletic department succeed. Whether you need occasional advice, strategic leadership or comprehensive management, the right service can be customized to meet your department’s unique needs.

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