Outsourcing accounting is increasingly common among small, medium and large companies. In this article, we discuss the advantages that outsourcing accounting can offer your company.
When a company decides to outsource it means that it has chosen to entrust the management of one or more of its in-house processes to an outside supplier, in order to optimise procedures and resources. The results of studies and research carried out on companies that have decided to outsource shows that they have reduced costs by almost 20%.
Accounting is an essential activity for a company to function properly. So why should an entrepreneur choose to delegate it to an outsider? An increasing number of companies outsource accounting to maximise productivity, manage their in-house resources better and be responsive to changes in the market.
All the advantages of outsourcing your accounting
Lower costs
Having a specialised, qualified in-house accounting team is definitely an advantage for any company. However, in-house resources need on-going investment in training and refresher courses, as well as the fixed costs associated with internal staff (holidays and sick leave, etc.). Outsourcing accounting offers notable savings: professionals are always up to date with the latest legislation, they use more innovative software than those normally available to companies and there are none of the costs of recruitment (salaries, residency permits or contributions, etc.)
Lower risks
An experienced team can find and communicate even the smallest accounts-related issues, usually due to errors or omissions in the routine work of the accounts department. Thanks to the team’s continually up to date know-how, outsourcing accounting means detecting and preventing critical issues fast and – in the worst cases - even avoiding a crisis. Professionals with expertise can suggest savings and spending plans, to maximise benefits and reduce unnecessary costs.
Greater attention to critical issues
Internal pressures on the accounts department may result in some sensitive situations not being brought to light, and in the economic aspect of accounting prevailing over the strategic one, meaning it is limited to a constant search for ways to save money. An external, neutral accounts team can offer more considered decisions and not neglect the strategic aspect of accounting, helping the company to grow and develop in step with innovations and new market dynamics.
A competitive advantage
Outsourcing accounting is a real strategic plus, in that it offers considerable competitive advantages. Firstly, optimising a budget related to specialised employees allows a company to concentrate its resources on its core business. Accounting then becomes a strategic asset for identifying issues in advance, dealing with even the most sensitive situations and managing the budget better in the long term, positively impacting the overall performance of the company.
What are the advantages of outsourcing?
To summarise, outsourcing offers new opportunities to companies that take advantage of it. With outsourcing, you can minimise the costs associated with accounts staff by quickly acquiring highly specialised and up-to-date external personnel, allowing you to focus internal resources on the most productive activities for the company.
Some entrepreneurs believe that outsourcing means less control. Remember that outsourcing a task does not mean that you no longer direct the work: an experienced team like the NFS Group knows how to keep an open dialogue with clients throughout the process, and makes sure tasks are carried out according to your needs and standards.
The main aim of our services is to offer added value to our clients' future decision-making processes. To achieve this, we use Abacus, accounting management software that accompanies our clients in their digital transformation process, ensuring maximised profitability and process efficiency. Deepbox, an Abacus function for automated document management, also helps us make our customers operationally agile and keeps work management in the hands of clients themselves, while making it even more effective.
Don't miss the opportunity to make your business processes more streamlined and efficient: discover our accountancy and administrative consultancy services.
