10 Signs You Should Invest in Accounting Outsourcing

Outsourcing is a common cost-effective method of getting more work done in your business. However, utilizing it correctly can be difficult. Most business owners will see outsourcing as an unnecessary expense because they feel like they should prioritize hiring employees instead of relying on a temporary employee. However, outsourcing can be one of the most effective ways to improve your business, especially when it comes to bookkeeping and valuation.

If you’re on the fence with accounting outsourcing or want to learn more about it, then here are 10 signs that you should invest in it.

1. Your business is growing too fast

If your business is growing incredibly fast then it’s a good idea to hire an online accounting and bookkeeping service to help you keep up with the demand. While it’s great to hire long-term employees to take care of the work, you need to understand that training and hiring an employee takes time, and that doesn’t include actually finding them in the first place. With a cost-effective accounting outsourcing service, it’s easy to accommodate your business growth without overspending your capital.

2. You’re focusing too much time on your accounting

Even if you think you can handle your financial obligations, it’s important to remember that dealing with it can take up valuable time that should otherwise be used on things such as making important decisions in your company or networking with new clients and industry figureheads. The less time you spend on accounting, the faster your business will grow. While it might seem like an expense you can’t afford, you’ll be surprised at how much more potential your business has to grow if you’re allowed to focus on its growth instead of managerial tasks.

3. Your accounting and finance software is slow, inefficient and outdated

If you’re vigilant about your financial obligations then you’ve probably already got some kind of finance or accounting software. However, there’s a good chance that it’s completely outdated and too inefficient to be worth the time spent on it. Online accounting and bookkeeping services are far more efficient and can provide you with up-to-date data visibility and reporting. If it’s been a while since you’ve updated your accounting processes or if you’re still using old software due to outdated advice, then it’s a good idea to look at what options you have now in order to make the entire process more efficient.

4. You’re not a mobile business

If you’re not a mobile business then it might be time to consider the advantages of moving your services to the cloud. It allows for better collaboration, it gives you more employee flexibility and will ultimately save you a lot of money. Hiring an accounting outsourcing service is a cost-effective way to go remote, but even if that doesn’t interest you, making your business more flexible comes with many compelling advantages if you’re willing to accommodate the change of pace.

5. You don’t have a way to keep track of your data

If you don’t have a simple and stress-free way to access your financial data, then it can be hard to make informed decisions regarding your company. An outsourced online accounting and bookkeeping service can help you keep track of that data, giving you access to it no matter where you are. If you’re finding it difficult to track the flow of financial data coming in and out of your business, then hiring someone to do it for you is perhaps the best option.

6. You have no way to visualize your data

Being able to digest your data is just as important as tracking it. After all, looking at a bunch of numbers is hardly going to help you if you don’t understand what it means. Accounting outsourcing can help you track and visualize your data to make decisions much easier to make and to keep you informed about how your business is doing.

7. You’are unsure how to analyze your data

But even if you can track and visualize your data, some business owners just aren’t sure how to actually make use of it. Outsourced accounting services can also provide you with insight and help you make informed decisions regarding the future of your business.

8. You’are overwhelmed with managing your employees

If you spend far too much time juggling your responsibilities and managing employees then you might find it beneficial to hire an outsourced accountant to help offload some of the work. It gives you more time to think about your other commitments in the company and is a cost-effective way to help you focus your attention on important business-defining tasks.

 

9. You find it difficult to make CFO-type decisions

Outsourcing your accounting can give you outsourced or fractional CFO can give you the insight and benefits of CFO-level service without the costs of hiring an employee to do it full-time. Outsourced accounting is usually very customizable, allowing your fractional CFO to meet the requirements of your company.

10. Your Monthly or year-end reports aren’t being finished on time 

If you’re struggling to complete financial reports on time, then it may be because you’re not getting them done efficiently enough. This could be because you simply don’t have time because you’re juggling other commitments, or it could be because you just don’t have the staff to do it. Outsourcing your accounting could help you resolve this and get all of your reports finished on time.

Hopefully, these 10 signs have given you some insight into how useful accounting outsourcing can be and how much assistance it offers you.

 

Read more...

10 Ways Outsourcing Helps Your Business and the Economy

Outsourcing has become more and more important over time. As everything has slowly grown more digital, it has become easier than ever to using outsourcing services for a variety of purposes. From manufacturing to marketing, businesses can outsource anything that they can’t afford or can’t justify doing themselves. Outsourcing is good for businesses, and it can benefit the economy too.

