Why Outsource with LWI?
Businesses outsource accounting for various reasons, including cost reduction, fraud risk mitigation, and increased focus on core functions. With LWI, you gain reliable outsourced accounting services tailored to your needs, ensuring streamlined processes and time optimization for enhanced core function performance.
No matter your reason for outsourcing accounting, LWI is here to help you achieve your goals and enhance the quality of your day-to-day operations. With our forward-thinking and modern approach to accounting, we provide valuable financial insights that enrich your business’s overall performance. Trust LWI to elevate your accounting experience and drive your success forward.
Dedicated Outsourced Staff with Extensive Accounting Experience
Our highly-trained accounting and bookkeeping professionals are equipped with expertise to service a wide array of industries such as Law Firms, Government Contractors and Non Profit Organisations. This extensive experience has given us invaluable insight into the mechanics, procedures and best accounting practices of these fields.
Leading Edge Automated Accounting Technology
The world is rapidly changing and businesses are migrating towards technology- and automation-based operations. Your accounting should be moving in the same direction, or your business runs the risk of losing out to your competitors. Our team will help you set up the right software quickly and cost effectively to make accounting simple and stress-free.
Mastered Efficiency in Financial Management and Analysis
As accounting and bookkeeping specialists, we have mastered efficiency in financial management and analysis, helping us cut costs and extend those savings to our clients. Our diverse industry experience allows us to recognize and solve common challenges before they negatively impact your business, contributing to your cost savings.
Customized Accounting Systems and Solutions
We have years of combined experience and authoritative knowledge in all aspects of accounting and bookkeeping. Thanks to our broad exposure to the challenges of our clients, we are uniquely qualified to offer completely customized solutions to address any number of financial management situations.
Discover the Benefits of Outsourcing to LWI
1. Small Business Cost Savings
The costs of an in-house bookkeeper or accountant quickly add up. The expenses of a competitive salary and full-time employee benefits (training, healthcare, vacation time, sick time, taxes, etc) can become prohibitive.
Outsourcing accounting tasks to a consulting firm like Lescault and Walderman will help you reduce costs in several ways:
- You’ll pay an all-inclusive hourly price, and only for time worked with no lulls in productivity. You won’t pay benefit costs, employer taxes, education expenses, workers compensation payments, etc.
- If a business downturn hits, rightsizing your accounting outsourcing is easier and more cost-effective than having to lay off a full-time professional. Likewise, if a spike in business causes a sudden change in services required, we can adjust immediately, without incurring costs for interim shortfalls and recruiting, training, etc.
- Because we maintain a qualified and specialized staff, we can help you eliminate costs to recruit, hire, and train new professionals.
- We can perform accounting activities and system management in less time, and develop systems that provide superior services at a significant cost-savings to you.
- We can save you time and money by serving as relationship managers, working with vendors, financial institutions, insurance agencies, etc. to eliminate unnecessary and costly operational issues.
2. Reduce Your Fraud Risk
Companies with fewer than 100 employees often fail to implement formal financial management controls (especially internal audits). They are three times more likely to discover instances of fraud by accident and almost twice as likely to detect fraud when notified by an outside authority.
Even with thorough background checks and cash management policies in place, fraud is still a real risk. When you outsource your financial management to an impartial third party, you significantly reduce fraud.
Lescault and Walderman help our clients reduce fraud risk by:
- Segregating purchasing, receiving and cash disbursement responsibilities
- Implementing secure procedures for receivables
- Verifying the proper authorization of purchase orders and invoices
- Periodically reviewing purchasing patterns and vendor documentation
- Utilizing analytical tools to monitor activity and compliance
3. Focus on Core Functions
Outsourcing your bookkeeping allows you and your staff to harness the power of accounting automation, freeing you up focus on your core business functions. The best way to spend your time is by serving clients, managing operations, and closing new business. As the ultimate knowledge base within your company, the more you invest in and prioritise technology and automatic ways to streamline time-consuming tasks, the greater your success.
Benefits of outsourcing bookkeeping and accounting so you can focus on your core business:
- Allowing outside experts to manage critical, time-consuming tasks means you’re able to spend more time improving products or services and increasing your bottom line.
- By outsourcing your accounting, you can bypass the cost and time spent on continuous financial education and invest in training within your own area of expertise.
- Outsourcing secondary activities such as accounting or HR allows you to invest in your internal production, equipment and procedures, and better navigate periods of growth.
4. Improve the Quality of Work
Most small business owners lack the time and expertise to keep pace with best accounting practices and system options. They often look to part-time staff or internal resources to help them in this area, however, the quality of their accounting operations often suffers as a result. CFO outsourcing is the answer to this problem.
When you outsource your critical accounting needs to an experienced, dedicated firm like Lescault and Walderman, you can rest assured that experts are handling the oversight of your company’s financial data.
Following are a few ways CFO outsourcing can improve the quality of your work:
- Our specialized experience allows us to provide a higher quality of work for roughly the same cost (if not less) without the hassles or legal issues created by mistakes and inexperience.
- Hiring outside experts allows for more efficient and effective use of your financial data, leading to improved processes and controls within your business.
- We work with accountants and financial data on a daily basis and know how to manage them to increase results.
- When you outsource non-revenue-producing tasks like accounting, you free up resources to invest in additional training for tasks related to your business.
Contact LWI Today
Let us help you outsource accounting, lower costs, reduce fraud risk, focus on core functions and increase the quality of your accounting system. We’d love to partner with you to help you scale your business.
Contact us today at 866-496-2042