For the last few years, the murmurs have been growing. The newest trend in accounting isn’t compliance-related; rather, it is an accounting service that provides sleep at night, often quite literally.
Given the ongoing talent shortages, companies are finding it challenging to recruit and retain accounting and finance department staff with the necessary skills to effectively process transactions, provide safeguards over assets, deliver readily available financial information and offer feedback on matters impacting the business. Beyond the management headaches this entails, business owners can also become frustrated by a lack of automation and quick access to vital financial information. One way companies are tackling these challenges is by outsourcing their accounting function.
Lisa M. Cattie, Director, Outsourced Accounting & Finance Services, explains why business owners are choosing to outsource their back-office accounting functions.