It seems like every day we hear about more businesses who are outsourcing their accounting. For many business owners it can be a hard to let go of their internal accounting department, especially when they are also advising on everyday business decisions. We are here to put your mind at ease and review the benefits to outsourcing your accounting:
- Cost- The cost to have an entire accounting team internally goes beyond their salary. You have to account for PTO, health care, retirement, etc. When you outsource your accounting you often pay a smaller cost than even the salaries of an internal team.
- Experience- Outsourcing your accounting means you have an entire team of experienced professionals who are working for you. You are not relying on a few people to do the jobs of many. Each outsourced department has a specific role and area of expertise to ensure each task is completed correctly.
- Industry Specific-Every business and industry is different, especially yours. The teams you work with were created to not only understand your business, but your specific industry. They know what KPI’s and financial statements you need to run your business and make smart decisions every day.
- Outsourced CFO-You can get the experience, knowledge and advice of a CFO without paying the high price tag. Often paired with Outsourced Accounting, CFO Services provide you with in-depth analysis and smart advisement on your crucial business decisions.
- On-The-Go-An outsourced team understands you are constantly busy, so they can adjust to your schedule. Phone calls from an airport or in-person meetings are all possible. Just because your accounting is “outsourced” does not mean you ever out-of-the-loop.
- Time-You can get your time back. Managing an internal team is time consuming and stressful. You won’t have to hold any hands with this relationship—they know what to do to help you grow your business.
Overall, it often makes sense to outsource your accounting from both a financial and time perspective. As a leader and business owner you want to focus on what is most important—running and growing your company.
To learn more about Froehling Anderson’s Outsourced Accounting Services click here.