Outsourcing CFO services can be hugely beneficial for your small Portland business. An outsourced CFO can offer your business important experience and knowledge which will keep everything running smoothly and within state and national regulations.
Did you know, however, that you don’t necessarily need to take on a full-time CFO? Your Portland business can thrive with the help of outsourced CFO services as well. Here are just a few ways in which an outsourced CPA can help your business:
1. You Can Concentrate On What You’re Good At. Accounting is no easy task, which is why outsourced CFOs are specially trained for it. Allow an outsourced CFO to fulfill their areas of expertise while you turn your expert skills elsewhere. Portland business owners who outsource CFO services will have more time to concentrate on other tasks, leading to improved productivity and quality of work.
2. Lower Employee Costs. Did you know that when you outsource CFO and accounting services, you can save up to 40% of the costs when compared to the cost of a full-time employee? With an outsourced CFO, you don’t have to pay for things like benefits packages, training, or equipment. Your insurance may even lower. The cost to hire a new employee can be as high as 150% of their annual salary. By outsourcing, you could really be saving money.
3. Reduce Fraud. Most businesses suffer from employee fraud at some point or other. No business is immune to some sort of theft. This can be even more of a risk for small Portland businesses. Statistics highlight that companies with fewer than 100 employees are most vulnerable to fraud and face an average yearly loss of $155,000. Outsourcing your accounting and CFO services can be a way to detect fraud within a business.
Outsource Your Accounting With Business & Accounting Solutions. Looking for a professional bookkeeper and accountant to support your Portland business? Business & Accounting Solutions helps Portland businesses stay in compliance and on the path for growth by offering a wide range of outsourced CFO services, including bookkeeping, payroll, cash flow, finance consulting, and financial statement preparation along with QuickBooks consulting services. Contact or call us today at (503) 710-6213. Know someone in need of CFO or Accountant services? Consider our referral program.