Cost has historically been the main catalyst that instigates discussions about outsourcing. However, a more recent development highlights the trend toward improving overall business performance becoming the main initiating focus for outsourcing. Business owners want to drive their businesses forward and utilise the external expertise available to them.
Following the advent of online accounting, accountancy and finance practices have adapted and can now deliver virtual finance teams. These teams benefit clients by providing access to a range of highly skilled experts and the latest software in a remote, but fully functioning, finance team. It also provides a dedicated finance team to provide a client with support and advice relevant to them and their business needs. This team of advisors will have access to all relevant business data in “real time”, enabling them to take an active, consistent role within the client’s business. This arrangement creates a collaborative relationship between clients and their professional advisors, generating opportunities for greater flexibility and a genuinely bespoke service.
All businesses are unique and have different needs. Outsourcing, especially in conjunction with online accounting, gives each business considerable flexibility in tailoring the service delivered to them.