There are many additional benefits aside from significant cost savings.
When you outsource your office administration/accounts you have one less department to worry about and control. You don't have to monitor staff times, sickness etc.
Unfortunately most accounts departments in small and medium sized companies (SMEs) are very poor. Often the Creditors & Debtors Ledgers are a mess. Often the business owners are not aware of this. We reconcile every suppliers’ statement with your own accounts and make sure they agree 100%. We often take over accounts and discover that more than 80% of Creditors Statements do not agree with the firm’s own.
Many SMEs employ unqualified accounts staff for various reasons; family, friends and part time staff. Probably the majority of staff working in UK & Irish offices have no bookkeeping qualifications.
We demand of our staff very high levels of quality and accuracy. And because administration is our business we can do this far better than the owner of a business who has no background in bookkeeping or accounts.
As the business expands, we can take on the extra work without you needing to worry about or hire extra staff.
Outsourcing is now the norm in large multinational corporations. That is because it saves large sums of money. We will save you a minimum of 33% and hopefully much more.
We strive to be hyper-efficient. For example we can “train” your suppliers so that they only issue Purchase Invoices upon receipt of a Purchase Order that will match the Invoice. This reduces the amount of rejections of Purchase Invoices that end up on Query when they are being passed & posted.
We can also train and monitor your other staff such as Purchase Ordering and Sales staff so they cut down on errors which lead to inefficiency.
Most staff in accounts office spend most of their time rectifying mistakes and handling queries. Reduce mistakes and you increase efficiency. If your staff become more efficient you would probably still need the same number of staff. Our costs to you would reduce.
We can introduce Electronic Data Interchange (EDI) which means your supplier’s invoices come via electronic means (a bit like a spreadsheet). These invoices can be processed automatically with little manual intervention.