Accounting & Finance

The benefits of outsourcing finance and accounting operations for your business

  • 4 min Read
  • February 1, 2022

Author

Escalon

Table of Contents

​​The finance and accounting functions of a business are complicated yet critical. While one can always hire an in-house accountant, another option to consider is to outsource the finance and accounting functions. 


A specialized accounting outsourcing firm can give you back time and peace of mind by taking care of such back office functions as finance and accounting so you can focus on growing your business. It also allows you to enjoy benefits including cost savings, security and confidentiality, access to the latest tech tools, among other features.



Schedule a call today

Take a look at 10 key benefits your business will enjoy by shifting to outsourcing:




Significant cost savings

– According to salary.com, the average salary for a CFO in the U.S. is $399,879, as of December 27, 2021. By outsourcing, you get access to CPAs, chartered accountants and expert accountants at a much lower cost, without compromising on quality. You also get to save on employment taxes, infrastructure fees and other overhead costs.


Enhanced data security

– Outsourced finance and accounting services firms can put measures in place to handle the serious data security threats that exist, and they typically invest in robust, impenetrable and expensive security systems. This can help mitigate the odds of compromised security programs and data breaches.


Flexibility and scalability

– By outsourcing to a company that specializes in finance and accounting services, you can avail a solution that is customized based on your requirements. You can also scale up or down the financial and accounting processes as per your requirements.


Stay abreast of the latest policies

– A specialized finance and accounting outsourcing company will always stay updated with the latest compliance and financial policies and other accounting rules.


Talk to us about
how outsourced finance and accounting services can help your business run lean.


Access to latest tech

– A financial outsourcing company invests in cutting-edge technology and software to stay competitive. In addition, if finance is not your primary function, then taking on this type of investment by yourself makes no sense. When you work with an outsourcing partner, you have access to the latest technology for no additional cost. 


Reduced fraud

– While fraud can never be ruled out completely, a dedicated team with expertise in accounting best practices keeping an eye on every transaction is far more likely to spot an anomaly than someone whose focus is on building sales and growing a company.


Round-the-clock service

– When you outsource your accounting and financial functions to a third party, you can keep your company operations running 24/7 with a time-zone advantage. You can rest assured that all major tasks will be completed according to schedule and on time.


Protection in down economic times

– As situations change economically, companies tend to change their workforce, which can be a challenging and resource-intensive process. This has been apparent in the last two years of the COVID-19 pandemic. But since the responsibility of managing the talent assigned to a project lies with the outsourcing company, you do not have to make any decisions regarding its internal workforce or pay to retain employees.


Security and confidentiality

– Because finance and accounting are their core products, a finance and accounting services partner ensures that your information remains confidential and secure. You can ask them to sign a non-disclosure agreement for your peace of mind.  


Focus on core activities

– Having reliable back-office support allows you to focus on tasks that generate revenue, such as business development and strategic decision making.

Want more?

Escalon has helped over 5,000 companies across a range of industries to optimize routine business functions, like accounting and HR.
Talk to an expert today.


Schedule a call today

Talk to our team today to learn how Escalon can help take your company to the next level.

  • Expertise you can trust

    Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.

  • Quality and consistency

    Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.

  • Scalability and Flexibility

    Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.

Contact Us Today!

Tap into the latest insights from experts in your industry

Leadership & Growth

Implementing Lean Management Principles in SMBs

“Lean management” might conjure images of big manufacturing plants fine-tuning assembly lines, but the principles of lean are highly relevant...

Read More
People Management & HR

Developing a Competitive Compensation Strategy for SMBs

For small and medium-sized businesses, a competitive compensation strategy is key to attracting and retaining the talent needed to grow...

Read More
Accounting & Finance

The Role of Financial Reporting in Small Business Growth

Financial reporting often appears to be a routine exercise, but for small businesses, it can be the difference between reactive...

Read More
Accounting & Finance

The Impact of Accurate Financial Operations on Business Success

Financial operations encompass the systems and processes that govern every monetary aspect of a business—from managing payables and receivables to...

Read More
People Management & HR

The Benefits of Outsourcing Payroll for Small Businesses 

For many small business owners, running payroll is a time-intensive chore that requires meticulous calculation, familiarity with tax codes, and...

Read More
Accounting

Introducing C3: Your All-in-One Financial Management Platform

Managing your business’s finances can often feel like juggling too many tasks at once, especially when you’re trying to keep...

Read More
Accounting & Finance

Tax Planning Strategies to Maximize Small Business Savings

Small business owners often grapple with tax obligations that can swallow a large portion of their profits if not managed...

Read More
People Management & HR

Streamlining HR Processes, Best Practices for Small Business Owners 

Human Resources (HR) might feel like an afterthought for many small business owners juggling day-to-day demands, yet it has a...

Read More
People Management & HR

Leveraging AI for Efficient People Operations

Artificial intelligence (AI) isn’t just for tech giants anymore—it’s increasingly accessible to small and mid-sized businesses seeking a competitive edge...

Read More