Here in the Albieri and Associates blog, we have already touched on the importance of the accounting, tax and financial departments at a company, and that one of the ways to upgrade employees and get even better results is by outsourcing all or part of the staff. However, many business owners still have a hard time identifying the right time to make this decision.
So, we have listed several tips that will help you keep an eye on your accounting, tax and financial departments and understand when it’s the best time to outsource your team. Take a look here:
What you need to note
The first step is to take a look at measurements such as the amount of overtime, layoff and hiring flows, the time taken by employees in performing day-to-day tasks, and whether they are investing some of this time on more strategic activities. Accounting, tax and financial departments can and should add value to the company. As important as this, it also needs to avoid incurring risks due to a lack of compliance with tax and labor legislation, which shift on a daily basis. Only then can you get a sense the quantity and quality of the work being done at your company and figure out if outsourcing can provide advantages to your firm.
What an outsourced staff does
When outsourcing activities, the business owner will have a team that can help out in any number of circumstances, such as: cover for in-house employees during leaves of absences or assigned to developing projects, serving at external audits, due diligences, tax audits, and others. Find out more about the features and benefits of outsourcing here.
What to do for outsourcing
After assessing your department and opting to outsource activities, the next step is to look for companies that perform this type of work. It’s crucial to be aware and to make sure that the chosen company complies with outsourcing laws, is recognized in the market and, most importantly, possesses the experience and a methodology for deploying projects and services. After selecting your partner, a service level agreement (SLA) will be signed and will regulate all the activities that will be carried out along with the outsourcing company’s KPIs (key performance indicators). Periodic checklists will be carried out to monitor activities and evaluate the quality of the output.
Good results – skilled workforce
One of the advantages of outsourcing services is having intelligent and skilled labor. In the case of outsourcing employees for a financial, accounting and/or tax department, an outsourcing company needs to make sure that their employees are well-trained and can provide all the necessary support to do a good job.
In Albieri and Associates’ case, we offer trained professionals with many different levels and expertise in the accounting, financial and tax fields, and are also able to work in different sized companies and in any economic sector. To find out more about our work, follow our blog here.