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AcctTwo Blog

The State of Finance and Accounting Outsourcing

With new tax laws hitting the books, trade relationships evolving, and both uncertainty and optimism on the rise, it’s not surprising that accounting is changing. Companies understand that a high performing accounting function is both a strategic advantage and a competitive requirement. And, increasingly, they are looking for ways to improve accounting processes and outcomes without inflating cost or complexity.

A new survey from the Shared Services and Outsourcing Network (SSON) suggests that in-house accounting departments are transforming rapidly. Rather than handling every responsibility on their own, they are relying on third-party support or Managed Accounting Services (MAS) to meet more of their accounting goals.

Topics: business process outsourcing F&A outsourcing BPaaS Managed Accounting Services (MAS)

Technology Is Great, but It's Nothing without the Right People

It's next to impossible to overstate how much technology has (and will) change the face of business. But what is just as remarkable is how crucial the human element remains in offices around the world.

Advances in automation, big data, machine learning, and sophisticated analytics promise to make the impossible accessible. What these technologies will not replace, however, is highly-trained professionals with extensive experience and expertise.

Topics: FAO bpo BPaaS Managed Accounting Services (MAS)

Managed Accounting Services Isn't an All or Nothing Proposition

Today's accounting departments are growing and evolving at a historic pace. Now that every conceivable business process has become driven by data, financial professionals have taken on huge new responsibilities for data management and analysis while still handling GAAP.

Topics: bpo BPaaS Managed Accounting Services (MAS)

The Growing Need for Managed Accounting Services

Data is the currency of the future. The organizations that make the most of the information flooding into their offices gain a distinct competitive advantage and lay the foundation for sustained success.

The challenge, however, is that data has no value unless it's tracked, stored, managed, and analyzed carefully. And while most companies have more than enough data to work with, few have the resources necessary to leverage it successfully.

That forces ambitious companies to make a difficult choice – add expensive new staff and technology to the ranks, or risk losing out on the next big opportunity. In order to resolve this catch-22 scenario, consider a third possibility.

Topics: bpo Business Intelligence / Analytics BI BPaaS Analytics-as-a-Service Managed Accounting Services (MAS)

Managed Accounting Services: It's About Adding Value

The common line about Managed Accounting Services (MAS), also known as Business-Process-as-a-Service, BPaaS, or Business Process Outsourcing for accounting and finance, is that it's mostly a way to cut costs. But that's like saying the best thing about not having to sleep much is that you save a ton on bedding. It misses the point.

It's true that MAS can have a real and ongoing impact on budgets. In practice, however, enterprises realize value in many ways. MAS is less a way of keeping costs in check and more a means to optimize everything you do. Here are some examples:

Topics: bpo F&A outsourcing Outsourcing BPaaS Managed Accounting Services (MAS)

Video: Managed Accounting Services with AcctTwo and Intacct

AcctTwo's customers (Bill Weathersby of Energy Water Solutions, Kristi Lanier of WUXI Nextcode, and Kevin Doffing of Sam's Safety) discuss the advantages of AcctTwo's Managed Accounting Services and Intacct.

Topics: Videos BPaaS Customer Success testimonials Managed Accounting Services (MAS)

How Managed Accounting Services Empowers You to Thrive with Fewer Accountants

Corporate accounting practices have always been under scrutiny, but in recent years, regulators have stepped up their efforts and looked a lot closer at enterprises regardless of size or vertical. In response, these enterprises have had to bring accountants onboard with the technical expertise to ensure compliance and establish internal governance.

Topics: FAO bpo Accounting BPaaS Busines-Process-as-a-Service

How Can Finance and Accounting Be an Enabler of Growth?

AcctTwo CEO Interviewed on Texas Business Radio

AcctTwo's Founder and CEO, Marcus Wagner, was recently interviewed by Matt Register and Jay Curry on Texas Business Radio. Marcus describes the new powerful Software-as-a-Service technologies available for small to midsize businesses. ERP, Accounting, and Financial Planning and Analysis (FP&A) tools are now affordable and accessible, allowing companies and nonprofits to make their finance and accounting departments an enabler of growth rather than an obstacle to growth.

Topics: Intacct Business Intelligence / Analytics Videos BPaaS Podcast

What is BPaaS and Why Should it Matter to Your Business or Nonprofit?

AcctTwo CEO Shares Insight about the Changing Nature of Outsourcing

Back in March, AcctTwo's Founder and CEO, Marcus Wagner contributed a piece to Accounting Today's Accounting Technology section about the spectrum of cloud technology adoption, and how Houston and Austin, TX are a great representation of how cloud and SaaS have been received nationally. Accounting Today recently asked him to provide some insight into another piece of AcctTwo's business: Business-Process-as-a-Service or BPaaS, and that article was published this week.

Topics: business process outsourcing bpo F&A outsourcing accounting outsourcing BPaaS

Staffing Your Finance and Accounting Department

"If only I had the right people..."

As a small or mid-sized business owner, how many times have you said that phrase to yourself or to others? This concern applies to all areas of your business, but can be especially challenging to the entrepreneur trying to build a quality accounting team because they often times lack the background, expertise, or patience to hire their own accounting department. Not only is it costly and time consuming to find the right people for this critical department, but there's also the challenge of finding the the right balance of skills versus costs. This balancing act becomes even more difficult when trying to staff a small department. How do you staff half of a controller, one quarter of a cash applications person, and one quarter of an accounts payable person, while still providing the accounting expertise for the future? This is never an easy task, even if you can find a qualified person willing to split tasks among different levels of work.

Topics: FAO bpo F&A outsourcing Outsourcing BPaaS Staffing