|
Integral Financial Management (Pty) Ltd |
|
Outsourced Accounting |
|
Integral Financial Management offers an outsourced accounting solution designed to provide an alternate solution to employing and managing full-time accounting staff. Outsourced accounting offers:
· High quality, accurate and timely accounting records · Prepared by experienced staff · Strong internal control environment · Supervision and training of staff
Integral’s outsourced accounting is designed to provide the client with comfort that their financial records are well maintained with adequate controls over their financial information. The outsourced accounting model has been designed based on the shared service centre model employed by the most successful global organisations to improve efficiency and reduce cost, making outsourcing an ideal choice for your business. |
|
Call (011 912 9551) or e-mail Richard to set-up an appointment to discuss your requirements |
|
Why YOU should consider outsourcing Systems Integral uses a carefully designed system of procedures and controls to ensure the validity, accuracy and completeness of your accounting transactions as well as processing the transactions with maximum efficiency and using the correct level of staff, who is experienced in the area in question, to process the transaction. In addition the systems and internal controls used are designed by experienced professionals with experience in control environments, including the control’s business impact and the associated financial risk that is being mitigated. Continuity Secondly the outsourced accounting model allows there to be a team of staff working on your account headed up by an account manager, this ensures that there is continuity in your finance function even when a team member leaves. In addition the upfront documentation records the history of key and routine transaction ensuring that the accumulated knowledge is maintained and enhanced. Range of Skills As Integral utilises the team approach with a strong internal focus on staff development and training a wide range of skills are available to benefit your organisation as well as a range of people who are aware of the history on your company. Including staff that can identify and resolve accounting and tax related issues. Scalability Integral’s team approach allows additional capacity to be added as needed thus your accounting needs are never stretched too thin, this eliminates a common issue within company’s of needing one and bit people for a particular role, or requiring divergent skills set, but only requiring one resource. Economies of scale Using an outsourced service provider effectively allows one to share a portion of the IT, software licences, staff training, recruitment and management costs with other customers Alternate options to outsourcing Fundamentally there are two alternate options to Outsourced Accounting, either hiring a bookkeeping service where an accounting firm will send a bookkeeper to your premises, weekly or monthly etc, or one could build the capacity internally through full-time, part-time or cross functional staff. However both of these options still require the staff member to have a desk, IT infrastructure, relevant software licences etc. With both of these options extensive staff training, supervision, monitoring and management is likely to be required thus utilising company time and resource that could be more effectively utilised elsewhere. Traditional bookkeeping service Traditional bookkeeping services are offered by a large number of small practitioners some in conjunction with audit service and some as independent bookkeeping/accounting services. Depending on the practitioner, utilising a bookkeeping service does not eliminate several of the common problems that outsourcing the accounting does, for example: Dependence on one person Staff time is required to supervise train and manage the person Incorrect allocation of resources, an expensive resource is still utilised to perform simple tasks such as processing the cash book. Building the internal capacity Similar to other shared services such as HR and IT the accounting function is not the business core-competence and therefore suffers from lack of resources, lack of internal customer focus, small sized departments with limited growth potential for candidates, thus increasing churn as well as a lack of skills and resources to call on for irregular but more complex problems or new system requirements. |
