by: Cary Weltken
Wednesday, October 14, 2015 | Company News |
Whether you run an internal accounting department for a corporation or an accounting firm staffed with Certified Public Accountants (CPA), you can benefit from outsourcing routine tasks and functions and freeing up your staff to focus on higher value work.
Your accounting staff brings tremendous value to your business in ensuring that processes are strictly followed and to help in navigating the rules and regulations that are mandated by regulatory agencies. Your staff brings the most value when they are monitoring cash flow and investments, developing tax strategies, and ensuring that regulatory compliance is met.
As your staff gets busy with routine tasks, it takes away from their ability to spend time working on higher value processes. The routine and highly transactional tasks are the ones that can be identified as those that could be done by an accounting support team at MicroSourcing. With MicroSourcing's Managed Operations service delivery model, you will be able to set up a dedicated team of college educated accountants and implement your workflow processes, software tools, and quality standards.
For corporations, the routine tasks that you could consider outsourcing include payroll, bookkeeping, accounts receivable and payable, routine reports, forecasts and analysis, expense reporting/reimbursements, and collections.
Are you an Accounting firm that is using highly compensated CPAs to produce monthly reports and conduct routine analysis and then having to pass those costs on to your customers? Your MicroSourcing team can take on these routine tasks, freeing up your CPAs and giving you the ability to control the cost to your customers.
To determine if setting up accounting operations with MicroSourcing makes economic sense, do a cost/benefit analysis. Compare the cost of adding employees in-house, taking into account expenses like salaries, benefits, training, office space, equipment, and software, compared to the overall expense of using MicroSourcing.
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