Highlights
- IMS People Possible explore the benefits of outsourcing invoicing tasks for recruitment companies.
- We list the key areas that outsourcing aid.
In the recruitment industry, many aspects of the market are currently outsourced, freeing up time and resources to focus on the continual growth of the company. So, how can outsourcing your invoicing team benefit your recruitment company?
Natural Growth
Most newly incorporated recruitment agencies will utilise an accountant to review only their year-end accounts and try to manage the back-office invoicing tasks themselves. However, as your agency grows, this task can become costly and time-consuming. The need for extra roles such as credit controllers and management accountants, also emerge as your company expands.
Consider the possibility that you land a substantial client, generating a sizeable amount of revenue for your firm, but you find yourself unable to manage the workload it has in turn generated in clerical and finance tasks. In this case, outsourcing takes the strain away from the recruiters and allows your employees to concentrate on their primary responsibilities as recruiters.
Cost Savings
On average businesses find they can achieve 50% cost savings by outsourcing their accounting function. This is achieved through gaining access to better analytics that allow cost savings to be readily identified. Plus, it also provides the ability to strategically redeploy staff to areas that increase sales and add real value to the business.
Employee Absence
Employees come and go in all industries for a variety of different reasons. Sometimes they accept a different role elsewhere, sick leave, maternity leave, promotions, etc. Finding someone to fill the shoes of an experienced in-house financial manager can be a long process, taking even longer for them to gain your trust entirely. The outsourcing of invoicing removes the risk of your operational capabilities suffering in the case of a departing employee.
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Expertise
As this is their area of expertise outsourcers are always going to have the latest technology and highly qualified experts that can utilise that technology to give you the best information possible. This has become even more of a benefit as companies frequently need to analyse their data more and more.
Space
Ideally, your offices will be full of like-minded employees, working tirelessly towards a common company goal. However, space is often an issue that needs consideration, especially if you need to allocate space for a financial team. Outsourcing this team saves valuable space and leads to a more efficient, harmonious workplace. While this may not seem a significant concern on the surface, the comfort of your employees can quite significantly impact your firms’ progress.
The benefits of outsourcing your invoicing and financial teams are clear; improvements on your business’s capabilities increase, along with the efficiency of your entire team and diminishing your risks in turn. You can concentrate the whole office’s efforts into the growth of your brand and continue to flourish as a business.
IMS People Possible are leaders in offshore accounting solutions for businesses throughout the recruitment industry.
Our wide range of seamless and continuous accountancy services keep our client’s recruitment businesses flexible, scalable and at the cutting edge of technology and compliance, all whilst providing significant on-going cost savings.
You can be assured that by working with IMS People Possible you will be partnering with an accounting partner who constantly measures and monitors its own quality, accuracy and compliance, ensuring you always receive the best possible service.
To learn, how we can be the right partner you need, drop us an email at info@imspeople.com
