I would like to provide some insights — beyond the obvious — about outsourcing your accounting processes.
Studies have shown (and I have witnessed first hand) that Outsourcers are more likely to triple check their work and make less errors, due to them being the hired and not the in-house employee. This also is in part due to the singularity of the service offered.
The detection of errors is better controlled because their systems are specialized for only a few tasks versus the accounting firm running-a-business needs. In addition, technology is upgraded frequently to constantly offer better reporting, faster turn-around, and easier communication. Where in a multi-level firm, the technology for back office computing could be less than state-of-the-art due to the firm’s budget allocations focused on different areas of growth.
As we have said before, outsourcing has been the way that Corporate America built today’s largest accounting firms some 35 years ago. When you reach levels of $4-5 million in revenues, the benefits of outsourcing allow for less in-house staff and lower overhead costs, along with intrinsic values of better processing. This is why outsourcing is so important to a healthy business society. So when you are thinking of improving your business, these factors are other reasons to consider back office accounting outsourcing.
I hope this was useful to you and your business.
Get in touch with us today if you would like any questions answered. – (914) 755 1922
-Srikant Jalan, President