How does outsourcing work with cloud ERP?

Experience with accounting systems

Accounting software is advancing at pace and keeping up with the changes and being able to take advantage of the automation offered by cloud-based software can be challenging and limits the effectiveness or finance teams. Outsourced finance teams have the advantage of working with multiple companies and systems and will understand how different cloud ERP solutions can address a variety of issues. They can help identify the pinch points and the required solutions. This might mean, for example, optical character recognition software, implementation of workflow modules, changes to processes or smart reporting tools.

Benefit from improved structure of finance team

In contrast to an internal team, an outsourced finance team can be made up of different grades. For example, a typical outsourced team might include 50% bookkeeping resources to take care of processing, 35% senior accounting resources to take care of reporting, 10% financial controller to review and present reports to your board and 5% surrogate FD to provide strategic support to your business. This flexibility is particularly useful for companies that may not have the budget for a full-time finance director but would benefit from their strategic input.

Seamless integration with your team and focus on your priorities

With cloud accounting, the physical location of teams does not matter. The first step is to identify where you need support, what processes you need to retain in-house and where we can add value. Whatever your need, our team will operate as part of your team.

Covering absenteeism

Reliance on individuals to meet deadlines and deliver quality work can put your business at risk. Our outsourcing team can support you in two ways:

• We cover absent colleagues. When your team member returns they can hit the ground running without fear that their work has fallen by the wayside in their absence.
• When you need to replace a team member, this could be a great opportunity to consider outsourcing as a flexible and efficient alternative.

Implementation and parallel run of new systems

Our experienced outsourcing team uses a proven methodology to transition your existing ledgers and structure your new chart of accounts. This approach can alleviate pressure on your current finance team and make cloud accounting a reality. Additionally, an outsourced team can support a short parallel run of the new cloud ERP while your existing team continues to operate the legacy system, ensuring the new system is functioning effectively before the full transition.

Implementing a cloud ERP system offers significant potential benefits, including improved process efficiency, time and cost savings, and enhanced reporting and analysis for better board insights. However, change is challenging, so it's crucial to balance these benefits against the concerns of managing the implementation and change process effectively.

Get in touch with our Outsourcing specialists

If you are considering how an ERP solution could benefit your organisation, please do get in touch with our outsourcing experts who would love to join you on your journey.

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