Growing more and more in popularity with every passing year, outsourcing for a variety of practices – including accounting – helps businesses improve their efficiency levels, stay on the right side of the IRS and afford themselves more time to focus on value-added activities.
That said, you may still be uncertain as to whether outsourced accounting is right for your business, so below, we allay your top 5 most common concerns:
- It will cost more to outsource
While it’s true that outsourcing your accounting functions will cost you money (it’s a service after all, and few of those come for free), the money it can save you in the long term, typically pays dividends fairly quickly, and most businesses see a healthy return on their investment in a mater of weeks.
Be sure to discuss clearly how their service will be priced, to avoid paying more than you had been prepared to part with, or were aware of.
- My client’s security may be at risk
In order for the outsourcing firm to complete their work for you, it’s inevitable that you must hand over some (or all) of your client’s data to them. However, reputable firms who outsource accounting and other services, take the security of client information extremely seriously; it simply isn’t in their interests not to do so.
Cloud technology and the strict protocols surrounding data security, mean that your client’s data is as safe with the outsourcing firm, as it is with you.
- The work may not be of a high enough standard
You don’t want to let your loyal client’s down by paying another firm to handle their financial data, only to discover that the standard of work is below par, and not what your clients would expect from you. In part, preventing this from happening is down to you: be rigorous in your checks when selecting an outsourcing firm to work with, and only deal with those who have ample experience and a good reputation.
- What if I lose control of my work?
When work is carried out by someone else, it’s always possible that you’ll experience a certain loss of control, but again, this is partly down to you. Choose an outsourcing firm who prioritize communication, and who are proactive with keeping you informed and updated as to the status of each job they’re working on, and when you can expect the work to be completed.
- How will I know whether it will work for me?
As with many things in life, there’s only one way to find out if something will work, and that’s by doing it! That said, if you’re careful in your selection, you should be able to find an outsourcing provider who will give you testimonials from their previous or existing clients to help reassure you, and some may even offer a free trial job to help you see just how much you could benefit from their services.
Still have concerns? Why not find an outsourcing firm that offers professional services at affordable rates, and simply call them up for a chat; you’ve got nothing to lose, and a lot to potentially gain.