Outsourcing of Accounting and Payroll Functions – The Solution to Value-Creating Activities
With continual changes in Financial Reporting Standards, coupled with the need to work within tighter deadlines to produce relevant and timely information, companies are increasingly looking to outsource their accounting and payroll functions to specialized service providers. This allows their in-house resources to focus on their core competencies, thereby unlocking the organisations´ business potential.
What are the typical accounting functions that a Company outsources?
- Year-end preparation of Annual Statutory Accounts
- Periodic Consolidation of Group Financial Statements
- Interim Financial Management Solutions
- Financial Process Review
How does a Company benefit from outsourcing these functions to Boardroom?
- Gains instant access to operational expertise and best practices, backed by a 40-year track record
- Provides a sustainable level of continuity and reduces the risk to operations in instances of high employee turnover or insufficient resources or skills internally
- Achieves cost efficiencies through economies of scale, and by reducing recruitment and retention costs
- Allows you to focus on your core competencies and activities