There is a nationwide shortage of qualified accountants, resulting in higher pay and higher demand for these positions. If you’ve got a great accountant on staff, be prepared for a fight to keep them. But if you are in need of an accountant, there’s no reason to think that your only option is to hire in-house.
Outsourcing your accounting services can be a great solution when accountants are hard to find and your budget isn’t in a position to sweeten the deal to win the best talent for your company. Here are some reasons why it is a good strategic move for your business:
Get Exactly What You Need.
Your business has a requirement for specific accounting services, and an outsourcing partner will have the right combination of skills and certifications to provide what you need. It may be much harder to hire someone in-house who possesses the same combination of services you require, but an outsourcing provider will be able to customize your services.
You Could Cut Your Costs.
When you hire in-house, you’re not just paying a salary; you’re paying benefits, onboarding and training, as well as extra for real estate, software and hardware. When you outsource, you save in all of these areas, but you also eliminate the risk of additional costs should your hire not work out as you had hoped.
Your Accounting Services Grow With You.
Working with outsourced accounting services means that you have scalability as you grow. Whether you are currently in a growth trajectory or your industry comes with significant market fluctuations, accounting services can be tailored to what you need and adjusted as needed.
Access to Better Technology.
Working with an outsourcing partner means getting the benefits of their tools. Any good accounting services provider is going to be investing in solutions that offer the latest in automation, streamlining and data analysis that equip you for more insightful decision-making.
Access to Expertise.
Your accounting services provider will be able to quickly and efficiently spot trends and deliver insights that equip you for evaluating opportunities, reducing risk and driving growth. You will work with a team that has a wide range of experience across many industries, providing you with expertise that comes from a variety of perspectives.
If you’ve been experiencing the shortage of qualified accountants in your hiring process, it’s time to pivot your strategy. The Power CFO offers accounting services, but you will also gain a strategic partner who takes a holistic approach to managing your financial operations. Contact us today to learn more.
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