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Sep 21, 2020

Business Process Outsourcing Services Save Clients Time, Increase Efficiency, and Support Growth

Victoria PritchardBy Victoria Pritchard


CPAs know better than anyone the ins and outs of their clients. Maybe some spend too much time on inefficient manual tasks, perhaps others lack the metrics to assess their performance and keep pace with rapid growth. In light of the rapid technological advancements in recent years, and their embrace by many CPA firms, today’s business owners have even more reason to consider outsourcing some of their internal functions to a reliable partner. Are you set up to help your clients succeed?

The benefits to your clients of outsourcing are many: remotely accessible information, cost-efficiency, expanded resources, and decentralization of critical knowledge. Here are three scenarios in which outsourcing certain business functions can make a big impact and save time, money, and resources.

Departure of a Controller or Bookkeeper

Whether planned or unexpected, the departure of a controller or bookkeeper (and their corresponding institutional knowledge) can be tumultuous for any organization. But it is also an opportunity to revisit standard procedures, test long-held assumptions, and explore new processes. Don’t let “we’ve always done it this way” stand in the way of improvement, particularly in light of the technology advances of recent years. This is an ideal time to ask your client, “Is this the most efficient way to manage your finances or process payments?” In addition to tapping into new technology benefits and streamlining processes, outsourcing certain accounting functions to your firm will help to decentralize critical knowledge and expertise, enhancing stability and control over finance and accounting functions.

Timely and Accurate Information

Gathering performance data in graphs and chartsStrategic planning and forecasting start with current and accurate financial information. Yet too many companies lack the updated metrics to properly assess financial performance, let alone plan for durable profitability. Outsourcing these systems to a CPA firm using easily accessible automated tools gives business owners and finance leaders better access to performance data and an enhanced ability to pull reports on financial and statistical data, drill down into various functions, and run projections. Your clients will be able to use the technology to glean better insights from all aspects of their finances, including general ledger accounting, month-end close, accounts receivable and payable, and purchasing and expense reimbursement.

Support for Small Businesses or Start-Ups

Small business and start-up owners are often “jacks of all trades” out of necessity, but it is not a sustainable model over the long term. By offering your clients outsourced accounting solutions, you are offering them a way to build a solid financial foundation for quicker growth as well as a way to offload processing, reconciling, and reporting from a very full plate.

Growth in competitive markets requires clear and real-time financial data for nimble planning and strategic decision-making. An outsourced accounting solution provided by your firm can provide just that, along with the insights and analysis from trusted financial professional. A client “going it alone” during a period of growth increases the risk of falling behind, and may result in negative outcomes for a young enterprise.

Every hour is precious for small-business owners. For those clients who spend a few hours a week recording financial transactions, think about how much better spent that time would be managing operations and focusing on growth. By offering an outsourced solution for financial processing and transactions, you will give clients an opportunity to move from the tactical to the strategic.

Outsourced business processes not only give clients an efficient and cost-effective way to gain additional resources and assistance, it also provides an opportunity for CPAs to grow their businesses and enhance their relationships with their clients.


Victoria Pritchard is a consultant with the financial management solutions practice of RKL LLP. She can be reached at vpritchard@rklcpa.com.


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1 comment

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  • Megan McKeown | Sep 21, 2020

    Victoria, 

    Excellent article and couldn't agree more!

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    Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of PICPA officers or members. The information contained in herein does not constitute accounting, legal, or professional advice. For professional advice, please engage or consult a qualified professional.