Have you been wondering if you really need a full-time “in-house” accounting staff? Perhaps it’s time to ask yourself if “in-house” is right for you. Here is why you can reimagin your firm while having expert insight, freedom and the ability to save more money.
1. Expert Insight
You don’t have to reinvent the wheel. An outsourced firm can bring extensive industry knowledge which can help guide your firm to success. The benefits of having a team that works with multiple companies can be the key to unlocking some of the bottlenecks in your business. Firms of the past often get pigeonholed into one channel of thought, especially when they have been operating the same way year after year. Why not get some fresh ideas and learn about the methods that have proven to work? A great outsourced team will also have access to benchmarking tools to measure growth and keep your goals on track.
Being an advanced tech savvy company requires an element of staying nimble. If you were severely affected when you had to switch to a virtual setup during COVID, or you had trouble collecting client payments because you did not have digital payment options setup effectively, your current systems may need to be upgraded. We understand that for some firm owners the idea a remote team can be difficult to envision. Most companies will tell you it took being forced into an outsourced accounting team to take the leap, but once they saw how easily it can work, their possibilities were endless. They are also no longer chained to one geographical location and they can work from anywhere in the world.
3. Save Money
What’s the bottom-line (LITERALLY)? Let’s do some math.
If you were to hire an in-house accountant for a firm of about 25-50 people your avg. starting cost would be about $160,000/yr .
- Avg cost to have employee come to office everday. Rent Overhead + Desk Space = Avg Cost per Work Area x SqFt. = ~$15K /yr
- Salary = ~$120k /yr
- Avg cost of Payroll Taxes = ~$10k
- WC / Insurance = ~$5k
- Benefits + PTO = ~$10k
The cost of having an outsourced team do the work is usually about 60% of the cost to hire. In this scinaro, that is a savings of ~$64,000/yr.
If you have an accounting team in place right now and are you concerned about taking jobs away from people during this difficult time? You are not alone. We want to create jobs too. By hiring Logistis you are creating local jobs. Our HQ is in LA and EVERY employee we hire is domestic. You should be proud of making savvy business decisions that will save your company money by leveraging practical tools to make better business decisions.