Outsourcing different functions is becoming increasingly popular for both large and small organizations but is not new for the bookkeeping function. What is new for bookkeeping services is that there are a wider variety of options available. Consider what is important to you as you evaluate the different approaches.
Standard Platform – Packaged Tour Operator
The standard platform model is driven by a Packaged Tour Operator that has streamlined its operations for its own efficiency and in order to take advantage of this approach, you must adjust to fit. This set-up creates many efficiencies but often does not address the unique elements of individual businesses and requires compromises by businesses to make this option work. With this vendor-centric approach, bookkeeping is routine, process-oriented and the work approach is not customized to client needs.
Offshore Remote Resource – Porter
The task-oriented model is supported by a Porter who follows where you lead and will do what is asked of them. While these services may be the lowest in cost, they may also be the least valuable unless you have someone in-house to supervise the work. This requirement is often a challenge for a small business where the goal is to get the work off your plate.
Individual Contractor – Lone Tour Guide
The individual contractor model is likened to a Lone Tour Guide who will serve your needs while accommodating other commitments. This person will be able to customize their service to your business and operate as part of your team. However, with other clients and obligations, there may be constraints to the level of the service they are able to deliver and you have to find a good one who is also available, and that can be a challenge.
Embedded Resource – Business Sherpa
The embedded resource model is guided by a Sherpa who is knowledgeable, reliable and delivers a customized service with the robust backup support of a full team to draw upon if needed. With this selection, your journey will include someone working as part of your team over an extended period of time who shares your business priorities. It’s flexible so you can draw on additional resources for specialized advice or to handle seasonal volume. Every Sherpa is vetted, high caliber and values the BSG approach of putting the client first.
To Sum Up
Bookkeeping is well worth considering for outsourcing and has a well established history. The secret is in finding the right model for you and your business. There are a number of approaches and each has its own value offering. Consider what is important to you. For many, it is important to be able to rely on an experienced bookkeeper who not only understands the nature of their business but is also acting in the best interests of the business.
It is important for you, as a leader, to know that your accounting is being taken care of on a regular basis with regular financial reports. You don’t have to wait until the end of the year for a financial picture. Informed by regular basic reporting, you can focus on running your business and optimize your operations along the way. You can also sleep easier knowing you have the bookkeeping under control. To find out more, contact Business Sherpa Group at [email protected] or (613) 656-3499.
We are happy to help organizations with their financial resourcing needs. We offer bookkeeping services, which can be combined with the support of a Virtual CFO to provide a flexible, scalable, and sustainable solution to meet the needs of small and medium-sized organizations for the long term. Learn more about our service offering.