A recent article in Forbes talked about the benefits of companies who outsource financial and accounting services instead of keeping them in house. A lot of people perceive outsourcing for these services as being an additional or heavy expense that could be unnecessary if you hire correctly in house. Chief Financial Officers tend to see it differently and they believe outsourcing these services results in better efficiency within their company. As stated in the Forbes article, "Driving efficiency is a high priority for CFOs who want to outsource F&A processes, according to an Ovum study of 150 large companies in the United States, United Kingdom and Canada. Most survey respondents saw the main strategic aim of the accounting department as delivering efficiencies, whether that is within the department itself or across the company as a whole." One of the main advantages of outsourcing for these services is that these financial and accounting companies usually have better in house technology than companies with internal accounting departments.
I like the fact that accounting companies are becoming increasingly more sought after for businesses. Companies can build great accounting teams within their organization, but sometimes outsourcing for these services is a better fit. These accounting companies have more of an expertise because they focus solely on that certain function of business.
via Wayne Essex http://wayneessex.net/outsourcing-for-accounting-and-finance/
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