Accounting outsourcing will not only improve business processes at the enterprise, but will also let it work out the most effective strategy for its development. Engagement of an external accountant will allow to set up document flow and optimize all the processes of interaction between departments!
Unlike accounting services provided by individual external specialists, accounting outsourcing is a special form of interaction when an external department is engaged in working business processes, fulfilling the full range of routine daily tasks – from preparation of reports to handling transactions at the international business level.
One can outsource any accounting functions: registration and analytical, operational and supervisory, statistical and management functions.
Benefits of accounting outsourcing
Outsourcing of accounting processes will provide the company with maximum benefits:
- Finance saving – the cost of engagement of external professionals is on average 35-40% cheaper than keeping full-time accountants.
- Time saving – due to outsourcing of several companies, an enterprise can increase its data processing rate by several times.
- Risk insurance – in contrast to an in-house accounting department, it is possible to conclude a professional liability contract with a specialized company, where all the necessary details will be specified.
- Professionalism – there is neither a need to train employees nor a ‘ramp-up’ period for a new employee.
- Experience – a specialized accounting company does bookkeeping for dozens of organizations simultaneously, and therefore it works in the mode of continuous tax audits all the time, gaining experience in adjudication of tax disputes.
Efficient accounting outsourcing!
Accounting record-keeping of the enterprise should be called the most complicated part of the business process. The head of the enterprise shall not only work at strategic planning of the company development, but also delve into instantaneous accounting problems. Frequently, there is simply no time for this. In other cases the head has no such experience and might make gross mistakes while keeping documentation.
Accounting services can be performed both by the regular staff and remotely, when employees will work through applications (for example, 1C) in the territory of their own company. This is particularly actual if the company is small and there is no office at all – for example, many self-employed individuals carry on business at their own home. In any case, such accounting services provide additional savings.
The absence of diseases, maternity leaves and vacations is another advantage of accounting outsourcing. An outsourced company maintains a staff of interchangeable employees and guarantees the delivery of reports within the required time limits as well as absence of errors in the work.
Application of accounting outsourcing provides the company with specialists with a high level of managerial knowledge and skills. Accounting services will be performed by an integral functional organization, which, at the same time, will be organizationally and legally independent. And if you have long wanted to take some of the difficult work away from your accountants or organize an accounting department from scratch, outsourcing of processes will resolve this issue!