By Analytix Editorial Team
Deciding to outsource your accounting and bookkeeping functions is a huge step in allowing you more time to focus on growing your business. But making that decision is only half of the equation. Equally important is selecting the right outsourcing accounting partner who aligns with the needs of your business. While there is no magic formula, the following are several considerations to help you choose one who is right for you.
Hire an outsourced accounting firm that has the domain experience and depth of industry knowledge to help you stay ahead of the growth curve. A reputable outsourced firm has certified experts who bring rich industry experience. They can provide customized solutions by combining an array of services, applications, and tools to fit the specific needs of your business and the industry in which you operate. This is especially important in the present climate, when most small business owners are answering “I don’t know” to many critical questions. An experienced accounting partner can help answer those questions.
A good outsourced accounting firm has satisfied clients and good reviews. Client testimonials and referrals can provide honest insight into your outsourced accounting firm’s operations and customer service. The internet is a treasure of information and in today’s connected world it isn’t difficult to evaluate the market reputation of a firm.
Scalable and Flexible Services
Choosing a firm that delivers scalability on demand allows you to leverage their resources when your business needs demand it. This helps your business tap into new opportunities without worrying about the required resources or infrastructure. Additionally, consider the flexibility of the offered solutions. Flexibility is one of the accounting partner’s major benefits. A good outsourced accounting partner should provide both flexible engagement packages and the availability of workers to address peak periods, such as tax season. They should also be willing to help integrate your business practices with their accounting procedures.
As the world of outsourced accounting services evolves, new cloud-based technologies enable outsourced partners to streamline and automate processes. However, migrating to the cloud can be a challenge for small businesses. Therefore, when choosing to outsource, make sure that the provider can assist you with the IT and accounting integration.
Cyber-attacks have increased multifold during the COVID-19 pandemic. Moreover, 43% of cyberattacks are aimed at small businesses, but only 14% are able to defend themselves. Data security is the biggest concern when hiring an outsourced accounting partner, and the last thing you want is outsiders accessing your confidential business data. Make sure your accounting and bookkeeping partner is using leading cloud-based storage solutions and the latest cybersecurity technology. They should ideally be ISO/IEC 27001 certified, so your information is safe.
At Analytix, we can be that valued outsourcing partner for you. We can manage all of your accounting and bookkeeping functions while you focus on growing your business. For more information on how we can work together, visit us at www.analytixaccounting.com or email us at [email protected].