Outsourcing, also known as "partnering," is defined as the movement of in-house work to an external supplier. The outsourcing of specific business functions has become popular with companies of all sizes. Few companies consider accounting to be a core, revenue generating part of their enterprise. By outsourcing the back office processes of the accounting department, you free up management for high level, strategic, thinking and planning.
Large organizations and small businesses, individuals with only an idea or a dream, Fortune 500 industrials and high-tech start-ups have turned to outsourcing to help grow their businesses. From accounting to tax, from real estate services to recruiting, outsourcing is projected to be a $300 billion business. It is estimated that 75 percent of Fortune 500 companies outsource non-core functions while 83 percent of the fastest growing companies in USA are outsourcing in-house cost centers.
DAS can provide you with financial reporting, general ledger accounting, consolidations, budgeting, management reporting, billing, accounts payable/accounts receivable, payroll, taxes, expense reporting, and controls & compliance management.
DAS offers individuals and businesses of all sizes a full range of service options to complement and complete your internal accounting and administration needs. If you need the services of a full-blown accounting department, without the high price, you can outsource through DAS. DAS offers all accounting skill levels, from CFOs to bookkeepers. We provide assistance in all areas of reporting and tax requirements.
Typically, two types of shared services are outsourced:
Transactional services - repetitive and generic functions
Professional services – knowledge based functions
By dividing your business activities into four categories, you can identify outsourcing opportunities that offer the best long-term value, increasing quality and reducing cost:
Peripheral functions provide no competitive advantage to your business and are not essential to the core business. These functions are easily outsourced and produce minimal risk.
Supportive functions are essential, but not a core activity. Failure in this area would cause serious damage to the business. In this case, a manager's time and resources could be better spent on activities fundamental to the business, recruiting this expertise externally.
Strategic functions provide an actual or potential source of competitive advantage. One reason for outsourcing strategic functions is to achieve better value for strategic thinking and capabilities.
Core functions, or competencies, are the primary business activities that are either directly or closely related to the production of your revenues. These types of functions should generally not be outsourced.