1. Be More Competitive

One of the ways that outsourcing helps the economy is by allowing businesses to be more competitive. When a business can outsource to foreign markets, they benefit from both selling and hiring within these markets. Cheaper labor, manufacturing, and materials from emerging markets allow businesses to lower the cost of the products that they then ship back to the United States (or wherever they are based). This makes their products more affordable, keeping costs low for consumers so that they are able to spend their money. Restricting outsourcing could mean rising prices, as companies are forced to bring their labor and other resources back home.

2. Do Things You Otherwise Couldn’t Afford

Outsourcing allows companies to do things that otherwise might be too expensive. They don’t even need to look to foreign markets to make savings. Often, it’s more affordable to outsource a particular aspect of a business than to make permanent hires or even hire temporary staff. Things like short-term projects, fluctuating workloads or just growing areas of the business can all be carried out more affordably with outsourcing. Many businesses are looking for support in certain areas, such as information technology or marketing. Selecting an outsourcer gets them the expert help that they need but makes it much more affordable and lets them try something out before making a commitment.

3. Increase Productivity

Increased productivity often goes hand in hand with outsourcing. Businesses can be more efficient and use both their time and money better. Outsourcing helps to take some of the workload from permanent staff, allowing them to concentrate more on their main roles. It also means that more work can be done for less. When using an outsourcing service, a business might be able to make twice as many products or serve twice as many customers for only a fraction of the price. Whether manufacturing or customer service is outsourced, it grows a company’s workforce without the need for permanent new hires.

4. Connect with Specialist Resources and Services

Outsourcing allows businesses to connect with specialists and experts immediately. Using an outsourcing partner, a business can have access to people who know what they’re doing. You still need to vet any potential partners, but you don’t have to go through a complete hiring process or provide training to the people you work with. Some amount of onboarding could be required, but you can generally be confident that you’re working with experts in their field. You can easily check reviews and testimonials, which can be simpler and more transparent than checking references for new hires.

5. Reduce Risk

Every business has to face risk, but reducing it where possible (without being too safe) is useful. One of the good things about working with an outsourcing partner is that they can help you to manage risk. They know that their area of expertise carries risk with it, just like any other, and they’re also practiced in managing that risk. They know more about their field than you might, so they’re prepared to make better decisions to avoid and reduce risk, as well as manage any possible repercussions.

6. Control Hiring Costs

Taking on new employees is expensive. As well as paying their wages, there are various other expenses to pay, from recruitment to taxes and workspace. It can take a long time before small businesses are able to grow their number of employees. Outsourcing makes it simple to control costs for hiring and labor. Businesses can outsource to companies that hire their own employees or to contractors and self-employed individuals.

7. Starts Projects Faster

Short-term projects that will soon be over can still take a long time to plan. If you need to hire people just for the project, it can take months of planning and organizing. Outsourcing lets you get started much quicker. When you start a new project, you could find the people you need within a couple of days. And if you have worked with them before, you only need to get in touch and check their availability.

8. Make Your Business Look Bigger

Outsourcing can help to level the playing field, allowing small businesses to look bigger without having to be bigger. It means that small businesses can get access to experts in different fields and plenty of different resources and they don’t need to hire the right talent permanently. A small business can add a huge team of people to their workforce for a lot less money when they use outsourcing.

9. Have More Choice and Flexibility

Businesses have a lot more choice and flexibility when it comes to choosing outsourcing partners. If you hire permanent staff, replacing them is often difficult and expensive. But when a business outsources, it can benefit from a huge range of choice. It’s easy to compare different vendors and find the best one before discussing your requirements. You only need to pay for what you need, and it’s easy to end your working relationship too.

10. Concentrate on Your Core Business

Using outsourcing partners can reduce the number of distractions and the workload that a business faces. They can hand off some of the time-consuming tasks that they need to do to experts who can handle them better. This allows business owners to concentrate on managing the core of their business. Instead of trying to carry out activities like marketing, and trying to educate themselves on the topic at the same time, they can leave it up to the people with experience. Focusing on growing their core business is a more productive use of time.

Outsourcing helps your business and the economy. Start benefiting from outsourcing today.

Read more...

The Ultimate Cheat Sheet On Video Editing Outsourcing

Video plays a crucial role in modern business. It can be used for staff training, marketing, and a host of other tasks to save both time and money while creating a better impression of the business. If you’re going to incorporate this type of visual media into your operation, however, it’s imperative that you do it well. Video editing is arguably the most significant aspect, as this is where it all comes to life.

