Pros and Cons of Outsourcing Accounting
Every year, almost half of all small businesses spend weeks of management’s precious time managing their finances, according to a survey by the National Small Business Association. Managers of rapidly growing concerns spend even more time trying to demonstrate their financial viability to investors and potential customers. Given how little time leaders of growing companies have, the thought of these senior resources spending many working weeks each year just on their finances has many weighing the option of outsourcing their accounting work.
A blog for small businesses, Work in my Pajamas, recently posted “Outsourcing Accounting Services: Pros and Cons,” a guide for small business owners struggling with this decision.
The article gives a summary of the financial and time savings that can accrue, as well as the potential for concurrent improvements in quality and cash flows. The article also lays out potential concerns, which can be easily addressed by the most experienced and effective outsourcers. These include fear of loss of control over accounting services that are handled in different locations or time zones, an issue that can be addressed by partners who manage processing with complete transparency.
Business owners of all stripes looking for experienced, effective, transparent support regularly turn to IQ BackOffice to for accounting outsourcing, accounts payable outsourcing, accounts receivable outsourcing, bank reconciliation outsourcing and other services at a considerable saving. IQ BackOffice’s web-based solutions process more than $15 billion in transactions annually, saving clients up to 68% compared to the cost of in-house services.
Learn more about all of the IQ BackOffice Accounting Outsourcing Services.
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