Businesses are always under intense competition and cost pressures. They must produce creative, advanced and original product line while continuously reducing costs and optimizing their resources. Most small to large scale businesses struggle to be completely in control of everything and, as a result, spending on key strengths may be compromised.
So as the company thrives for growth, whether you’re on the fence or fully settled, it is good to have a solid understanding of What Outsourcing Means?
You outsource services when you contract an individual, company or firm to provide services for your business. Small companies usually outsource the services of a chartered accountant. Others have a bookkeeper on staff while some businesses outsource bookkeeping services as well.
Why should you outsource your Accounting?
Financial Savings
Outsourcing accounting brings efficiency and minimize costs because you’re only paying for the accounting help you need when you need it with absolutely zero employee-related cost to deal with. Worry no more on the typical employee expenses like benefits, insurance, payroll taxes, paid leaves, etc. Generally, you only pay for what you get – nothing more, nothing less.
Expertise on Your Side
By teaming up with Axcell, you will have access to expert advice with more than 20 years of experience and confidence in financial reports that meet regulatory and compliance standards. Thirdparty service providers specialize in the work they do, so they are the perfect resource for getting projects done that keep up with the competition. You gain peace of mind by knowing that your accounting tasks are done properly by qualified, experienced and knowledgeable professionals in the field.
Access to the Latest Technology
To ensure that they’re always at the forefront of technology, providers pride themselves in developing their accounting systems and techniques. With the right outsourcing provider, you’re not only getting trained staff to handle the job, you also get access to leading accounting software. In addition to encryption of data that raise the confidentiality standards to the highest level, simply because Axcell uses software as a service from the biggest worldwide software providers.
Focus on Your Core Business
It is beneficial to the growth of your business to outsource administrative tasks like bookkeeping and accounting to focus your energy and time on growing your business. You won’t get distracted by worrying about what is happening on the back-end of your business. By outsourcing, you can stay focused on your core processes and your clients.
The driving force behind the decision to outsource is the ability to focus on core competencies. It is plain and simple that outsourcing allows businesses to be more efficient, more effective, and more competitive. Could outsourcing help you achieve your company’s goal and lead your direction to success? It’s time to turn the dice.
As a trusted advisor, Axcell helps our clients with much more than accounting and taxes. Clients often need assistance beyond these standard services. With the new CBE and ministry of investment initiatives to provide access for funding by SMEs at deeply discounted rates, businesses should prepare strong documents in order to gain such benefits in record time. As prices soaring and subsidy cuts continue, all businesses have to be equipped with comprehensive business plans detailing how revenue will be generated, loans settlement plans, and relations with stakeholders.
Bank Financing
A big mistake many small business owners make in attempting to grow their business is applying for a loan with insufficient preparation. The number of business failure to acquire such opportunistic financing schemes are far more than the ones who were able to successfully gain it. Axcell helps businesses in whatever phase; become savvier by preparing comprehensive loan proposals. These should include the documentation needed for such applications, i.e. business plan, credit report, income tax returns, and financial statements.
Cash Flow Management
We help our clients in many aspects, from developing cash flow projections (daily, weekly, monthly, annual) to directing them to lenders, who can extend a competitive line of credit to ensure payroll, bills and other key business needs are met. Enhanced collection management improve cash flow and optimize the operating performance. Axcell can improve cash flow position of clients by optimizing working capital, by working on payment terms for vendors, as well as clients, optimize level of inventory investment, and banking/financing formula between debt and equity.
Strategic Business Planning
Many businesses rely on informed strategists outside their organization to help shape their roadmap. Or else start the project right away, without detailed business planning. Axcell helps our clients’ plans ideas on paper through business plans, which are not only needed to secure financing, but also are recommended when starting a new venture or product, expanding or pivoting a business, buying a competitor, or attempting to save a struggling business. We also help our clients conduct market research to help inform them of the potential of these moves.
