Finance and Accounting Outsourcing (FAO)

Finance and Accounting Outsourcing (FAO) is the act of hiring a vendor to fulfill your business’s financial needs. Such tasks may include:

  • Paying employees, contractors, and vendors on time
  • Sending out invoices
  • Addressing problems such as late or missing payments
  • Helping the business devise and stay within a reasonable budget
  • Working with the business to approve additional spending as necessary

Finance and accounting is a back-office service that plays a vital part of your customer support system. Some companies struggle with:

  • Costs of building a finance department from scratch or adding onto an existing one
  • Lack of experience with financial matters relating to customer support
  • Lack of time and resources to devote to properly handling financial matters

You can save time and effort by simply outsourcing your finance,  accounting, and other back-end services like market research and quality assurance (QA). Vendors like OutPLEX already have the systems and personnel in place to:

  • Hire, train, and retrain employees as required
  • Rapidly deploy the personnel you need to run an efficient accounting department based on your own specifications
  • Provide a thorough understanding of the financial requirements associated with running a modern, efficient customer support system
  • Take the responsibility of financial operations off your hands, so you can focus on your core business
  • Provide other back-office services as required

FAO is a good way for you to get the services you need without spending excessive resources or, potentially, making mistakes that could drive away customers, employees, or vendors. Outsourcing means you:

  • No longer need to worry about the day-to-day operations of your finance department
  • Retain control over your business’s goals, messaging, and other “big-picture” items
  • Can always ask the vendor questions about how things are going and how you can best address any problems that arise

Another benefit of outsourcing with OutPLEX in particular is that we are an omnichannel vendor. We not only provide back-office services, but also customer-facing services like digital communication channels. You can lower expenses by contracting with a single vendor for all of your needs rather than outsourcing to multiple vendors.

To learn more about OutPLEX’s Finance and Accounting Outsourcing services, visit us online or call us at 1.866.531.5773 for a free quote.

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