Building A Better Business with Outsourcing

By Jennifer Barnes, CEO & Founder

As business evolves, we’re discovering more ways to enhance efficiencies and gain economies of scale across all industries and companies, large and small. Effective leaders and business owners are quick to adopt proven tactics like outsourcing key roles. Doing so saves time and money by streamlining key areas of the company, which directly impacts profitability and growth.

What Is Outsourcing?

Outsourcing, in general, is the hiring of services or goods from a third-party supplier. Typically, these outsourced positions will fall into one of the following three categories:

• Highly Skilled & Executive Positions: The salaries and benefits of executive positions, such as a CFO, CIO, CMO, or other high-level role, can take up a substantial portion of a company's budget. Many businesses are finding that outsourced executives, either full-time or fractional, bring fresh and often superior expertise to the table at a fraction of the cost.
• Specialized Knowledge: Roles that require specialized knowledge can be outsourced because their services aren't necessarily needed full-time. Outsourcing roles, such as accounting and IT can save your business a great deal of money and office space.
• Highly Repetitive Tasks: Repetitive tasks are often outsourced because they’re one of the top contributing factors to workplace inefficiency. They consume a great deal of time and usually only assist in company stability, not growth.

Some Of The Most Commonly Outsourced Jobs

• Manufacturing: Manufacturing is often outsourced overseas because it’s almost always cheaper than manufacturing in the States (depending on variables like quantity, tariffs, etc.).
• Web Design: Website design and development are specialized skills that, if conducted in-house, would become a full-time job, for which there isn’t a consistent need.
• Call Centers/Customer Support: If interacting with customers isn't considered a major element of your business, outsourcing customer support can increase efficiency by freeing up staff for more important assignments.
• Data entry is one of those repetitive and tedious tasks that could be performed more efficiently by a third party or automated system.
• Accounting: Accounting is another specialized job that doesn't require an individual (depending on the role) to be in-house full-time. Outsourcing accounting responsibilities is a terrific way to save money without losing quality in regard to performance.

Outsourced Accounting

Outsourced accounting is a third-party service that gives you all the accounting amenities you enjoy with a full-time in-house account at a fraction of the cost. Optima Office, Inc. is an accounting services firm designed to service the accounting and HR needs of types of businesses by fulfilling essential accounting roles, such as:

Fractional Chief Financial Officers

If you have an existing accounting team but no CFO to oversee the department, Optima provides top-tier Chief Financial Officers (CFOs). Their singular focus is helping your business achieve its objectives by minimizing financial risks and providing strategic advice regarding ways to increase your bottom line.

Responsibilities & Duties Include:

• Implementing and supervising company controls
• Handling assignments with major financial impacts
• Building relationships with external financing services
• Driving major strategic financial objectives
• Serving as a key financial advisor to company management
• Providing financial analysis of company statements and documents

Controllers

Optima focuses on hiring the best for your business, and our controllers are just that. Their objective is to oversee your business's accounting team to ensure financial stability and success. They are responsible for your company's financial statements, predicting potential losses and gains, budgeting, and other financial assignments.

Responsibilities & Duties Include:

• Managing staff accountants and accounting managers
• Facilitating/submitting company payroll
• Overseeing/creating journal entries
• Preparing or overseeing the creation of financial statements
• Inputting data information into accounting systems

Accounting Managers

Accounting managers are responsible for overseeing your accounting team under the direction of your CFO or controller. Optima accounting managers have extensive experience in accounting and are missioned to help your accounting team perform more efficiently.

Responsibilities & Duties Include:

• Creating an end-of-the-month close process and checklist
• Collecting sales tax from customers and sending them to the government
• Preparing financial statements
• Conducting reconciliation of accounts to ensure accuracy
• Preparing balance sheet schedules
• •  

Staff Accountants

Staff accountants from Optima work to get your business's daily accounting tasks completed in a timely manner and report to your company's higher-ups to take on any other assignments that need completing. Their duties include invoicing, data entry, accounts receivable and accounts payable, reconciliations, and administrative tasks.

Responsibilities & Duties Include:

• Filing and pulling client documents for staff
• Data entry on QuickBooks, Excel, or any other systems you may utilize
• Running AP/AR, and payroll
• Administrative work

Senior Bookkeepers

Optima has highly qualified senior bookkeepers who go beyond their listed duties to assist in remedying invoice payment issues, posting transactions to general ledgers, and conducting end-of-month reconciliation processing. If needed, they can also assist in bank duties, payroll processing, and collecting sales tax from customers.

Responsibilities & Duties Include:

• Bank and credit card reconciliations
• Payroll processing
• Clerical and administrative support
• AP/AR
• Maintaining accounting filing system organization
• Ensuring the prompt collection of receivables

HR Manager & Directors

Optima's knowledgeable HR managers work to ensure that your company is compliant with all state and federal regulations while simultaneously implementing proven incentive programs to increase employee morale and efficiency.

Optima has a team of experienced accounting professionals with expertise in every industry and both for-profit and not-for-profit organizations. Optima services companies of all sizes, from start-ups to $50+ million in annual revenue. If you’re a San Diego or Arizona-based business looking to grow with outsourced accounting, contact the Optima Office today. Wherever you’re situated nationwide, we provide a seamless remote service. We’re here to help and genuinely care about your success.

DISCLAIMER – Due to the daily changing environment and guidelines being provided by the government, this information could be outdated. Please contact our office for the latest updates and guidelines. Optima Office is not responsible for any actions taken due to the information provided. The information provided here is for instructional purposes and does not represent legal advice being given by Optima Office, Inc.