|
FREQUENTLY ASKED QUESTIONS
I've heard the term "Business Process Outsourcing" - what exactly does it mean?
Business process outsourcing, or BPO, allows a business to focus on core business capabilities, by allowing an outside partner to perform non-strategic business functions. Some of these functions include invoicing, payroll, claims processing and customer support.
What should I consider when deciding to outsource finance
or accounting services?
It is important to identify the core business processes that
are essential to driving revenue. Non-core services should
be considered for outsourcing.
Why outsource? What are the benefits of outsourcing finance
and accounting services?
There are many strategic benefits from outsourcing including
improved performance, profitability, and shareholder value.
More specifically, these benefits include:
· Reduction of employment related expenses and issues
· Gained access to expertise in multiple fields
· Gained independence
· Achieved cost efficiencies
· Greater internal flexibility
· Gained access to advanced technology
· An increased focus on core business
How will outsourcing affect my people?
We can assist you in determining the skills, experience, and
number of people needed to transition your Company to an outsourcing
arrangement. We will then develop an action plan that will
ensure a smooth transition to outsourcing. While implementing
the action plan, it is important that channels of communication
remain open and questions are answered, so that change can
be implemented smoothly without disruption of your business.
Where will the outsourced activities take place?
We can provide our service either at your location or remotely.
After a careful evaluation of your needs, we will advise you
on the most cost effective method of providing these services.
Our goal is to be available and responsive to you, and to
have your information readily available. Regardless of where
the work is performed, you maintain control of the information
and on-site personnel.
Why should I hire Flexible Business Solutions instead
of hiring additional employees?
Flexible Business Solutions offers a depth of skills and multifunctional
experience that is hard to find. For no more than the expense
of hiring one additional employee, you will have access to
the skills and expertise of a staff with over 50 years of
industry experience.
We know what it takes to get the job done and offer a customized
approach to your accounting needs. Whether you require the
ongoing service of a total accounting department or short-term
assistance on a special project, we are your source for accounting
solutions.
You've sold me on outsourcing my accounting. Why shouldn't
my existing CPA do it for me?
Many CPA firms do perform month-end accounting work for their
clients, frequently referred to as "write-up work".
We also offer this service. However, most CPA firms are not
set up to perform the day-to-day accounting for a business
as we are. In fact, performing both the day-to-day accounting
and the audit could be a conflict of interest. In addition,
most CPA firms aren't staffed with personnel that have the
industry experience as Flexible Business Solutions offers.
Having this industry experience helps us to know and understand
the issues you face on a daily basis.
Will you perform the audit of our financial statements?
Performing your day-to-day accounting and an audit could be
a conflict of interest. As a result, Flexible Business Solutions
does not provide independent audits. Instead, we provide the
information that your auditors will find necessary to perform
the audit. Therefore, we will not replace your outside accounting
firm.
When it is time for the audit of your financial statements,
we will have your financial statements audit-ready. By doing
so, we make it easier for your outside auditor to perform
the audit - which should result in lower audit fees and a
quicker audit. We can also answer many of the questions your
CPA will have while performing the audit, which again frees
you to focus on your business instead of dealing with your
CPA.
|
