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AcctTwo Blog

Benefits of Outsourcing Church Accounting

At AcctTwo, since our team comes from the faith-based community, we not only understand how important it is for you to focus on your mission, we help you do it!

Topics: church accounting finance and accounting outsourcing Outsourcing accounting outsourcing technology-enabled outsourcing IT Church Accounting Software PEO Outsourcing IT Outsourcing Not-for-Profit and Faith-Based

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)

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

Changes in the Accounting Profession and How They Affect Your Business

As the Demand for Accounting Professionals Increases, How Do You Keep Your Business Moving Forward?

AcctTwo is not just the overall Business Partner of the Year as a reseller and implementation partner for Intacct's best-in-class ERP software. We also provide Business-Process-as-a-Service (BPaaS), known to some as Finance and Accounting Outsourcing (FAO) or Business Process Outsourcing (BPO), where we take on part or all of a midsize company's finance and accounting function. As the COO at AcctTwo, I've spent a great deal of time building our BPaaS team, and I can tell you from experience that finding and keeping great accounting talent is no easy task. A quick search on the internet will tell you that it's not just my problem - it's an industry trend.

Topics: FAO bpo Outsourcing Accounting BPaaS

Outsourcing Entering a New Phase: More Than Lowering Costs, Adding Value

HFS Research and its blog, Horses for Sources, has become the thought leader for information about the outsourcing and off-shoring industry. In a recent article, Phil Fersht, President and CEO at HFS, shared some insightful information about the state of that industry and how outsourcing services buyers or clients feel about their service providers. You can read Fersht's post here.

Topics: Blog Outsourcing Consideration

Bookkeeping Services - the Old Way of Doing Business

When I talk to people in Houston and across Texas about what AcctTwo’s Outsourcing practice does, I often find that people immediately put us in the familiar category of bookkeeping services companies, or compare our services to the “write-up” services generally performed by CPA firms for small and medium-sized businesses (SMBs). When I talk to prospective clients, I’m often told things like, “I already have an accountant,” or, “I’ve been with my CPA for 20 years and I’m happy with him.” I sometimes even hear, “I already have someone who does my taxes.” These types of responses let me know that the person I’m talking to doesn’t understand what AcctTwo does, which of course tells me we need to do a better job of explaining our value proposition and how it’s different from the traditional bookkeeping or write-up model.

Topics: Blog Outsourcing bookkeeping services accounting process outsourcing Featured Posts Awareness

Charity Finances - an Article with Great Resources

At AcctTwo we feel it's always nice to find great sources of information for our customers. The article linked below on the Guardian has some good advice for those managing the finances of small charity and non-profit organizations. Since we provide clients with non-profit accounting software, we thought we should share this out in case people find it helpful.

Topics: Blog bpo Outsourcing Informational Featured Posts Awareness Not-for-Profit and Faith-Based

Non-Profit Trends: Improving Software, Reporting, Collaboration - According to a Study

A Challenging Year for Not-for-Profits

With the help of Bank of America and the Ford Foundation, the Non-Profit Finance Fund (NFF) recently conducted a survey across the not-for-profit sector, enumerating the many challenges organizations face, as well as the solutions they're using to meet those challenges. We found some of those findings interesting, but we can't say they are surprising. An overview of the report, as well as links to the full document can be found here.

Topics: Blog Business Intelligence / Analytics Outsourcing Financial Reporting Informational Financial Analysis, Ratios and KPIs Awareness Not-for-Profit and Faith-Based

How Your Organization Will Use Technology-Enabled Outsourcing - an HFS Research Report

A new report by Phil Fersht and Charles Sutherland of HFS Research (BPO on the Brink of a New Generation: Technology Transformation) substantiates something that we at AcctTwo have based our business on: technology-enabled outsourcing is a game changer for businesses.

Topics: Blog accounting software business process outsourcing finance and accounting outsourcing FAO bpo Outsourcing accounting process outsourcing Automation and Workflow technology-enabled outsourcing hfs reports Featured Posts Consideration

If You're Writing Checks, You're Losing Money

There's a fascinating article in Wall Street Journal's CFO Journal by Vipal Monga about paper check writing in the United States. Some quick quotes from the article about how paper checks are costly:

"Simply issuing and depositing checks cost U.S. businesses between $26 billion and $54 billion in 2010..."

Topics: Blog electronic payments Purchasing and Accounts Payable Outsourcing Informational check writing Awareness