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Right-Size Your Finance Function

Should you outsource your accounting? As business conditions change, you may find yourself trying to accomplish more daily with fewer resources.

Do you wonder if you have the right number of team members and the right variety of skill sets to ensure efficient and effective performance?

Have you considered outsourcing all or pieces of your finance function? 

Do you know what you need?

Overstaffed? Understaffed? Not the right mix of skill sets?

Typical finance departments are often juggling the day-to-day accounting & bookkeeping responsibilities alongside more complex and time consuming tasks, such as: regulatory compliance; optimizing shareholder value; mergers & acquisitions; data security; leveraging technology & managing the IT investment decision-making process; operational effectiveness & business process improvements; and staying ahead of industry benchmarks.

As business conditions change, you may find yourself trying to accomplish more daily with fewer resources.  Hiring additional employees may not be the ideal solution due to the precious time and resources it consumes—resources that could be diverted to other performance enhancement and/or areas of need.

Augmentation or Outsourcing for talent may be the best solution when:

  • You are missing pieces. Your in-house Accounting & Finance team does not have the time, requisite skills, and/or expertise to effectively execute.
  • You are slow and transactional. Your high-level team members are bogged down and frustrated with simple, yet highly-manual transactions and unable to focus on strategic activities.
  • Talent management is a detraction. The resources required to recruit, attract, and retain accounting & finance talent are distracting from other goals and initiatives.
  • A/P and A/R are inefficient and non-compliant. You need hands-on assistance maintaining best practice payment collection, and disbursement activities to stay liquid, optimize receivables, and manage debt.
  • A supplement is needed for annual or one-off projects. You need specialized resource enhancements periodically for issues such as: budgeting analysis & development; drafting of financial statements and footnote disclosures; preparation, review, and tax analysis; financial statement and employee benefit plan audit preparation; etc.
  • You face growing compliance complexity. Understanding and implementing new accounting standards, such as the Nonprofit Financial Statement Framework, Revenue Recognition, Lease Accounting, etc., can be complex and time-consuming.
  • You need specialized expertise. You require assistance with transactions, such as mergers, acquisitions, divestitures, IPOs, and debt or equity raising.

What other challenges do we see?

  • Accounting & Finance talent is scarce and in high-demand.
  • Salary, benefits, and training expectations of staff are at an all-time high.
  • Overlapping team vacation schedules negatively impacts effectiveness.
  • Employee tenure continues to decline.
  • Time and energy to find replacements is increasing.
  • Effective technical training and/or the transfer of the institutional knowledge is increasingly difficult due to the trends of all of the above.

Many have found that outsourcing with AAFCPAs is a proven way to solve these dilemmas, allowing your organization to be the most efficient, effective, competitive, and profitable it can possibly be.

Consult with AAFCPAs to perform a team assessment of your finance function.  We have the expertise and exposure to best practices to advise and guide your accounting & finance function towards top performance.

Why AAFCPAs Managed Accounting Solutions?

  • We intimately know, practice and enjoy accounting & finance! With AAFCPAs, you have access to 200+ professional members of New England’s preeminent CPA and consulting firm.
  • You will feel confident that the most qualified individuals are handling your financials in an unbiased and objective manner. Our accountants remain up-to-date on all the latest regulatory requirements.
  • We understand compliance and monitor changes in the laws continuously.
  • We eliminate frustrations, cost of trainings, and turnover.
  • Our best practices increase efficiencies and performance.
  • We accurately right-size your finance function, tell you exactly what you need, and eliminate waste.
  • You may access the solutions you need, tailored and scalable to bring you the right expertise at the right time.
  • Cloud solutions save you time and money through efficiencies in processes and reporting.
  • You may choose full outsourcing, co-sourcing, or even specialized resource enhancement to help address temporary staff shortages.
  • Clients are able to downsize or upsize accounting needs without dealing with traditional personnel challenges such as the risks of unemployment claims or the need for new hire healthcare packages.
  • Accounting responsibilities are completed on time. Tasks are streamlined to produce high quality results and include meaningful analytics to help you better understand budgeting concerns and business performance.
  • Managed Accounting Solutions free up the time of busy executives to provide better management of the organization.

AAFCPAs knows what you need. We understand the importance of right-sizing your accounting & finance function to efficiently address your most critical financial processes. This allows you to shift time, money, and other resources to focus on your core competencies, strategic business activities, and vision instead of focusing on administrative functions.