{"id":37264,"date":"2022-03-14T13:08:02","date_gmt":"2022-03-14T17:08:02","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?p=37264"},"modified":"2022-03-14T13:08:02","modified_gmt":"2022-03-14T17:08:02","slug":"business-report-more-businesses-eye-outsourcing-accounting","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2022\/03\/business-report-more-businesses-eye-outsourcing-accounting\/","title":{"rendered":"Business Report: More Businesses Eye Outsourcing Accounting"},"content":{"rendered":"
\"\"
Michael Poveda, managing director, UHY Advisors NY, Inc.<\/figcaption><\/figure>\n

BY Michael Poveda<\/p>\n

According to the\u00a0UHY 2022 Middle Market Trends Survey, over 20 percent of business owners have explored the option of outsourcing their accounting function and given today\u2019s challenging business environment, that percentage is expected to grow.<\/p>\n

Today\u2019s business owners have their hands full just focusing on sustaining and growing their businesses, with little time to focus on their businesses\u2019 accounting operations, despite that function\u2019s importance. In fact, according to a survey by SCORE, a small business mentoring organization, a full 40 percent of small business owners say bookkeeping and taxes are the single worst part of owning a business.\u00a0<\/span><\/p>\n

Yet, it is data from the accounting operations that should lay the foundation for important business decisions. Given that and given that few companies have full accounting capabilities in-house, outsourcing their businesses\u2019 accounting functions is increasingly more attractive to business decision makers.<\/p>\n

That is where Client Accounting Advisory Services (CAAS) comes in. CAAS allows a business to outsource its finance, back-office and accounting operations. It is a service offered by many accounting firms. It has benefits beyond outsourcing those activities.\u00a0<\/span><\/p>\n

Since CAAS gives the accountant involvement in all data, transactions, trends, monitoring, capturing and analysis of the business\u2019 financial activities, the accountant is in a unique position to provide informed advice on all business decisions and intelligent input on risk\/reward situations.\u00a0<\/span><\/p>\n

<\/span><\/span>The expertise and experience of the accountant becomes a valued asset to the business.<\/p>\n

So how do you know it is time to consider outsourcing your accounting function?<\/p>\n

One indicator is if a business owner no longer has the time to be involved in every business discussion and decision. Having a group of professionals managing the finance function frees up time they would otherwise spend managing accounting and allows business owners to focus on growth.\u00a0<\/span><\/p>\n

You can spend your energy elsewhere and remain confident that the financial information is in the hands of qualified professionals who have the organization\u2019s best interests in mind.\u00a0<\/span><\/p>\n

Another area to be mindful of is your technology capabilities. Do you need more data from your financial reports? Are you looking for systems that integrate and speak to each other? CAAS professionals can review your business needs and make recommendations specific to your goals.\u00a0<\/span><\/p>\n

There are several benefits to outsourcing your accounting and finance, especially as a growing business in an ever-changing environment. Consider speaking with a CAAS professional if improving performance and efficiencies is on your list of 2022 priorities.<\/p>\n","protected":false},"excerpt":{"rendered":"

BY Michael Poveda According to the\u00a0UHY 2022 Middle Market Trends Survey, over 20 percent of business owners have explored the option of outsourcing their accounting function and given today\u2019s challenging business environment, that percentage is expected to grow. Today\u2019s business owners have their hands full just focusing on sustaining and growing their businesses, with little […]<\/p>\n","protected":false},"author":89,"featured_media":37265,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-37264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-asset-managment"],"yoast_head":"\r\nBusiness Report: More Businesses Eye Outsourcing Accounting - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2022\/03\/business-report-more-businesses-eye-outsourcing-accounting\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Business Report: More Businesses Eye Outsourcing Accounting - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"BY Michael Poveda According to the\u00a0UHY 2022 Middle Market Trends Survey, over 20 percent of business owners have explored the option of outsourcing their accounting function and given today\u2019s challenging business environment, that percentage is expected to grow. 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