Why Might Your Business Turn to Outsourced Accounting?
Despite requiring a skilled professional to handle their accounting function, many companies simply don’t have the workload or resources to hire a full or part-time employee. Many businesses have also suffered from the inconvenience that comes with losing a staff accountant and the disruption of getting a replacement up to speed.
Instead, many businesses turn to outsourced accounting which brings significant benefits:
Refocus on your core. One of the biggest benefits of outsourced accounting is that it allows owners and executives to focus on the core of their business. You can breathe easier knowing that an expert is managing your accounting function.
Increased flexibility. When you outsource, there’s no need to scale your accounting department to accommodate an increase or decrease in business. Your outsourced staff is ready when you are.
Expertise. Sophisticated reporting and forecasting may be more than current staffing can provide. However, this type of reliable data is essential for growing businesses. If you outsource, you know you’re getting top-trained talent that’s up to date on the latest tax and other financial regulations.
As for timing, outsourcing can be beneficial throughout a business lifecycle. For example:
Post-start-up. All new businesses eventually need professional financial statements and other documents for funding. Outsourcing makes this level of professionalism an integral part of your finance team.
Employee turnover. If a finance executive is moving on or a trusted bookkeeper is retiring, the timing might be right for an outsourced replacement.
Merger or acquisition. When you’re buying or selling, the increased stress on your internal team may call for outsourced backup services. Contracting with an outside resource—even for a limited time—can provide the assistance you need.
Many of Dembo Jones’ long-time clients originally thought they did not have the budget for outsourced accounting. However, they realized that not only was the expense lower than they anticipated, but they derived substantial benefits from partnering with a skilled professional team. Knowing the intricacies and nuances of our clients’ operations lets us offer insight and advice, counsel, and guidance for their unique position.
Dembo Jones is eager to share how our dedicated, specially trained Outsourcing team can adeptly manage your accounting function and leverage our more than 65 years of experience for the success of your business.