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

Payroll Trends Impacting Accounting Professionals

Running payroll is like mowing the lawn: It’s something every business must do regularly, but no business enjoys. And, like lawn-care, neglecting small details can lead to big problems.

This is one business obligation that is overdue for innovation and disruption. Thankfully, advances in technology combined with new service models are transforming payroll processing. 

Better still, this transformation isn’t limited to larger organizations. Accounting departments at small and mid-sized enterprises are enjoying the benefits while saving time, money, and frustration in the process. A new-generation of payroll processing has arrived. These are its most impressive improvements:

Topics: Payroll and Human Resources Managed Accounting Services (MAS) F&A outsourcing

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

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

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: Staffing FAO bpo Outsourcing F&A outsourcing BPaaS

Ephor Group Chairman Garry Meier Talks About Lessons Learned in the New Economy for SMBs

Ephor Group Chairman Garry Meier Talks About Lessons Learned in the New Economy for SMBs, AcctTwo CEO Marcus Wagner talks about business process outsourcing for SMBs, Intacct Channel Executive Peyton Burch talks about the benefits of Intacct's on-demand accounting and financial management system.

Topics: Blog middle market shared services back office management reporting FAO information systems Intacct Professional Services Industry CFO F&A outsourcing SaaS Outsourcing accounting outsourcing Intacct Media Coverage Software as a service controller outsourced finance and accounting internal controls Cloud computing outsourced back office Videos Accounting compliance bookkeeping

Size Doesn't Matter

I've had many conversations with people about business process outsourcing (BPO) and finance and accounting outsourcing (FAO), and whether a company is either too big or too small for outsourcing to make sense. Some people take the position that smaller companies should outsource, but will get to a certain point where they should really bring their accounting function in-house.

Topics: Blog outsourced accounting middle market shared services back office FAO CFO F&A outsourcing Outsourcing accounting outsourcing controller outsourced finance and accounting outsourced back office Accounting Featured Posts bookkeeping

Here's a Head-Scratcher - The Value of Audited Financial Statements

I met with a banker yesterday from one of the top 3 big national banks. We were introducing him to AcctTwo and our business process outsourcing services for small and medium-sized companies. We thought he would appreciate knowing that his clients could use AcctTwo to generate more timely and accurate financial and management reports, and his bank would get their required financial statements and borrowing base covenant calculations much faster.

Topics: Blog outsourced accounting shared services back office management reporting Fraud FAO CFO Taxes F&A outsourcing Outsourcing accounting outsourcing controller outsourced finance and accounting outsourced back office Audit and Internal Controls Accounting bookkeeping

What Is The Total Cost of Ownership of Your Finance and Accounting Function?

A few weeks ago I wrote a post about the total cost of ownership of your accounting software. As I pointed out, there are many more hidden costs of owning and operating your own enterprise accounting software than many people realize. If you haven't read that post, you might want to read it first, as this post builds on the concepts already introduced there. This post discusses the total cost of ownership of the entire finance and accounting function, including the enterprise accounting software and all the other costs.

Topics: Blog outsourced accounting accounting software shared services back office FAO Software Total Cost of Ownership (TCO) CFO F&A outsourcing Outsourcing accounting outsourcing Software Evaluation controller outsourced finance and accounting outsourced back office Accounting Featured Posts bookkeeping total cost of ownership

Operating in the Fog

One thing about living in Southeast Texas is that you never have to worry about having the same type of weather pattern between October and April. It can be sunny and 80 degrees one day and 45 degrees with a nasty north wind the next day. You never really know what you can expect, so you need to rely on the weatherman or weather sites to help you prepare for the coming days.

Topics: Blog outsourced accounting middle market accounting software shared services back office management reporting FAO Business Intelligence / Analytics CFO F&A outsourcing Outsourcing accounting outsourcing Software Evaluation controller outsourced finance and accounting outsourced back office Accounting bookkeeping