Video editing outsourcing allows you to gain the professional results without the need to master editing yourself. When choosing an external company or freelancer to take care of this situation, making the right choice is essential. Here are 10 pointers to ensure that you do.

1. Turn Time

How quickly will my finished videos be delivered?

In today’s world of modern business, the need for speed is undeniable. There’s no time for wasting weeks waiting for a project to be completed, which is why you should always outsource to a company that can complete the job in the quickest time possible.

You will inevitably pay a little extra for guaranteed quick turnarounds, but reliable results are worth the investment as it’ll allow you to reap the rewards far sooner. After all, if it tasks too long for those videos to be delivered, they could be outdated by the time they go live.

2. Quality

Will the videos boast that professional atmosphere that the company craves?

A quick turnaround is pointless if the videos look amateurish. A lack of quality will distract viewers, preventing your product from creating the desired impact. As such, it’s imperative that you avoid this problem by outsourcing to a company or individual that provides quality.

Aside from the quality of the videos, you also want to know that they will compress and publish videos in the most suitable manner. On the one hand, you don’t want to compromise quality. On the other hand, though, you don’t want users to wait an hour for large files to download.

3. Skill Set

Do they have the ability to capitalizing on the full possibilities of modern video?

Video editing is a complex job that requires a professional touch. If it were as simple as simply buying a video editing package and putting in a few hours of work, you’d have completed the job internally. You’ve acknowledged the need for talent, so make sure that the experts boast it.

It’s not just a case of cutting clips and putting them into a timeline. Your video editors should know how to add special effects, fix any issues (including with the sound) and publish the final cut for a winning product. You may also need subtitles in various languages depending on the project.

4. Tools & Software

Are the latest facilities being used, or will my videos look a little outdated?

A quality product is one thing, but a quality product that is ahead of the times is another altogether. The world of visual media has evolved at a rapid rate in recent years, and sticking with outdated ideas can hold you back – irrespective of the professionalism used.

Utilizing the latest tools and software enables the video editor to incorporate interaction and other advanced properties that will take your visual media to another level. When the videos are designed with the user experience in mind, you’ll see a far better outcome.

5. Experience

How long has the video editor worked in the field?

While it’s true that some people have a natural flair for video editing, you should know that it’s a job where you get better with practice. It’s a constant learning curve, so choosing an expert with lots of experience will usually result in a better finalized package.

Apart from the promise of a better product, this experience means that the editor knows how to handle setbacks and faults. When choosing inexperienced users, a simple mistake could significantly delay the delivery of your videos.

6. Portfolio

Does the video editor have experience of working with companies like ours?

Aside from boasting general experience, you should seek a video editing company that can specialize in your industry. If you’re creating a video commercial for a sports product, you don’t want the experts to edit a package more suited to a ‘how to’ guide.

Asking potential video experts to show you their work, with a focus on products that are closest to yours, provides far greater insight. If nothing else, this can give you new ideas and lets you point the editors in the right direction of elements that you’d like to see replicated.

7. Additional Skills

Will the video editors merely edit the video, or will they go the extra mile?

Depending on the type of video being used, the editing may not be the final step. If it’s going to be a part of a promotional pack, you may need to think about publishing the video to DVD or a USB stick. Alternatively, password protected web links may be necessary.

A video editor that boasts the additional skills and qualifications in related aspects can open the door to a wealth of new opportunities. Or, if you’re looking to re-brand the entire business, knowing that the company also boasts branding experts and web designers can work wonders too.

8. Team Dynamics

Does the company boast a professional team and good leadership?

Once the project has been handed over to an outside company, you need to know that the leaders within that team will actively drive your videos towards the finish line in the quickest and most professional manner. Poor team dynamics could come back to haunt you.

While you don’t need to know everyone within the company, a little research into the team and how they can actively take care of your video editing needs is essential. If your gut instincts tell you that a better option is out there, they’re probably right.

9. Communication

Will our company know where it stands at all times?

Great communication sits at the heart of all modern business, and your video outsourcing activities shouldn’t be any different. Without the right interaction between you and the video editors, it’s likely that they’ll create the product they want. In truth, they need to produce the video you want.

On a similar note, you should want to be kept in the loop throughout the editing process. Knowing where the project currently stands allows you to make calculated decision in related fields. If nothing else, it offers peace of mind.

10. Cost

Will the service offer value for money?

While all of the above features are crucial, it’s important to keep hold of the fact that all videos are a business investment. It is subsequently impossible to think about the outsourcing process without considering the financial implications.

