The benefits of outsourced accounting

16 June 2020

Companies have looked to innovate and adapt to ride out strong headwinds for what may well be some time to come.

The positive effect though – for both employees and their employers – is that we’ve all realised that new ways of working are perfectly possible. Companies have also appreciated that enormous changes can be implemented smoothly and quickly and that processes are far more adaptable than they imagined. All around the world, companies are thinking about ways they can facilitate doing business going forward.

Outsourcing back-office support

The smooth transition to working from home, the widespread use of videocall technology to stay in contact and the ease with which it’s been possible to stay up to date is likely to put outsourcing back on the map.

Outsourcing key functions like accountancy, payroll organisation and company administration and secretarial services have long been favoured by start-ups and businesses looking to expand internationally, but could it become more the norm going forward?

Today, more companies are thinking about the benefits of outsourcing because it can support cost savings and gives growing companies flexibility. Likewise, they can call on the expertise of their service provider without having to hire an in-house accounting team with different proficiencies, for example. While a company may ultimately want to hire such functions down the road, outsourcing can keep costs efficient and allow operational employees to focus on the core needs of the business.

ZEDRA Poland is also able to support clients with international accounting services. The team can prepare accounts in line with most accounting standards and principles.

Clients requiring accounting services come to us for a variety of reasons. In the past few weeks particularly, we’ve also seen requests as companies have wanted to set up more professional accounting practices or complex reporting systems as they look to understand any vulnerabilities and monitor their liquidity position over the next few months.

Equally, ZEDRA also supports clients on a project basis when a client’s in-house accounting team might unexpectedly be overwhelmed with work and need us for a broader mission. Other times, a client’s business might be growing rapidly, and outsourcing is a great solution to maintain momentum instead of hiring.

Whatever the reason for outsourcing accounting, we can effectively step in to support clients with their accounting needs, adhering to international standards and reporting constraints.

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