Outsourcing your accounting operations is an important consideration in the trajectory of your organization’s growth. We have outlined 10 factors to consider with the top two factors on our list being time and money as they are both the forces most frequently causing business leaders to seek our services. The other eight factors on our list remain every bit as important. When you view this list in its entirety, you will see what a dramatic transformation could be in store for your organization when you work with Cordia Partners.
Outsourcing your accounting serves to free up valuable time and resources that can be better spent driving strategic initiatives. Because outsourcing provides reliable execution of transactions and scheduled delivery of reporting, organizational opportunities can be quickly identified and acted on.
Many startup organizations turn to outsourcing immediately because they recognize that they are not in the business of accounting and don’t want to spend time hiring and managing administrative staff. This realization is also why more and more established businesses are following this best practice to remain lean and focused.
2. Gain efficiency / reduce costs
Established companies that run an in-house accounting function discover that the move to outsourcing eliminates or reduces inefficiencies that have developed over time.
Outsourcing often sheds light on outdated processes, resistance to needed change, and archaic methods. Very often, in-house technology is grossly outdated. This prevents your organization from leveraging modern technology in a way that would benefit processes and profitability.
Cordia brings the skills, accounting and industry best practices, processes, and systems to address the problem areas and replace them with money-saving efficiencies.
3. Experience / industry expertise
Outsourced accounting services gives you access to our highly skilled staff. Our team has a wide range of experience and understanding of best practices. Outsourcing services are flexible and provide the right level of staff and expertise for the task or issue at hand.
4. Focused Accounting Professionals
Our team stays current with the latest accounting guidance and trends, as well as your industry’s updates, ensuring that with our services you remain compliant. We bring a service-first mentality, mindful of deadlines. We’re here to make it easier for you while earning your confidence by performing as promised and delivering on time.
5. Strengthened Internal Controls
With Cordia Partners handling your accounting, there is an immediate segregation of duties and responsibilities with the appropriate levels of oversight and review of your financial information. We put procedures in place to better protect your cash, thus reducing the opportunity and likelihood of theft or fraud. Additionally, we help you develop procedures for management controls and authorizations, as well as producing documentation for policies and procedures, month-end close checklists, and training manuals.
6. Access to Modern Business Systems
Leveraging the best of today’s technology is another benefit of outsourcing. Cordia Partners gives you access to systems that are configured for your industry and further customized for your business. In addition to more powerful reporting and time-saving features, modern systems bring new, stringent security levels that are not available on legacy systems developed decades ago.
7. Stability / Redundancy
When you work with Cordia Partners, you are not hiring a single individual but rather a company with considerable resources and highly credentialed personnel. Your accounting operations are no longer subject to disruption due to PTO, extended absences, or turnover. You will enjoy stability, and your business will be enhanced by Cordia Partners’ many assets.
Scalability is a powerful benefit for growing organizations because outsourcing allows fractional increases in both staffing and systems. You always have the perfect fit – at an affordable price. Outsourcing allows for service level adjustments without disrupting your business.
9. Information to Knowledge
Timely data better informs decisions and the way you manage staff and resources. We’ll provide the reporting, dashboards, and metrics that your team will value and rely upon for decision making purposes.
Not only do you have access to better information, you have access to Cordia Partners’ knowledgeable senior financial professionals to provide advice and guidance. You’ll enjoy and benefit from a strong underlying financial management system.
10. Peace of Mind
Perhaps the most recognizable advantage of outsourcing your accounting to Cordia Partners is the peace of mind you’ll benefit from. You’ll enjoy the control, clarity, and confidence that comes with knowing that your financial house is in order, and that you have a professional partner committed to your business interests.
If you would like to enjoy the strategic advantages that outsourcing with Cordia Partners offers, let’s talk. What are your challenges and aspirations? We’d welcome a chance to listen and strategize about a solution. Check out our Services Overview.