Firms that outsource accounting report higher profits

outsource accounting report

Firms that outsource accounting report higher profits

A recent survey in the US showed that businesses that outsource their accounting processes to service providers report higher profits and greater financial insights. The 2018 Client Accounting Services (CAS) Survey, conducted by Bill.com with support from CPA.com, also noted that 80% of companies that outsource accounting are likely to refer their accountants to other firms. The survey pinpoints the accounting services businesses are most interested in outsourcing. One in five respondents said they are interested in outsourcing AP, AR and general ledger management. The report analyzed the responses of more than 1,700 companies to determine their opinion of CAS and how accounting services affect their businesses. Also called client accounting advisory services, CAS represents outsourced accounting, finance and back-office support, including AP, AR, payroll, virtual CFO services and the technologies that support them.

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