The Benefits Of Outsourcing Finance And Accounting

Finance office a ‘chaotic mess’

Outsourcers have expanded their offerings to the small- and mid-size company segments and developed solutions targeted toward specific vertical industries. A recent report from the Association of Chartered Certified Accountants (ACCA) found that companies using F&A outsourcing believe they will reduce costs but lose control. However, as they realize those cost advantages, they see that quality is rising because benchmarks are being applied to their performance. In the end, the report concludes, companies could see control was improving, too. Many companies dont realize going in that they manage an outsourced provider more stringently than their in-house resources were managed, Dalal says.

Wilhelm asked about the on-site to off-site ratio. Genereux discussed seasonality, explaining that different times of the year would require more or less on-site presence. The contract would be billed at a standard monthly ratio of on-site to off-site and time will be accounted for. Wilson said he will require monthly reports on the burn rate of the contact. Andrews praised Baystate for the completion of the last contract, where the demands were “excessive.” Wilson and Wilhelm both expressed concern over the lack of respondents to the request for quotations.

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