Small Business Cost Savings
Accounting cost reduction is critical to small businesses. Hiring a staff of specialized accounting/bookkeeping professionals represents a sizable and often burdensome expense to small businesses and nonprofit organizations. Considering the cost of a competitive salary and all of the overhead associated with a full-time employee (such as healthcare benefits, employer taxes, bonuses, vacation time, sick time, training, worker’s compensation, office expenses, etc.), the total price of a single accountant quickly becomes prohibitive.
By outsourcing to an accounting/bookkeeping consulting firm such as Lescault and Walderman, companies are able to benefit from accounting cost reduction in several ways.
- When you engage us for your accounting needs, you pay an all-inclusive hourly price, and only for time worked. There are no benefit costs, employer taxes, education expenses, workers compensation payments, etc., and no lulls in productivity or wasted payroll dollars associated with correcting mistakes, etc.
- If a business downturn hits and financial resources dictate a change, rightsizing your accounting outsourcing is much easier and most cost effective than having to release or lay off a full-time professional. In addition, if the opposite occurs and a spike causing a sudden and significant change in the level of service required, we are able to adjust and fill in the gaps immediately, without incurring costs for interim shortfalls and recruiting, training and management of in-house staff. Our business model allows us to more efficiently adjust to the levels of each company’s accounting needs, without carrying unnecessary staff or experiencing shorthanded resources. We are able to easily reassign our professionals to other projects as needed.
- Recruiting, hiring and training new professionals requires a great investment of both time and money. Because we maintain a qualified and specialized staff at all times, we are able to help companies eliminate these human resource costs.
- Due to economies of scale, we are able to perform accounting activities and system management in a lot less time. Through specialized industry experience, continuous training, and more efficient daily processes, we have developed systems that help us provide a superior level of service at a significant cost-savings to our clients. In addition, our standardized accounting process allows us to deliver consistent service across multiple functions, departments, divisions and regions.
- We can serve as relationship managers for our clients, working with vendors, financial institutions, insurance agencies, etc. This allows them to make more efficient use of their time focusing on core functions, and eliminate unnecessary and costly operational issues elsewhere in their business.
These factors combine to reduce overall costs associated with the management and oversight of your financial data.
Call us today at 866-496-2042 for a free consultation and learn how we can help you enjoy accounting cost reduction for your business.