| There are many benefits to outsourcing and my tasks of a regular business one can outsource profitably. You not only save on cost but also rid yourself of many hassles by outsourcing a task to a professional entrepreneur who run their own business and treat you as a client and not an employer... |
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Background of OutsourcingOutsourcing in general can be looked as as an extensions of the specialization of a labor that that started in the industrial revolution. Outsourcing back office functions including accounting, bookkeeping, payroll , billing, check writing, Accounts Payable, and Accounts Receivable have been made possible by the Internet revolution. Many companies choose to outsource their back office by bringing in a “temp” on site to act as an employee would. If the job involves answering phones or making copies or anything where ones physical presence is required then this is the only option. But many back office functions, bookkeeping and accounting in particular, can be easily done offsite more efficiently than doing these in house. Many large companies have branch divisions that process accounting work in a separate dedicated location. ccountemps, the # 1 Accounting & Finance temporary agency and Granger, the huge industrial supply house both have their bookkeeping operations in Carol Stream IN, separate from their main operations. These giants know that by concentrating expertise and relieving the staff at their various locations from the bookkeeping chores that they are able to concentrate on the 20% of the business that produces 80% of the profits. For many businesses, the decision to outsource certain “non-core” but necessary functions is a very sensible one. This is especially true for small and medium-sized businesses that may lack the resources and manpower to effectively maintain and staff top-notch financial operations. Small business bookkeeping costs can be cut 40% by using the web and concentrating the work in an outsourced “paperwork factory”. Small businesses can hire expertise at affordable rates without the burden of employment taxes and benefits. The web allows 24/7 access to the companies information. Businesses often feel that outsourcing their billing, bookkeeping, accounting, accounts receivable, accounts payable (vendor bill tracking and cutting checks) is not practical because the outsourcing company doesn't know anything about their business. But think to the first day on the job for a new bookkeeper. Does she know anything about the company? Obviously, no. But she learns from doing the work and interacting with the company personnel and customers. The job doesn't change. The account manager and the bookkeeper assigned to your account learn your business as the work gets done. If there are questions about an account or bill a quick phone call or email can get it cleared up. Businesses considering outsourcing should a company that can act as a branch office. A branch office would have a stable group of highly trained an loyal workers . There would be a manager throughly familiar with the work and your business. The manager at your “branch office” would do a sit down with you once a month or more frequently if needed. The outsourced team is always in the loop by doing the work and keeps everyone at your company in the loop. The truth is you will get to know the people doing your work and they will become a part of your company just like a branch office Functions that are easily outsourced tend to be “paper” driven, although today the “paper” arrives via a paperless office system to the paperwork factory. These functions include: Payroll-the
back office function to be outsourced in a big way Obviously it is these are functions that the workers physical presence is not required. The advent of the web has made the back office easy to outsource. Like John Henry and his battle with the steam hammer, the truth of the matter is that outsourcing is here to stay. Companies who adapt the steam hammer will prosper. With the recession , companies have to take a hard look at the way they have been doing business and determine if they want to be John Henry. Best wishes, Elizabeth Marasco,
MBA |
| — Outsourcing articles & services — | |
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Outsourcing Report Subscribe to this free report on the benefits of outsourcing back office functions and you'll learn how to lower risks while concentrating more on those activities that produce profit! |
Comparing outsourcing with in-house solutions
Read which activities benefit from outsourcing and what to look out for in outsourced solutions. |
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Outsourced bookkeeping
If so, read this article about outsourcing your bookkeeping and what that can bring you in terms of benefits... |
Give Bookkeepers Plus a challenge! An easy way for business owners to get first-hand experience on our services. Give us a challenge and we'll tell you how we would solve it... free! Give us a challenge involving outsourcing of accounting services... |
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Learn how easily one can make mistake in the setup of QuickBooks — and how simple it is to fix these in your accounting software! Use an expert's help in training & support for your QuickBooks accounting software and procedures. |
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| Different functions of bookkeeping — read to see what you can benefit: | ||
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Billing & Accounts Receivable Explained in understandable form what is included in accounts receivable and what you need to look out for in this area. |
Accounts Payable & Cashflow / credit What functions are included and how do these influence your finances and credit rating — and how do you speed up the cashflow? Learn the importance of accuracy in accounts payable for your activity! |
Purchasing & Inventory -controlling cost Keeping accurate record on purchasing and inventory allows for optimizing of your stock and investment while minimizing downtime. Read what outsourcing the purchasing & inventory functions can benefit you! |
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Banking routines This area of bookkeeping frees up a lot of your time while ensuring your funds arrive promptly and securely. Read what benefits you receive by outsourcing the banking duties to an accounting professional. |
Cash Management How would you like to be free from constant worry and checking of your cashflow and receive some control and prediction to finances? How cash management can increase your financial control and prediction. |
Payroll outsourcing Calculating salaries is the most time-consuming of all activities. Outsourcing your payroll you gain accuracy at lower cost than handling it in-house. |
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Financial Management Reporting The absolute jewel of services, ensuring that you gradually gain full control over financial planning in your company. Management Reporting teaches you to plan finances hands-on with accuracy and profits! |
Project Accounting An essential service if you have larger jobs or projects coming up which you want to keep under tight financial control. Quality service giving greater financial control. Project Accounting - how to keep the budget and finances of any larger job or project under control! |
Taxes and preparing books for your CPA Why not save some 50% off this part of your accounting by letting our bookkeepers prepare taxes and books for your accountant / CPA? Save money and headaches by... ...outsourcing tax work and preparation of books for accountant's review. |
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Useful articles for LI business owners This page contains articles by Elizabeth Marasco on various subjects relating to taxation, finance, accounting, bookkeeping and other important issues. Read Elizabeth Marasco's articles on taxation and accounting in Long Island and New York |
Bookkeepers Plus Virtual Assistant Don't need a full-time secretary or can't afford one? Then the solution is the Bookkeepers Plus Virtual Assistant - you pay only for the work we performed at the quality requested! Bookkeepers Plus Virtual Assistant - secretarial work without the cost. |
Human Resources Outsource the tasks involved in Human Resources: Workers Comp, insurance, retirement plans, leave maintenance, recruitment, personnel policies, resolving disputes, etc. and save money and time! Human Resources support services: Workers Comp, Retirement Plans, Recruitment, disputes... |
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Other Credits and Collections actions These tasks are not very spectacular if done accurately and correct. But if you forget then many unnecessary problems can arise from... ...Petty Cash , Employee Reimbursements, Business Expenses, and Vehicle Mileage tracking |
Bookkeepers Plus Office Software Application Training Read how businesses throw away thousands of dollars monthly... and how you can make sure you don't... and secure it for free! Bookkeepers Plus Office Software Application Training & Consulting |
Sales Tax Keeping accurate record on your sales tax and filing in time is not exciting and thus it suits outsourcing well. Save money while avoiding all problems due to delays or mistakes... See the savings and benefits available from outsourcing your sales tax routines! |
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Getting the most out of your QuickBooks? Participate in this survey to find out! Want to see if you are receiving the true benefits from your QuickBooks software... or check if it could help you more than currently? Take this online survey on QuickBooks to find out... and receive a free initial phone consultation! |
About Bookkeepers Plus Inc. Introducing Bookeepers Plus Inc. — the outsourcing expert for businesses in Long Island NY. |
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What
do you stand to GAIN by outsourcing select back office activities...
and how do you know which ones to outsource and which not? This
interesting article explains the pros and cons of outsourcing
and offers a make-sense tool for finding the activities whose
outsourcing brings the biggest profits and benefits.
Want
more accurate bookkeeping with timely delivery and without any
problems brought to you about it?