Accounting Outsourcing

"Outsourcing the finance and accounting functions typically delivers more consistent, accurate and timely data, with greater control over the processes and improved policy enforcement for organizations," said Bill Frech, Vice President, CGE&Y. "Managers and executives can focus on creating solutions and anticipating markets rather than compiling a patchwork of financial data generated from multiple sources at periodic intervals."

Nearly 75 per cent of American and European corporations that use outsourcing to support their financial functions will continue to do so over the next two years, according to a survey. About 29 per cent of these companies expect to increase their use of outsourcing of financial functions, with spending likely to be 16 per cent higher than present levels, the survey found.

Some reasons for which you might be interested in outsourcing your accounting processes are as follows:

• To focus on your revenue generating activities
• To ensure accurate and timely retrieval of information
• To obtain greater access to skilled people
• To take the advantage of best practices in accounting, thereby reducing cost

Here is a small list of accounting outsourcing service providers who are ready with a solution for your accounts related problems:

• www.opiglobal.com: Our approach to assisting a client with their accounting outsourcing needs always provides the best combination of skills and knowledge, resulting in an excellent accounting outsourcing service designed to achieve cost reduction efficiencies and improved quality.
• www.bkd.com: We provide a wide range of outsourcing services to meet your company’s accounting.
• www.cbiz.com: We can customize a package of services that is priced to keep you competitive in your marketplace while taking the headache out of running your business.

There are several key questions to ask when considering accounting outsourcing:

• Which functions do we want to outsource? Why?
• How well does the provider inherently understand our business?
• Can the provider's solution be customized to our business?
• What is the provider's growth strategy?
• How does the provider's culture fit with ours?
• Is the provider's approach flexible and collaborative?
• What do existing clients say about the provider?