The cheapest option should not be confused with the most valuable, but you’ll want to analyze the different options to ensure that you get the best possible price. Before doing anything, though, you need to set yourself a budget. Otherwise, you could be asking for trouble.

Read more...

10 Quick Tips About Graphic Design Outsourcing

The process of choosing a graphic design service to outsource work to can be a little daunting, especially if you only know little about the industry. There’s a common misconception that finding the ideal service for this kind of creative work means simply relying on talent. The chances are that you’ll hear from a large number of potential services for the project, but it’s important not to get hung up on talent alone. You may like the look of a certain candidate’s work, but it’s important to be mindful of the other areas that you need to consider. It’s crucial that you focus on finding a service provider who not only offers talent but is also able to perfectly meet your specific project brief.

To help you select the ideal service for your graphic design project, below are ten quick tips that should make the process a little easier.

  1. Choose a graphic design service that understands your business ethos

For your graphic design project to be successful, it’s crucial that you select a graphic design service to outsource to that understands your business ethos. Any successful partnership begins by sharing a range of information about your company’s background and target demographic. You can’t successfully work with a service provider that doesn’t understand the concept that your business runs around.

  1. Provide a quality creative brief

Ensure that the brief for the project provides plenty of detail about your company, the goals of your project, and what deadlines you have in place. It can also be beneficial to mention what qualifications you expect candidates to have, in addition to the years of experience that you would prefer they have under their belt.

  1. Be transparent regarding budget

A mistake that is made all too common when it comes to outsourcing projects is failing to be transparent in regards to budget. If you aren’t clear about what you can afford to spend, you can’t expect to have your project completed within the price range that’s affordable for your business. Don’t list your budget on the creative brief. However, should potential service providers ask what price they have to work with, be open and honest with them about the size of your budget?

  1. Discuss your time requirements for the project

When selecting a graphic design service to outsource a project to, it’s vital that you take the time to discuss the time requirements that you have for your project. Before you start discussing your project, it’s vital that you know what deadline you need it completed by. So that you can be clear from the get-go regarding time constraints. As that way, you can ensure that the graphic design service you choose is able to meet your deadline.

  1. Opt to use a reputable service

Choosing a graphic design service is a tricky job and is not something that you should do based on their portfolio alone. It’s vital that you research each graphic design service that you are considering for the task. What you want to determine is how well-known and reputable they are, in addition to how reliable they are. For every graphic design service provider that you consider, read the reviews of their work online. If you have a particular question that you want answering, consider contacting previous clients of the design service – Facebook reviews is an ideal tool for sourcing these people.

  1. Look for a specialist

To guarantee that your graphic design project is completed to the highest quality possible, it’s important to source a specialist in the area of graphic design that the work lays in. For instance, say you want to redesign your restaurant, you should choose a graphic design service provider that has specialized in the catering industry. Or, say you are launching a website for your new fashion brand, you might want to choose a graphic design service that specializes in fashion. For a project that’s a perfect fit for your brand, working with a specialist in a certain area of graphic design is key.

  1. Question them about your brand

Another tactic for narrowing down your choice of graphic design service is to question potential companies about your brand. If you want to determine which design firms have actually done their research on your brand, asking them a few questions about what your business does is a great step to take. You can also opt to ask them what they like about your business and what makes it so unique.

  1. Relevant industry experience is key

When discussing potential provider’s experience, question them about their relevant industry experience. Ask to see examples of their previous relevant work, so that you can determine the standard at which they work. Quality is key when it comes to graphic design, as if you choose a design firm that doesn’t work to a high-quality, your project may lack professionalism and not be up to the standard that you require.

  1. Focus on communication

Whenever you are working with a service provider, it’s important to ensure that they employ good communicators. It’s impossible to work effectively on a project if the person who you are working with is not able to offer effective communication. Make it clear to potential candidates that you need to outsource to is someone who can keep you in the loop at all times, and ask them how they would do that. How often will they call to update you? When can you expect to receive email reports? Will you be contacted if any aspect of the project changes? These are all crucial questions to ask before choosing to hire a graphic design firm.

  1. Propose a trial project

A simple and effective way to narrow the number of candidates that you have to choose from is by offering a trial project. Ask each service provider if they would be willing to complete a small trial project for you that will be used to judge their work and determine their skills, experience and the quality of their work. Ideally, you might want to offer a small fee for this, to ensure that you are seeing each person’s best work.

Choosing a graphic design service provider for a project is never an easy task, as there’s just so much to take into account. However, the good news is that by taking note of the useful tips above, you can make the process of selecting a graphic design firm to outsource your project to easier and less stressful.

Read more...