What is accounting outsourcing ?

Three phases of work are required at a professional accountant’s office in order to achieve better accounting management.

The first phase consists of collecting the accounting data through recording invoices, bank and cash movements, salaries as well as contributions. The first level involves checking if the registrations have been carried out correctly: for example, you check the closure of debt accounts, verify the debit and credit balances and reconcile the banks with the statements of account. The second level necessitates a control of income analysis, budget policies, depreciation assessments, provisions, and the valuation of inventories (this stage is often, but not necessarily, carried out together with the client).

As in any production process, even in the case of the accountant the levels of input and control constitute a service with low added value because they include operations that do not require any kind of specialization. In other words, such phases are standards and can be confidently entrusted in accounting outsourcing.

These phases often involve the management of a mountain of paper produced by the accountants’ clients (with preservation of paper both at customers and accountants), fixed management costs of data entry and staff remuneration, the inability to concentrate on the core business (which should often be advised), the inability to manage the deadlines on time.

These issues certainly do not favor the increase of the client base of the professional that should be its main mission.

For this reason, OAC offers to all accountants an outsourced accounting service for the management of all the low value-added activities of the accounting management that represent an important fixed cost and can be carried out externally.

ACCOUNTING OUTSOURCING

What are the advantages of OAC ?

Through relying on OAC for the outsourced accounting service, you can appreciate the following certain advantages for your business as an accountant:

  • Elimination of the paper flow of accounting documents between your clients and your firm and their permanent storage in the cloud on our servers.
  • Ability to retrain the staff who are not dedicated to accounting management by reassigning other tasks to them within your business, thus saving management costs significantly.
  • Transformation of the fixed costs into variable costs, proportional to the number of registrations that will be made on your behalf of the accounting data of your customers: zero registration = zero cost.
  • The possibility of having at your disposal up-to-date data on your customers’ accounts. As a result, you will be able to carry out a verification and analysis with them.
  • Possibility to focus your attention on value-added services such as consulting and devote yourself to extending your user base without consequently increasing the fixed costs that are cut down by accounting outsourcing.
  • Benefit from the expertise and assistance of OAC to maintain process control and ensure high quality standards for your customers.

Any accounting outsourcing service should provide you with these benefits. We can do this because we have staff with 20 years of experience in the field of accounting management and highly qualified technical services.

How does it work ?

The outsourced accounting service of OAC allows all stakeholders to keep under control the accounting management that is carried out by our qualified staff. The accountant is given access to the OAC cloud storage platform so that he/she can activate the document management for each company of his/her client without limitations on quantity or other restrictions.

Our clients can access our platform with its credentials (other than those of the accountant). After digitizing the accounting documents, they can upload them to the cloud so that they are available to both the accountant and, of course, our personnel who will be responsible for their registration.