There is a growing trend of outsourcing non core business services such as bookkeeping and other administration functions such as payroll and computer support. Outsourced bookkeeping can lead to savings of up to 40% compared to hiring an onsite bookkeeper.
How does the outsourcing option work? There is no one method of outsourcing your financial record keeping. Bookkeeper Melbourne Co provides a business friendly outsourcing option which allows for physical collection and return of documents or fax/scanning of documents. This allows for personal contact with the bookkeeper to discuss any issues. This represents more of a hybrid option with some onsite and offsite bookkeeping to minimise the demands of the business owner.
Outsourcing your bookkeeping can be very effective for businesses looking to keep their overheads to a minimum cost. The cost of having a bookkeeper onsite can be expensive if you have to pay for idle time. A recent survey suggests that at least 30% of the time of a bookkeeper working onsite can be eliminated without loss of productivity.
Why is outsourcing more cost effective? It’s a well known fact that a fixed price quote is a lot more economic than having to pay for someone on a hourly rate. Quoting is standard across all industries and bookkeeping is no industry. The tendering out of work means that bookkeepers have to be compete on price not just on service to win the work. Outsourced bookkeeping results in the most cost effective outcome for small businesses trying to make the most out of all their resources.