Accounting and financial services always grabbed a major share in outsourced services. However, the unprecedented COVID-19 has further increased this share as the CPA firms all around the world are benefitting from outsourced booking and accounting services more than ever. For instance, at Outsourced Bookkeeping we have registered higher growth in the pandemic years as compared to the pre-pandemic era – we think we understand why.
With the pandemic turning tables, businesses have turned to CPA firms for strategic and advisor service to stabilize and keep the business afloat. With the focus on strategic and advisory services, every CPA firm finds themselves to be benefitted from outsourced bookkeeping and accounting requirements. If you are a CPA firm that is not in a similar position, you might be still missing out on a whole lot of benefits which we will discuss in our blog today.
If you are a CPA firm that is considering outsourced bookkeeping and accounting services then these 5 reasons will also make a compelling case for outsourced bookkeeping services. Read on to know:
1. Saves time and cost: Even with the right budget in hand, sometimes it may not be possible to buy time and extend deadlines when the resources are limited. Similarly, a generous amount of time may not be sufficient when the resources at hand are limited. Fortunately, outsourcing solves both problems comfortably.
Having an extra set of hands for each of the tasks get it’s done in half the time at almost a fraction of the cost thereby reducing the extra burden while getting the work done on time. Outsourcing also reduces the overhead which can be significant when it comes to hiring local resources – not to mention their redundancy in the offseason.
2. Advanced technical infrastructure: Automation is driving innovation in the accounting world. Yet it can be difficult for small and mid-sized CPA firms to leverage the benefits due to Investment, personnel training and maintenance challenges. That said, remote accounting firms are often equipped with advanced technology infrastructure in their niche which CPA firms can simply leverage by outsourcing their booking and accounting requirements.
3. Maximizes internal resources: Outsourcing saves time and gets the accounting work done with better efficiency by leveraging the advanced technical infrastructure of the outsourced accounting firm. This takes the burden of the in-house employees who can be directed towards their core area expertise to maximize their efficiency and productivity in the CPA firm. Given accounting firms are hired based on the seasonal demand it is also easy to keep the overhead costs under control and utilize them for better purposes.
4. Improved Scalability: The post-covid era challenges demand holistic help from the CPA firms to stabilize the business. Today’s business needs a comprehensive set of accounting services that not many CPA firms provide without outsourcing.
Outsourcing is the simplest way for a CPA firm to expand its services to increase its client pool and boost its revenue without the additional burden of hiring resources. A remote accounting firm like Outsourced Bookkeeping can help CPA firm quickly scale up their services and effortlessly expand their footprint at less cost.
5. Helps Retain Top Talent: In the same vein, retaining the top talent is one of the most common challenges faced by the CPA firms given the pool of talented resources seems to be shrinking with every year. Add this to inflation that makes hiring more expensive and ever-rising attrition in the accounting industry – retaining top talent becomes paramount today. By outsourcing bookkeeping and accounting, CPA firms will not only be able to get resources at lower cost but can help maximize internal resources and take the right steps towards retaining their services.
Outsourcing helps you leverage advanced technical resources maximizes your internal resources make it easy to scale and help retain top talent. And enables all these advantages by saving a CPA firm’s time and money making outsourcing a key for the success of CPA firms today.
Why choose Outsourced Bookkeeping as our outsourcing partner?
With a team of certified accountants and skilled accounting resources, Outsourced Bookkeeping has been successfully meeting the accounting requirement of our global CPA firms for years now.
Our advanced technology stack that powers our bookkeeping and accounting services enables us to deliver higher accuracy and fast turnaround times. We leverage our experience, expertise and technical skillset to deliver Accounts Payable, Accounts Receivable & Tax Preparation Services making us a one-stop destination for all outsourced bookkeeping and accounting services.
So if you are a CPA firm that is looking to outsource booking or any other accounting function, please have look at our testimonials from our clients and make the right decision: https://outsourcedbookeeping.com/