Sheryl Newcomb, Negosentro | Outsourcing financial functions are common among US businesses of all sizes. From payroll to billing and from accounts payable to benefits and claims administration, the business firms in the US are availing the services of outsourcing companies. Customer service related jobs as outsourced call centers are also very popular for outsourcing. Not only the large multinationals but small businesses too are inclined to outsource bookkeeping and accounting services for which companies like OutsourceDesk.com are eager to seize the opportunity.
More and more companies are delegating bookkeeping, accounting and allied tasks to skilled third parties because it is a cost-effective way of handling routine jobs. Companies can use their technological resources and workforce in a much-focused way to realize the business goals. What the companies gain from outsourcing accounting services have been described in the subsequent paragraphs.
Improved focus on core functions
For a business to grow, the workforce has to add more value instead of just engaging in routine work. When the routine work goes to third parties, the workforce can concentrate on the core area, become innovative and add value to the job. Bookkeeping and accounting are primarily back-end office functions that do not bring any value to the table. Removing the workload enables entrepreneurs to devote time for more critical and value-added functions that could make them more enthusiastic about their work. Lesser distractions mean higher productivity.
Leave it to the experts
The company that handles the bookkeeping and accounting function is a master on the subject and knows the most efficient ways of doing it. Since they are specialists of the job, you have entrusted it to experts that would have never been possible had you preferred to do it with in-house resources. In smaller companies, the people who handle the task have to handle other functions too and are far from trained personnel who can deliver good results. Therefore, with expert help near at hand, it makes good sense to look for service providers to handle it.
A team of bookkeeping and accounting professionals looks after the work on behalf of the outsourcing company whereas may be only a few people were doing it in-house. Since more people look after the work, there is closer scrutiny, and error-free work as series of checking and double-checking by many people keep happening. As a result, you receive more accuracy in the job done by the outsourcing company.
Access to better technology
By outsourcing the bookkeeping and accounting functions, you are likely to get access to more advanced technology that the outsourcing company uses. It is natural that these companies work on high efficiency because the more they can deliver better will be their profits. You thus get the benefits of using better software that produces accurate results without having to invest in it. Also, the records and documents are more organized.
Outsourcing allows you to ramp up or scale down the bookkeeping and accounting services to meet the changing demands of business.
About the author: Sheryl Newcomb is an accountant and currently heads a financial consultancy firm. She has worked with some outsourcing companies including in OutsourceDesk.com the capacity of an adviser. Sheryl is a bookworm, and you would always find some book that she carries in her bag.