Outsourcing

Outsourcing the accounting function enables small and mid-sized clients get a top-class management accounting system, budgeting and cash management system and KPIs for a much lower cost than employing a full-time accountant. Cost savings and achievement of top quality services at the lowest cost are the highest priority items for most organisations. For larger organisations shared service centres are seen as one way to deliver savings. For smaller organisations outsourcing of the accounting function is often seen as the most effective way of achieving the highest standards of management accounting information at the lowest cost. Instead of the client employing a relatively expensive full-time person, an outsourced solution can provide a flexible on-site support consultant who steps in during peak periods. Aside from cost savings the real benefit has seen organisations being able to focus on core business activities instead of focusing on non-value added support services. The result is that a top class performance management system can be achieved.

For SMEs outsourcing can occur in different formats dependent on the wishes and needs of the client as follows:

• Client’s staff maintain the sales, purchase, payroll and bank ledgers with management accounts outsourced.

• Client’s staff maintain the sales, purchase and bank ledgers with management accounts and payroll outsourced.

• All accounting work is outsourced.

Benefits of outsourcing:

• Access to superior capabilities and expertise of the provider.

• Cost reduction.

• Radical transformation of the processes.

• Enables the client to focus exclusively on the core business issues such as sales, costs, innovation, customer satisfaction, market share, competitor’s activities etc.

If you would like our report on Outsourcing then please go to our resources page.

You can read the feedback from our Outsourcing on our testimonials page.