The odds that you opened your company because you love accounting are pretty slim. You went into business to care for patients, sell your product, or make amazing food. Accounting, much like making the office coffee run or taking your turn at the reception desk, is just another task that startup owners do because it needs to be done.
But what happens when it’s time to expand your business?
Suddenly, the bookkeeping task becomes much more complicated. Should you hire someone? Part-time? Full-time? How do you know if they’re any good?
It’s time to start seriously considering outsourcing your accounting and bookkeeping to a team of professionals. Let’s shed some light on the advantages.
Outsourced Accounting Gets You More for Your Money
The first and perhaps most important benefit of outsourcing your accounting is a solid ROI. Outsourcing provides you with access to highly educated and experienced professionals for as little as half of what you would pay hiring locally. Their skills translate to faster, more accurate bookkeeping for your business. No compromise required.
You’ll also save time and money by eliminating the hiring process. Instead of paying for a job posting and spending hours going through resumés and conducting interviews (hours paid at manager-level salaries), you can rest easy knowing that your new accounting team has been extensively vetted.
With outsourced accounting and bookkeeping services, you won’t have to worry about office space for your accountants. This is the real jackpot for scaling businesses. Even if you grow your business and need to increase the size of your accounting team, it won’t cost you one square inch of real estate. Just a phone call.
The Advantages of Expertise
Your team of outsourced experts will deliver more accurate financial data and reports, and they’ll be one hundred percent objective. With no conflict of interest, you don’t have to wonder if they’re just telling you what you want to hear.
As your business grows, your bookkeeping needs will become more complex. If you hired an accountant locally, you might have to reconsider their qualifications. After all, you were only looking for someone who could keep the books for a small company. Are you sure they can handle the new complexities? With an outsourced accounting partner, you’ll know.
The bigger your company gets, the more you need to ensure that your stakeholders’ investments are secure. If you don’t know anything about cybersecurity and safe document handling, you’re not alone. An estimated 43% of small businesses have no cybersecurity in place at all. Fortunately for you, your outsourced accounting team has you covered with expert encryption and firewalls.
Freedom to Focus
With accounting and bookkeeping off of your plate, you can be free again. Free to focus on your day-to-day operations, free to turn your attention toward growth and scalability, but most of all, free to get back to the reason you started your business in the first place.
Your outsourced accounting partner will save you money. They’ll save you time. They’ll save you headaches. But if the only thing they did was allow you to chase the passion that got your company going, it would be worth every penny. So take back your energy and your time. Get back to the job you love. That amazing food isn’t going to cook itself.
Finlyte Is the Accounting and Bookkeeping Partner You Need
Are you ready to meet your new partners? You can contact us through our website with any questions you may have. We’re looking forward to hearing from you.