For businesses well underway in their business lifecycle, we can reduce costs in areas of concern such as administrative cost and efficiency of internal accounting staff and rollup of such costs on the business. We can also fill-in for accounting staff retirement and accounting department downsizing.
The above example illustrates an average base price (left). Your quote may vary more or less (right).
The Management Insights Group Advantage (in blue above)
When considering your costs, hiring accounting staff is expensive as you sum the salary and benefits outlay. There is always the need to get extra duties into the position to help warrant the expense. If you can outsource the accounting function, you are able to avoid accounting salaries and associated expenses, all overhead, while reassigning the extra duties elsewhere or simply reclassifying the position to lower cost clerical, saving you money.
Outsourcing also increases efficiency because the accounting function is handled by outsourced accountants that concentrate only on accounting, your accounting, and nothing else. Further, outsourcing costs less because each accountant team handles multiple clients, creating backup staff and reducing your cost share of that same expertise in addition to the elimination of your benefits related expenses. This saves you healthcare, vacation, bonuses, comp time off, and time-wasted expenses.
In other words, by any metric, the cost savings is huge and translates directly to your bottom line!
Management Insights Group