As a small business owner, you realize the importance of keeping your overhead costs as low as possible. You probably are spending lots of your time keeping a close eye on your expenses and might even do your bookkeeping yourself using QuickBooks or alike tool. You are a savvy business owner that recognizes the importance of accurate and timely accounting to keep your business moving forward.

As a business grows, we see owners being pulled in different directions and wanting to focus their time on the core of their business. The bookkeeping gets pushed to the side and often becomes a late-night task. In fact, as a business continues to grow many owners realize they have outgrown bookkeeping altogether and need more robust data that comes from management accounting. Management accounting is the provision of financial data and advice given to a company for use in the organization and development of its business.

When a small business or nonprofit is in a growth phase you need basic financial reporting for compliance and making sure your business is up-to-date. Management reporting is used to forecast and make business decisions backed by real-time data and key performance indicators.

So how do I know when I should outsource my accounting?

If one or more of the following triggers have occurred you probably are ready to rethink your current accounting solution:

• Reaching $1 million in revenues
• Employing eight to ten people
• Accepting outside investor capital
• CEO can no longer be involved in every aspect of the business
• Entering the accelerated growth stage of the business lifecycle
• Needing to get more out of QuickBooks than billing and collections
• Wanting technology systems to interface and talk to each other
• Requiring more sophisticated financial reports for data-based decision-making

If you are a business owner who is serious about their growth plan, then you will find that outsourced accounting can give you the competitive advantage that you need, without an upfront investment.

What can I gain from outsourced accounting?

According to The Outsourcing Institute, businesses choose to outsource to improve their core business focus, to avoid the risk and costs of hiring more employees, and to gain access to outside expertise that they could not afford otherwise.

Benefits of outsourced accounting:

• Allows business owners time to focus on their core business
• Removes in-house burden
• Gives you access to CPAs at all levels on an as-needed basis (CFO, Controller, Staff Accountant, etc.)
• Compliance vs Reliance
• Decision ready financial intelligence
• Increased operational efficiencies
• Peace of mind

Why outsource accounting with ProNexus?

Business Process Outsourcing (BPO) is a fast-growing business solution. Increasingly, businesses, both large and small, are turning toward outsourcing as their preferred solution—with accounting being one of the primary outsourced tasks.

ProNexus’ customized management reporting and KPIs help clients drive performance and profitability through data-driven decisions and accurate accounting.

If you are interested in knowing "What to Expect" when contracting for Outsourced Accounting services, download our free whitepaper.