As your company grows, so do your accounting and finance needs. What starts as simple bookkeeping expands into more complex accounting and payroll questions, and then expands into the need for strategic planning from an expensive CFO. But should you incur the costs of a full accounting team? What if you do not feel your company is quite big enough to need a full-time accounting team, but you want someone more experienced than your aunt handling the job?
Before you start accepting job applications, consider the benefits of outsourcing your accounting and finance needs:
1. Cost Savings
This is a language any business owner can understand! Hiring a full team of accountants costs serious money, not just in salaries, but in benefits, taxes, insurance and time too. When you hire an outsourced accounting and finance firm, you are able to control your costs and have the team provide services for what you actually need. You are only paying for the hours an accountant is handling your work.
2. Time Savings
If your company does not employ a full financial team, then there is no time spent recruiting, hiring, managing them or handling personnel issues. Outsourcing your accounting and finance team will free you up to grow your business and focus on the area that matters most and that is driving the bottom line.
3. Highly Trained Staffers
When you hire an outsourced accounting and finance team, you know you are paying for expertly trained staffers to handle your accounting and finance – not just someone who dabbles in QuickBooks. And when it comes to your money, you want someone who understands the ins and outs of YOUR business – revenue recognition, KPIs, GAAP Accounting, payroll, tax codes, proper budgets, forecasting, etc. – so that your business remains in the black and constantly moving forward.
4. Less Risk
An outsourced accounting and finance team provide less risk to your company. Their contractual agreements bind them and hold them to a higher standard. The blame falls on them if financials are not handled appropriately, meaning there is less liability to you. That being said, your company can be assured that outsourced accounting and finance team members are going to handle your account with the fiduciary duty, utmost care and attention to detail that we know you demand.
5. Positive Feedback
An outsourced accounting and finance team may provide your company with financial suggestions through varying metrix analysis or KPIs that you may never have considered. Expect to get options on how you can maximize the use of inventory, grow your business revenues, determine product profitability or save your business money. These options would never have discovered or thought of without the help of an expertly trained accounting and finance team.
If you are interested in outsourcing your accounting and finance needs, give Bryan Polozola at NexGen Finance Solutions (214-629-0100 firstname.lastname@example.org) a call today.Our team of expertly trained staffers is well-qualified to give your company the attention and care you demand. From basic accounting to strategic forecasting, NexGen Finance Solutions is ready to deliver. Are you ready to meet your new finance team?