Finance:  The Ideal Outsourced Business Process

Finance used to be "too important" to outsource.  Not anymore - and for good reason.  When you think about it, functions such as financial statement preparation, accounts payable, accounts receivable, general ledger and payroll processing are actually ideal processes to outsource.  While they are critical to efficient day-to-day business operations, they are hardly areas of strategic importance.  Nor do they provide a distinct competitive advantage.  They also have characteristics that make them ideal candidates for outsourcing:

Complexity - Although most financial functions are quite complex, outsourcing is relatively straightforward, especially for small businesses.  By failing to outsource, businesses often have to siphon human and capital resources from their core operations.

Peripheral Function - Unless you are a bank, finance is not your core business function.  As such, resources can be better utilized elsewhere.

Cost - Compared to outsourcing other operations, the start-up costs for outsourcing finance are relatively modest.  Smaller businesses in particular can take advantage of the economies of scale outsourcing offers.

Even businesses with a strong technology infrastructure and skilled accounting staff can struggle to prepare a monthly report in a timely manner or reconcile an invoicing problem quickly and reliably.  In reality, many in-house employees are simply overloaded with other responsibilities and aren't up to the rigorous demands forced upon them by today's ultra competitive business environment. 

Freirich & Katz, L.C. has developed streamlined accounting, state-of-the-art technology and management reporting systems, which are industry specific to our service bureau clients.  The result to our clients has been an average savings of 40%-60% annually of accounting, personnel and related overhead costs. The menu of services we offer allow you to pick which option best fits your individual business needs.