5 min read
- Do it yourself or give the responsibility to a current employee
- Hire a dedicated accountant or bookkeeper in-house
- Outsource your accounting function to a team of experts
Outsourcing doesn’t mean offshoring
When we talk about outsourcing your finance function we don’t mean sending all your accounting responsibilities to another country. We call that offshoring, and though offshoring is an option on the table for some business processes, there’s a distinction. Outsourcing means you’re contracting work out to a third party company.
Outsourcing doesn’t mean “less personal”
It may be more tempting to think you’d have more of a relationship with an in-house employee, but when you outsource your accounting to Golding, we become like an extension of your team. Whether you just need support with the bookkeeping for now, or you’d like us to take all the financial stuff off your hands, we’ll be your dedicated partners.
Four reasons why outsourcing may be more beneficial than hiring
We see four major reasons why outsourcing is the most beneficial option for growing your business, and meeting your obligations.
1. Save your dreams
2. Save your sanity
If you didn’t go into business to be a bookkeeper, accountant, financial adviser – it’s likely you don’t enjoy the tasks you’re obligated to carry out. Some business owners are content doing the books themselves at the start, and that’s fine! We have clients who handle the books, but need the reassurance of a review from us, to feel secure they’re doing things right. You don’t want to be worried about penalties and inaccuracies. You want numbers you can rely on. Numbers you can make strategic decisions with.
3. Save your time
Your time is your most valuable asset. How are you spending it right now? To extract as much value as possible out of your every day, you want to spend on business strategy and team, and delegate the rest. Though some input will be required from you when you outsource, you become more of an overseer than the person doing the financial stuff. When you outsource to us, you all gain the benefit of using the best technology to get the accounts done. Data entry becomes so simple because of the tech we use.
4. Save your money
Though hiring in-house may seem like the standard way of growing a team, there are costs involved with employment. For the cost you’ll be paying for one employee’s salary (plus benefits) you can get support in all areas of the finances from an accounting team. You won’t need to think about training them up, or how you’re going to develop them in their career. All the expertise is there, ready for you to utilise.