Businesses deciding whether to outsource finance and accounting get a balanced look at the process in the company’s latest publication.
El Paso, Texas —June 1, 2020 — DATAMARK, a leading business process outsourcing (BPO) company, recently released “Should You Outsource Finance and Accounting?” The narrative breaks down red flags that signify it’s time to start exploring BPO, some of the benefits of outsourcing, and a few considerations to keep in mind when deciding to move forward. Those interested in reading it in its entirety can do so at DATAMARK.net now.
The spotlight on outsourced finance and accounting functions is part of DATAMARK Insights, a virtual library with articles, whitepapers, videos, and other media, covering topics like efficiency, service, and profitability. Helpful for any business, but designed for large enterprises and government agencies, the series offers practical tips, and actionable steps leaders can take to strengthen and grow their organizations.
“Should You Outsource Finance and Accounting?” notes that a multitude of benefits ranging from business continuity through error reduction can be attained through bringing in a third party. In this sense, the decision to outsource finance or accounting functions can save companies money through risk mitigation in addition to efficiency.
“Companies often think that it’s an all-or-nothing deal when it comes to outsourcing,” explains DATAMARK President, Bill Randag. “The reality is, you don’t have to outsource all accounting functions or all finance functions in one package. If you know which areas you need the most help with, you can outsource specific tasks, or our process engineers can evaluate what’s happening and make recommendations.”
He says that sometimes companies are struggling with aspects of receivables, such as invoice and collections processes, or portions of accounts payable, such as purchase order management or employee expense processing. These individual components can be addressed through outsourcing on their own. Companies can outsource the whole department or add in more services, such as creating a digital mailroom to expedite the processing of all incoming items.
“It’s about finding the right fit for the organization,” Randag expands. “DATAMARK has been in the business for more than 30 years, so our team knows how to uncover hidden opportunities to increase efficiency while building a company’s value and attaining its key objectives.”
Randag adds that DATAMARK has facilities all over the world and resources like state-of-the-art tech, which enable the BPO company to fine-tune processes even further. Those interested in learning more about how BPO works or want to explore outsourcing some or all their finance and accounting functions are encouraged to visit DATAMARK.net.