The Benefits of Outsourcing Finance and Accounting Services

A business is only as strong as its weakest link. Without an efficient accounting team  and processes, a business cannot generate quality financial reports and statements. Regardless of the size of the company, accounting is at the heart of a company’s success. 

Small and medium business owners face accounting challenges everyday, while they are trying to simultaneously service their customers and perform their core value proposition because they often do not have the workforce or the resources to get the accounting job done. Building an accounting team is quite difficult due to limited access to the talent pool and hiring skilled professionals at an affordable cost.

To overcome this, partnering with an outsourcing company to help you build a great accounting team can help you hyper focus on your business goals.

Cost Savings

When you in-source accountants, you will pay their salaries and benefits such as medical and life insurance including the purchase of all of the softwares and tools they need to get the job done. This is really expensive. But, if you build an outsourced accounting team, you can cut those operational expenses up to 70% off.

The savings that outsourcing partners usually provide is considerable without reducing quality of service and compromising productivity. They will take care of the employee’s salaries, taxes, benefits and other operational expenses while you still get the full benefit of a full-time employee.

Access to available talent

The accounting profession is experiencing a tightening pool of skilled candidates globally making the hiring process even more difficult. As a result, companies are spending more to hire skilled accountants by bumping up compensation offers and being more flexible on the negotiation requests from these professionals. In return the company will have to invest more to hire them.

But with the right outsourcing partner, you won’t have to deal with scouting accountants that will match your unique needs because of their access to world-class talent and A+ recruitment process.

Eliminate hiring process and cost

In connection with the above point, another great thing about third party accountants is that they will take care of the hiring process and filtering the best people for your company and making sure that they have the proper certifications and skills. 

Recruitment and hiring is time consuming. Dealing with this along with making sure that your business goals are being worked on may add another level of challenge you have to face. Aside from scouting and screening applicants, background checks and interviews, newly hired team members have to be trained on the ins and outs of your business to get them fully on board with your company’s vision. Your outsourcing partner can do all the necessary training to fully equip them.

Time efficient

As your business grows and you focus more on achieving your business goals, you will find yourself dedicating more time and energy on managing your growth and less on micromanaging non-core activities. Therefore, outsourcing administrative and financial tasks like bookkeeping and accounting help realign your resources on creating the business strategies. It will be bringing more revenue, as well as networking and building relationships with your clients.

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize your full potential. 

Below are some examples of F&A expertise that we can recruit to build a team just for you:

• Accountants
• Bookkeepers
• Finance Associates
• Finance Specialists
• Fund Treasury Associates
• Others

Let’s work together to build a great Finance and Accounting Team.

Infinit-O is the trusted customer-centric and sustainable leader in Business Process Optimization to Small and Medium businesses in the Financial Services, Healthcare and Technology sectors by delivering continuous improvement through technology, data and people.