Outsourcing Defined

The trend today for many employers is to outsource any function of business that is not directly related to the generation of income. But what exactly is outsourcing?

Simply put, outsourcing is the long term contracting of a company’s business processes to an outside service provider, helping to increase shareholder value by reducing the costs of non-core functions.

Of course, outsourcing is not a new concept. For years companies have outsourced their legal, advertising, printing, and computer services so they could benefit from professional expertise without substantially increasing overhead.

Outsourcing Your Accounting Is a Positive Idea for Your Business if Any of the Following Applies to Your Current Situation:

• You are spending too much time managing your books and not enough time growing or running your business.
  
  
• You find that you are cutting corners, or you are uncomfortable with your accounting because it is too time consuming, or you do not really understand how to do some of it.
  
  
• You want professional grade accounting but either cannot afford or simply do not have the need for a full time accounting person or department.
  
  
• You have a basic understanding of financial reports, so that you can stay informed about your business on an “at-a-glance” basis.
  
  
• You are not afraid to ask questions if you notice things on financial statements that you do not understand.
  
  
• You want the flexibility to examine your accounts whenever and wherever you’d like, combined with the peace of mind that your books are being maintained by dedicated professionals.