Why do businesses so eagerly hire external firms to provide outsourcing accounting support?

1. Outsourcing saves time
When dealing with accounting and payroll matters in your business you have to have some sort of control process. You set the course of action, appoint the person responsible for each task, monitor the work and verify its effects. Of course this takes a lot of time and requires a lot of attention, which you can not always afford to give. In the meantime, if you hire an outside firm, it can handle all your accounting and payroll affairs for you and all you will have to do is pay the fees for their services.

2. Outsourcing saves money
Where are the savings when you hire an external firm? Of course, these services are costly, but if you run a trading company or a large company with high turnover, your payroll and payroll obligations are so great that using an outside firm will be cheaper than employing a full time bookkeeper. Additionally, big savings can be made by avoiding expenditures on IT dedicated to accounting and payroll systems. This requires huge outlays for licenses, system implementation, updates and employee training.

3. Otsourcing frees up employees
As accounting and payroll tasks are time-consuming, and as the number of administrative obligations increases with the structure and turnover of your business, your employees need to dedicate an ever increasing amount of their time to such matters. They could utilize their time much more effectively if they could abandon the tedious accounting and payroll tasks.

4. Professional support
By working with an accounting firm, you receive support not only in your daily accounting and payroll operations, but also when you are looking for answers to your questions about tax, legal, administrative, payroll, and many other issues. Often you will not even have to pay any additional fees to obtain such advice as it will be provided as part of the service.

5. You can concentrate on what you know best.
It is no secret that accounting and payroll obligations are time-consuming, often subject to change due to revisions in law and generally require a lot of time. If you can forget all about these problems, you will have the opportunity to focus solely on what you know best - sales, marketing, performance or anything else you specialise in. In this way, the efficiency of your activities improves and you contribute more to your business.