There are two sides to accounting. On one side there are the routine processes, things like payroll that happen the same way over and over. On the other side are business opportunities that accounting enables, dynamic forces that change constantly.
Most companies learn how to put their average accounting processes on autopilot, often by outsourcing them. Unfortunately, the strategic side of accounting is a lot harder to plan and manage. Companies typically don’t know what kind of resources and expertise they need in advance. Then, when those requirements become clear, it’s often impossible to hire specialized accountants quickly or affordably. The lack of in-house expertise leaves companies with questions they can’t answer.
Instead of struggling to generate insights on their own, many companies are turning to outsourced accountants. In addition to helping with routine or large-scale accounting workloads, the best of these firms can provide companies with access to specialized accountants who have unique experience and expertise. In practice, partnering with these experts through an outsourcing firm makes far more sense than any of the alternatives:
Get Insights Immediately
Business opportunities are often time sensitive. Companies can’t wait to act, but they also can’t move forward feeling confident they’re acting correctly. https://www.cdhcpa.com/blog/when-you-cant-find-talent-outsourcing-is-ideal/ so that companies can explore these issues as soon as they become relevant. Compared to hiring an accountant or finding a consultant (which can both take months), turning to your outsourcing partner takes a fraction of the time.
Access Affordable Expertise
Accountants are in short supply right now, meaning that hiring one, particularly a specialist, takes a lot of time, effort, and investment. Complicating matters is the fact that specialized accountants may only be necessary temporarily, for one year or six months. Rather than throwing the staffing budget out of order, companies can pay outsourcing firms to access the experts on their staff. In total it costs significantly less, plus it eliminates the need for a difficult recruiting process.
Stay Agile and Adaptable
Today’s companies need to stay lean to stay competitive. Right now there is an equal amount of uncertainty and enthusiasm as markets evolve and industries get disrupted. In that context, the biggest advantage a company can have is being able to adapt on the fly. Hiring specialized accountants equips companies for the past. Working with outsourced accountants instead ensures they’re always equipped for the future. Whatever expertise is necessary – from tax advisory to compliance guidance – is available without companies having to plan for it in advance.
Outsourced accounting firms distinguish themselves by meeting as many client needs as possible. They can handle the day to day workflows as well as the more esoteric areas of accounting. In that way, these firms become the perfect complement to their client’s wants and needs. Accounting is unlimited by anything.
When you’re ready to put an end to uncertainty, CDH can help. Contact us to learn about our roster of specialized accounting experts.