When becoming a business owner through great ideas, products that innovate, or a much needed expertise to offer, outsourcing accounting frees up time, energy, and capital for the entrepreneur to expand their business. By outsourcing accounting, tax, payroll needs, and even the functions of the financial/treasury area, the entrepreneur can schedule time with the essential aspects that motivated him to be a business owner.
For many business owners, who have different professionals helping them with various accounting, payroll, tax, and financial needs, outsourced accounting is an unknown concept that tends to trigger questions, but there's no shame in delegating tasks that are outside the entrepreneur's skill set. Outsourcing accounting is a strategic decision that will not only save time and money, but will also set the company on the right path to success and, ultimately, to growth.
A third-party accounting firm houses all of its financial practices under one roof. Instead of relying on one person to process the payroll, another to do the taxes, and a third to reconcile the accounts each month, an outsourced accounting firm does everything and is a single source that answers all the contracted needs full time.
This streamlined approach is especially significant during tax season. When all accounting needs are fulfilled by a team, business owners are assured that the people who pay their taxes are the same people who review their finances throughout the year. This familiarity means fewer questions and less time spent understanding a year's financial information.
Most people think that accounting outsourcing is just about cost savings. But it's much more than that. Accounting outsourcing helps companies to grow faster, in a sustainable way, also preventing leaders from declining on new projects and new clients, because a complete team of experienced accountants is available, so that their capacity to deliver services is not limited to the time that the entrepreneur has. The company can also benefit from cutting overhead expenses and paying only for the work performed, in addition to reducing the risks of sudden employee loss.
Many accountants are frustrated by the errors, delays, and review needs of their internal team, which means a waste of money. But you can manage an outsourced provider with greater rigor, to not only ensure that the quality of work improves, but also to ensure that you only pay for reasonable productivity, increasing your profit. The company can also provide higher quality of service and allow the introduction of new services to its customers. You can easily adjust outsourcing to your business cycles and earn more without increasing your work.
Another important benefit is that the company increases its valuation due to greater profitability and the difference can be significant. When companies are bought, the buyer looks closely at the profitability of the company being traded. Accounting outsourcing makes the company more profitable than other companies that have not opted for outsourcing, as it increases the company's valuation. Even when raising capital borrowed from banks, a higher valuation may mean better conditions and this also generates savings.
Outsourcing accounting is an easy way to simplify the entrepreneur's life, receive a significant amount of information for decision-making, and obtain assistance with a successful engagement that can be very profitable.
Contact TATICCA — ALLINIAL GLOBAL, which operates throughout Brazil and globally, with integrated auditing, accounting, tax, corporate finance, technology, risk advisory, business consulting and training services. For more information, visit www.taticca.com.br or email taticca@taticca.com.br and learn more. Our company has professionals with extensive experience in the market and has certified methodologies for carrying out activities.
