Strategy huddles, board meetings, and sales conferences are a natural component of many business professionals’ office lives. These calendar appointments are essential to a competent and cognizant office manager, and if done well, are critical to a high performing business.
However, these meetings only consider the forward-facing tasks of a thriving office environment. When looking deeper at what makes a business really come into its own, the all-important all-hands meeting falls away as a somewhat frivolous addition to your office’s schedule. If you’re looking for extra help at your business, you need to know precisely where the action is happening. Read on for the best areas to consider outsourcing.
Your accounting staff
The benign and background tasks usually tackled by your accounting department are where the company makes or breaks. Surprised? You should be — the vast majority of Americans are simply blissfully unaware of the absolutely critical tasks that accountants take on every day at the office. From tax preparation to mailing and filing, accounting departments are the unsung hero of the office ecosystem.
The accounting department that reports to you does much more than you may be aware of. Sure, your accountants handle the “money”. But what does that really mean? For most businesses, this means that they not only pay the rest of your employees, they also buy things for the office. In this regard, you absolutely need to make hiring decisions based on confidentiality concerns. You may not like it if your employees talk to each other about how much they make, but it is a totally disqualifying feature of an accountant to discuss the salaries of their coworkers. If you can’t trust someone with information how can you trust them with your money?
On the flip side of this financial coin: you must rely on your accounting department to make purchases, and often on credit rather than directly from the business account. This means you must employ individuals who use good judgement in making purchasing decisions. The truth is that most Americans are not financially savvy: debt is on the rise and the average American owes $38,000 in personal lines of credit. Not only do we owe more money than ever, the data suggests that the economy is a buyer’s market, meaning that debt will continue piling up for the foreseeable future rather than get paid off.
Whether it’s a new desk to replace one that is falling apart or more shelves for the growing warehouse you need someone who has your confidence to make a cost effective choice that fits within your monthly budgetary restrictions, a feat that is harder than ever. In this regard, outsourcing to accountants can be much more reliable if you can see their experience.
Avoid payment troubles
Something as simple as an outside check issuing service can lighten the load considerably for your most highly emotionally-taxed employees. Outsourcing some of this work is a great solution to an incredibly difficult problem, and something that your accounting team might do or consider regularly anyway. By enlisting outside help for some of your organizational tasks, you can free up much needed time for your in-house team to focus on processing payments or budgetary reviews before a big strategy meeting. There are some incredibly important functions that your team must perform, but sometimes they get lost in the weeds if you don’t help them out.
Likewise, if your team is fantastic at managing operations tasks in the office (like materials procurement for production or office supply refills) but is lacking when it comes tax documentation, then you may want to consider hiring out these tasks to a reputable firm that has an eye for a different set of details. Outsourcing some of your business’ accounting work can serve organizations of any size, and can actually be more cost effective than the massive undertaking of a departmental overhaul. It just makes financial and logistical sense to seek out temporary help for some of your hardest working employees when the going gets tough.