STEPHEN SKOK

skok @ doeren . com

During these challenging times is when we suggest creating a budgeting plan to help you quickly scale up or down .

Here are some key benefits of a budgeting plan :

With today ’ s business landscape , more organizations are turning to outsourcing to fulfill their accounting needs . While not having an internal accounting team may sound unnerving , it can make a long-term , positive impact on your business .

Accounting outsourcing specialists help manage your accounting needs , including producing financial statements , performing month-end close procedures and more . Some common benefits include :

• Cost-savings . Organizations can reduce , or in some

• Planning . This will help you anticipate your cash flow and expenses , which in effect , enable you to make more informed decisions about how to allocate resources .

• Managing . Business owners are then able to create guardrails to stay within their business ’ s means . Budgeting helps identify where to cut costs and invest more money to grow your top and bottom lines .

• Prioritizing . This ensures your most important business expenses are covered first , plus it will help you refrain from overspending on nonessential items .

cases , eliminate employee overhead , making it a longterm , cost-effective solution .

• Robust technology . Outsourced accountants offer a reliable and secure technology platform to optimize reporting , improve productivity , ensure data security and more .

• Experienced professionals . These specialists often work with businesses of all sizes across various industries . Plus , they bring a fresh perspective to your overall accounting position and can offer new ideas .

• Scalability of needs . Not only will you have access to the appropriate levels of staff , but also more control

• Monitoring . Through proper budgeting , you are better able to compare actual results to your budgeted amounts . You will see where you spent more or less than anticipated , review unexpected shortfalls , if any , and more .

• Funding . In most cases , banks look positively at businesses with budgets in place . This also better supports your business plan and how it will generate a return on investment .

The most important thing to consider is the allocation of time and money , and a budgeting plan as a valuable tool to help you manage both .

lsherman @ doeren . com

in scaling up or down your overall accounting needs .

LISA SHERMAN

• Focus on growth . Most importantly , it frees up more time for you to focus on your business and its growth .

If you ’ re considering outsourcing , work with trusted professionals who understand your business to ensure your accounting and financial needs are met .