How Outsourced Accounting Can Support Your Company’s Rapid Expansion
What’s the easiest way for a rapid expansion to stumble? Outrun your accounting capabilities.
When a company is growing fast, bringing in lots of customers and cash, it can feel like you’re on an unstoppable upward ascent. Having money to burn opens new doors and fixes many problems. But it can become a problem of its own if you’re not managing that money effectively.
From compliance violations to financial disasters, insufficient accounting can cause a major disruption. Those disruptions are even worse at companies with momentum because sudden, sweeping financial issues can throw everything off track and make recovery difficult. Bad accounting can spoil the best laid plans. Countless promising companies have fallen short of their potential because their ambitions grew larger than the financial foundation underneath.
The hard part about avoiding this familiar trap is bringing adequate accounting support into the organization. At minimum, a growth company needs an accountant over a bookkeeper. But it’s not always clear what financial skills and staff numbers a company needs, and those requirements can change suddenly. Finding the necessary accountants can also be challenging due to a widespread talent shortage. Prepare to recruit hard and pay handsomely to bring the right people onboard.
Fortunately, hiring isn’t your only option. It’s not even the best option. Companies on a fast-paced growth trajectory can get the scale and specialization they need from accounting by outsourcing it. More than just a way to meet routine obligations, however, outsourcing makes ambitious growth goals far more attainable. Here’s why:
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Keep Administrative Costs Lean
Outsourcing accounting will cost a fraction of an in-house accounting department and make ongoing costs more predictable and manageable. Money saved on staff and operations can get redirected to support growth in other ways.
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Access Assistance and Expertise on Demand
Hot companies will encounter many financial questions and obligations they didn’t anticipate. The right outsourcing partner has the resources to meet any requirement – on any scale and whenever it arises – so that growth can continue without unnecessary financial turbulence.
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Focus Entirely on Growth
With accounting and finance obligations being handled by an outsourcing partner, decision makers can focus entirely on sustaining and scaling growth: an issue that benefits immensely from having undivided attention.
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Act with Greater Insight
Growth also benefits from having the best insights available. Since outsourcing partners have the time, team, and technical expertise to answer any financial question, they equip clients with deep insights, tailored strategies, and expert counsel throughout their rapid expansion.
The benefits of outsourced accounting are clear and compelling, but they depend on having the right outsourcing partner. Most will handle basic accounting obligations. A rare few will serve as true partners who don’t just support growth – they unleash it. Pick an outsourcing partner from the second category – contact Proseer.
