The global outsourced accounting market will mostly grow to $81.25 billion by 2030. In fact, 37% of U.S. businesses are planning to outsource accounting by the end of 2025.
If you’re not one of them yet, you might be missing out. Outsourcing your accounting functions can make a world of difference in your financial management, without the headaches.
Keep reading to see 5 reasons why outsourced accounting might be the next smart move for your business. Also, know 6 questions to ask your potential accounting partner.
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What Is Outsourced Accounting?
Outsourced accounting means you hand over some or all of your financial tasks to external experts. This includes bookkeeping, tax preparation, reporting, and more.
It’s like having an accountant who works for you but without the office space, supervision and managing payroll for them.
5 Benefits of Outsourced Accounting
1. Get Expert Help Without the Price Shock
Hiring an in-house accountant can be pricey if you look at the benefits, payroll taxes, office supplies, etc. Outsourced accounting lets you experience the expertise of professionals at a fraction of that cost. You get all the benefits, without the hefty price tag.
It’s like paying for a luxury car rental instead of buying the car. You get the smooth ride, minus the maintenance fees.
2. No More Bottlenecks During Tax Season
You know how tax season feels, right? Everyone on your team will be scrambling to put the puzzle pieces together at the last minute.
But outsourcing accounting smooths that out by ensuring your financial records are always up to date. No more last-minute tax panic.
3. Free Up Resources for What You Do Best
Suppose your team didn’t have to deal with accounting headaches every month. That time could be instead invested in developing new products and handling customer inquiries.
Outsourcing accounting means your team isn’t bogged down with the nitty-gritty, leaving them free to focus on what they do best.
4. No More “How Does This Work Again?” Moments
Accounting can sometimes feel like deciphering a secret code. You may know about recording expenses, tracking income, and keeping things organized. But the finer details?
That’s where outsourcing comes in. You’ve got experts handling things who actually know the ins and outs of accounting. Instead of feeling lost in the numbers, you’ll have clear reports to show exactly where your money is going.
5. Access to Cutting-Edge Tech Without the IT Headaches
Advanced accounting software is costly and comes with a learning curve. When you outsource, you get access to AI-powered reports and automated workflows. And, all without the hassle of installing or maintaining them yourself. This is why 71% of accountants expect AI to bring substantial transformation to the accounting industry.
You get the benefits of top-tier technology but without the need to train your team or monitor updates.
Ever wondered if outsourced bookkeeping is worth the investment? Yes, it is. Outsourcing bookkeeping services helps you save your money, energy, and even time. And it’s a must in 2025. Know how it works & how to choose the right provider.
6 Questions to Ask Your Outsourced Accounting Partner
1. What experience do you have in my industry?
Make sure your outsourcing partner understands your specific sector and its challenges. E.g., if you’re in healthcare, you’ll want a provider familiar with medical billing and insurance reimbursement cycles.
2. How do you ensure data security?
Your financial data is sensitive. So, ask about encryption, access controls, and how they safeguard your information against breaches.
3. What technology do you use?
A provider should be using the latest accounting software. If they’re not using modern tech, it’s a red flag.
4. How do you handle communication and reporting?
Do they offer regular reports? Can you easily reach them for questions? The right partner should be under your control at all times.
5. What’s your pricing structure?
Some providers offer fixed pricing. Others charge per transaction. Ask about hidden fees and additional costs.
6. Can you handle growth?
Your business is likely to expand, and your accounting needs may change. Ask if the provider has the flexibility to scale their services as your business grows.
Want to know the 5 top things to check when choosing your outsourced accounting partner? They range from SOC 2 compliance to customized solutions. Read our blog now!
How FCS Can Help You with Outsourced Accounting
First Credit Services (FCS) has 30+ years of experience in BPO services and knows that every business has unique needs. We’re here to make sure your financials are taken care of, so you don’t have to lose sleep over them.
In our outsourced accounting services, we combine AI-powered tools and a team of professionals who can help with everything from accounts receivable to tax preparation.
- Accounts Receivable Management Services: We help you manage collections and ensure you receive payments faster and more efficiently.
- Outsourced Accounts Payable: We handle your vendor payments and manage your payables process, thereby helping you focus more on your core operations.
- Income Statements and Tax Preparation: We ensure that your financial records are accurate so that your tax preparation is stress-free.
If you’re tired of worrying about numbers, reach out to FCS today. We’ll ensure your business stays on track and ready for the future.
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