Bookkeeping and accounting are two very important processes for any business and many companies prefer an in-house team(in some cases even by themselves) over outsourced virtual bookkeeping. A very common question that Outsourcing Bookkeeping firms generally come by is ‘Why should we replace our in-house team to trust an outsourced virtual bookkeeping firm?’ And this is a valid question.
Well, the next time you approach a prospective client and you get the same question, remember the client wants to know what good will trusting an outsourcing bookkeeping firm will do to their business( of course only after they have trusted your firm). They are looking forward to building a trusting relationship with your firm.
Companies are already well-aware of the fact that during recent years, many companies have already switched over to outsourcing bookkeeping and accounting firms, thereby replacing their in-house team but they want to know what benefits will your firm bring in. Just tell them how outsourcing the said services can save their business’ time and money alongside other advantages.
Additionally, once you have told them about the benefits, also let them know how the inexperience alongside other complications of in-house teams can cost your business.
So let’s get started with the benefits that the client’s want to be assured of if they are considering a trustworthy and long-term relationship with your firm:
Why trust a Virtual Bookkeeping firm:
- Save Time:
Being a business owner isn’t easy and time is of the utmost importance where each second counts. Now when businesses have an in-house team, they might end up wasting time on supervising the team. For business owners who prefer doing their own bookkeeping, it is even more time consuming and therefore, outsourcing a virtual bookkeeping firm becomes even more crucial. When a client outsources their bookkeeping needs, it frees up valuable time for them which can be invested in growing the business.
- Save Money:
When a company hires an accountant or even handles their accounts by themselves, a considerable amount of money needs to be invested in training and developing skills of the individual. But with a virtual bookkeeper, all you need to do is just pay one-time and leave everything on the firm. Moreover, full-time CPA’s will always cost much more than outsourcing a bookkeeping firm.
Companies don’t want their financial status to be leaked or discussed within the organization as it may create differences among the employees. With an in-house team, there is always a fear of such details being discussed but when an outsourced bookkeeping firm takes over, all the data is shared between the client and the firm, thereby eliminating such fears.
- 24/7 Availability:
Accountants or in-house teams may not be available at all times. However, that isn’t the case with online bookkeeping firms since they are available at all times to answer any queries their clients might be facing.
Let the professionals handle their job!!
Yes, that’s what virtual bookkeepers have to offer, ‘expertise.’ Skilled professionals with years of industry knowledge are always better than doing your books on your own. Even in in-house teams, there can be loopholes that will again consume your time when you have to supervise them. So why not be tension free and not worry at all.
Disadvantages of an In-house Team:
- Inexperienced (Experience is costly)
- Overhead costs like payroll taxes, health benefits, compliances, etc
- Hiring cost+training cost+management cost
- Less or no control since you too aren’t an expert
Companies may think that with an inexperienced in-house team they are saving money but it is too risky since every business stands strong on the pillars of bookkeeping and accounting and a single mistake can even cost them their business. Companies should understand that a trusted online bookkeeping service will only do more good than harm and yes it isn’t costly.