If you run an SME, you might find outsourcing your accounting tasks a good idea. Here is why getting a qualified outsourced accountant can be cost-efficient and good for your business.
This will come as a surprise to nobody. But we’re absolutely obsessed with helping people save money. And since we all use energy in our business and domestic endeavours, we strive to help you find the right energy tariff for your home. Especially in an age where the lines between home and workplace are blurred, with many of us still adhering to remote or hybrid working methods.
Although we can’t help SMEs to find business energy plans, we’ve published lots of information on how to choose the right business energy plan for your needs, and evaluated many business energy suppliers. But that’s not the only way we can help SMEs save money. Here we’ll look at a way in which businesses can save money and improve cash flow through outsourcing. We Link Accountants can provide instant access to a wealth of qualified accounting talent for you to use as and when needed. You can check out their website here. Outsourcing your accounting can be highly advantageous to most small businesses. Here’s why…
Eliminates the element of chance
When taking on a new team member in any department, there’s always a risk that the person you employ doesn’t quite match the person their CV portrays them as. However, when you outsource using a service like We Link Accountants, you can choose a qualified accountant who specialises in your type of business. You can take the time to do your due diligence and read reviews by real clients before deciding on the right accountant for your business needs.
Potentially more secure
You may assume that keeping your data in-house is inherently more secure than sharing it with outsourced third parties. But this isn’t necessarily the case. Professional accounting services employ rigorous data protection safeguards such as access control, and redundant data backup while adhering to strict confidentiality clauses.
An outsourced accountant’s security provision may be far more comprehensive and sophisticated than what you have in-house.
Can improve operational efficiency
Many smaller operations share accounting and bookkeeping duties between different members of staff rather than bear the expense of employing an in-house accountant. This may be relatively cost-effective, but it’s often an exercise in false economy. With numerous members of staff juggling these functions alongside their other duties, it can limit their productivity and compromise your operational efficiency.
Allows you to spend more time on business-critical activities
Be honest with yourself. Are you spending more time working on your business or working in your business? The former can help you to chart a path to growth and prosperity.
The latter can lead to long, stressful days, reduced productivity and a demoralised workforce.
Outsourcing accounting leaves your team with more time to focus on the business-critical activities that ensure operational excellence and fuel growth.
Saves you money
On the face of it, outsourcing may seem like one more overhead expense that you could do without. But the truth is that outsourcing your accounting services is often much more cost-efficient than employing your own in-house team. You get the services of a qualified and highly-skilled accountant without the need to contribute to their pension, or provide them with holiday pay and sick pay.