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Accounting outsourcing heating up
With increased attention on operating efficiencies and high-integrity accounting, many companies are finding outsourcing of accounting services to be efficient, flexible, and cost effective. Whether a company is just starting out or has lost their controller, it may not be advantageous to “staff up.” Outsourcing can include accounting and financial services, from data entry and bank reconciliation, to financial statements, cash flow analysis, payroll management, variance analysis, developing banking and other financial relationships, mergers and acquisitions and more. One of the key advantages of outsourcing is timeliness. Accounting firms who outsource can guarantee timely closing of books and current financial statements. Further, accounting firms who perform outsourcing have the ability to staff a wide variety of tasks at the most productive skill level. This alleviates the need for operating companies to staff jobs that are not full-time. In other words, outsourcing provides scalability to staffing on an hourly basis, versus a full-time employee basis. A key incentive for outsourcing is the elimination of human resource headaches including funding sick time and vacations, providing employee benefits including pricey medical insurance. In a nutshell, outsourcing allows companies to have affordable accounting costs with guaranteed quality because it is done on a contract. If quality is not delivered, the company can find another vendor. The biggest advantage is that a company can replace one individual with an entire team of accounting professionals. Burkhart & Company is effectively outsourcing accounting applications for a variety of businesses and family offices. State-of-the-art communications technology allows the Firm to create a “virtual” office with their client offices, providing maximum efficiency and reduction of information float. Whether it is a confidential payroll, or full back-office accounting operations, the Firm can provide an analysis of the costs and benefits of outsourcing. For more information on accounting outsourcing, contact Debra Baird at debrab@burkhartcpa.com. |
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