Bookkeeping is a necessity for any business today. Business owners can either opt to do it themselves, hire an in-house bookkeeper or delegate the responsibility to an outsourcing firm, and depending on the business requirements, any of these can be sufficient. However, as the business grows, there will eventually come a time when outsourcing becomes the optimal and smart choice to make. For business owners looking at outsourcing as an option to expedite their bookkeeping, here are some of the merits of outsourcing that you may like to know.
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1) Outsourcing Saves Time and Money
Outsourcing your bookkeeping can positively impact your business efficiency and productivity to a significant extent, as testified to by 80% of participants of the 2018 Client Accounting Services (CAS) Survey. By delegating your bookkeeping to a reliable outsourcing firm such as Expertise Accelerated, the top management can focus on core activities while achieving up to 60% cost savings. This is quite the boon for any business and is a defining feature of outsourcing and its popularity.
2) Outsourcing is Simple
One of the unsung benefits of outsourcing is the ease of the process. Outsourcing provides the unique benefit of setting up a third-party firm between you and the bookkeeper that manages all the logistics of the process, only bothering you with the most important matters. Thanks to technology, business owners can keep an eye on their bookkeeping in real time and rest easy knowing their operation is in good hands.
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3) Outsourcing Minimizes Error
Another major reason to opt for outsourcing is the security it provides. Some may scoff at the idea of trusting a third-party being more secure. However, it is a fact that with an in-house bookkeeper a growing business will be vulnerable to errors and potential fraud as the workload expands, as illustrated by Accounting Web. On the contrary, an outsourcing firm has access to experts as well as specialized technology to greatly mitigate these risks. A dedicated financial monitor can vet the bookkeeping and ensure security in place and process.
4) Outsourcing is Flexible
There are limits to what you can expect from a hired bookkeeper as nobody can cover every aspect of the job. When it comes to outsourcing, experts can help business owners create their very own custom bookkeeping experience which fulfils their unique needs. This flexibility can only be found easily and affordably when dealing with outsourcing and contributes to the popularity of outsourcing.
The Next Step
While all these benefits are associated with outsourcing your bookkeeping, it is important to find a firm that can competently meet these expectations as well. Thanks to the internet, there is no end to the number of available options and business owners need to assess their requirements to find the best fit for them.
Expertise Accelerated: A Smart Choice
Expertise Accelerated (EA) is a Connecticut-based outsourcing and staff augmentation specialist for accounting & finance services. EA is committed to delivering 60 percent quality-assured payroll savings to its US clients.
EA’s service methodology is quality-centric, and this reflects in its rigorous recruitment processes and the US CPA team training the offshore remote professionals for client-specific roles so they become a strategic fit for the client company.
Expertise Accelerated provides general accounting and bookkeeping services to help US SMEs achieve efficiency and value in their business operations.
Outsourcing is an immensely popular mode of operations in business today. Offering efficiency in time and cost, error mitigation, simplicity in process and more, outsourcing can be best described as a combination of quality and affordability if your outsourcing partner is reliable, credible and trustworthy.