Prime Blog

December 2013

The Outsourcing Trend

As the year comes to a close, at Prime we have been looking at the trends that have emerged over the last twelve months.

We talk to many businesses every day, get asked every question under the sun, and have become far more business problem solvers and solution providers, than just accountants.

The main shift we have seen in 2013 is the move to outsourcing. Using technology in a proactive way, niche solution providers can be an integral part of the team without being in the same building or, in some instances, the same country.

So, for example, the retirement of a bookkeeper, internal accountant or credit controller, now acts as a trigger to look at all the alternatives rather than just replace like for like.

Business owners have realised the cost-savings achieved through outsourcing but increasingly value it as a way of reducing business risk, removing the uncertainties or service interruption caused by holidays, sickness or lack of technical skills.

They can obtain a resilient, reliable and consistent service for a fixed cost.

For many the main advantage is allowing them to focus on their business utilising their core skills, rather than getting dragged into recruiting staff to carry out a task which they themselves have no technical knowledge or experience of.

As an example, one real life case study allowed a senior family member to retire as they had the comfort that the day to day admin was in safe hands. Before they realised that outsourcing to an already trusted advisor was an option, they had felt tied to the business which was beginning to affect their health and quality of life.

If you would like to discuss how outsourcing could benefit your business come and see our Virtual Accounts office teams in action.

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