Outsourcing- Definition: Obtain goods or services from an outside supplier in place of an internal source.
American companies embrace innovation almost as much as they embrace outsourcing. If you think about it objectively there are very few manufacturing companies that obtain goods from an internal source, in the truest sense.
So why would you consider outsourced accounting services:
- Save time and money- Time and Money, if only we had more of each. If you only had more time or money (or both), most of our problems would go away. How many of your vendors are offering you time and money savings? Outsourced accounting services can offer both.
- Real time access to accurate data- Large companies agree that having access to accurate reports is invaluable to decision makers. So why would small business be any different? If anything this information may be more important to Presidents, CEOs and CFOs.
- Your documents/files stored securely- If you ask any client that has had to recreate lost data due to a computer crash, they will tell you what it is worth to have multiple layers of backups available in case you lose that data.
- Eliminating the knowledge power holder- Most small to mid-sized businesses have gone through this transition. They had a bookkeeper/controller employee who knows how all the systems come together. What happens when you need to replace this employee? Or worse, what happens if they quit expectantly? Sometimes an in-house knowledge base is fine, but how do you deal with one person who runs everything, and maybe knows a little too much about employee compensation.
- Other benefits- When you outsource, inherently you are going to avoid many concerns associated with hiring employees. Benefits like: avoiding sick-time calculations, unemployment claims and miscellaneous employee baggage. Usually our business owners also find that due to the fact that they do not have to worry about execution of specific objectives they can focus their time executing their own business growth objectives. This re-allocation of time can be very beneficial for business leaders (and their investors).
If you would like more information about outsourced accounting services, please reach out to us. We offer many different service levels for many different sizes of clients. We tailor our accounting services to your particular business needs.