For years, the term “outsourcing” was considered a business faux-pas. Fast forward to today, and the outsourcing of business services has become a game-changer for many firms, providing them with the ability to work significantly smarter, not harder. Today, almost any service can be outsourced, offering firms the opportunity to bridge gaps they may have in resources, personnel and/or skill sets. In this blog, we’ll talk specifically about Ajera Outsourced Accounting Services.
Why Outsourcing, Why Accounting?
Accounting and finance are at the heart of every business and must be a well-oiled machine to achieve and maintain success. Reaching that point isn’t always easy, whether it’s because you aren’t able to find the right talent, don’t have the resources to afford high-level accounting experts, or have simply outgrown your current accounting department. Add technology to the equation and more often than not, firms must make do with inaccurate financial reporting, lack of big picture, and a muddy view of overall profitability, utilization, project performance, and cash flow. By outsourcing some or all of your accounting services, you can experience significant benefits that can elevate profitability and overall success for your firm. Outsourcing provides you with direct access to professionals who live and breathe, not only accounting but also the AE industry and Ajera. This combination of experience and knowledge is nearly impossible to find in one person when you are hiring internally, but through outsourcing, the impossible becomes possible. Now let’s take a closer look at just some of the many positive benefits that result from Ajera Outsourced Accounting Services.
Free Up Valuable Time
Time is money, and it’s a precious resource that can be wasted without the right people in the right roles. Over the years, we have met many, many AE firm principals who have absorbed accounting and finance responsibilities into their roles. These situations can be frustrating, challenging, and negatively impact the growth of the business. Collaborating with outsourced experts gives you an immediate leg up with specialized accounting and technology skills specifically designed for your industry. That translates into less time spent searching for the perfect hire or training personnel and ensuring that people are in the appropriate roles. It also means streamlined processes and workflows that result in faster and more accurate work. Outsourcing accounting services is also an excellent way to complement your current staff, and it doesn’t have to mean replacing staff. Frequently we see firms with overwhelmed accounting departments or staff who aren’t necessarily best suited for an accounting role. Consider what else your current accounting team could or should be spending time on. By outsourcing, you have the freedom to reallocate their time to other responsibilities that contribute to the firm’s success.
On-Time, Accurate Reporting
Frequently underestimated, is the impact of real-time financials. It’s a prime example of how outsourcing can take an area that may not get the attention it deserves and turn it into a game-changer for your firm. Knowing that your financial reporting will be on time and accurate allows you to make critical business decisions confidently. Working with Ajera accounting experts, you have full visibility into every area of your finances so that you can strategize and plan your future. Position your firm for future success now by ensuring that the decisions you make are based on accurate financial data.
Show Me the Money: Cost Savings
Another huge outsourcing benefit is cost savings. We believe that all firms deserve the high-level knowledge and guidance that comes from experts, but the reality is that not all firms can afford to hire an entire accounting staff, Controller or CFO full time. By outsourcing, you receive the exact expertise you need without paying employment taxes, benefits, wages, etc. Additionally, outsourcing is scalable, so you only pay for as little or as many services as you need, for the exact duration that you need. Worry no more about staff leaving or the stress of covering responsibilities when someone is out on vacation or sick. Outsourcing provides a team that works when you work and guarantees a replacement when needed. But the cost savings don’t stop there. Your firm’s technology investment is significant, and getting the most out of your Ajera system is critical. Partnering with Ajera accounting experts allows you to leverage your Ajera system in ways you may not have even known were possible. If you are an AE firm who has given up on having accurate, timely, and concise information to manage your business and projects, then outsourcing is definitely for you.
Firms constantly outgrow their current accounting department, whether it’s general workload, the right person in the right role, the desire for more strategic Controller or CFO skills, or the need for a deeper understanding of their accounting technology. We highly encourage you to consider the outsourcing alternative. If you are curious about the types of solutions available from accounting experts in your industry and your Ajera platform, we invite you to join us on our upcoming webinar.
Valerie Higgins | Managing Director, Project Management & Ajera Consulting
Val’s 25+ years working in and with the AE industry has provided her with a wealth of “boots on the ground” experience that she brings to the table with each of her client engagements. Val specializes in assisting clients with an assessment of their business processes, ERP systems efficiencies, and a passion point – Best Practices for Project Management.