Accounting outsourcing: 5 points to check

Internal accounting management is often a source of great workload and responsibility for company directors. It can therefore be strategic to outsource this time-consuming task to specialists. So what do you need to watch out for when outsourcing your accounting? We explain everything.

Why outsource your company's accounting?

Outsourcing accounting means entrusting all or part of your company's accounting management to specialized professionals in the sector, such as certified accountants or trustees.

The advantages are manifold:

• You stay focused on your business, leaving accounting tasks to professionals.
• You save time, which you can allocate to other tasks where you can add real value.
• You save money because you don't need to recruit internally.
• Last but not least, you'll be sure of complying with regulations, and benefit from tax optimization advice (for example).

GOOD TO KNOW
Wondering when the right time is to outsource your accounting? Mainly when you're experiencing rapid growth, when financial management is becoming complex, or because you want to stay focused on your core business.

The type of business

When choosing a partner to take care of your accounting, it's important to consider the type of company you're looking for.

• A traditional trust company (e.g. a certified accountancy firm)?
• A neo-fiduciary company with an online accounting system (in other words, web-based platforms)?
• Or a company specializing in payroll and insurance?

You should also check that your accounting partner is familiar with local tax regulations, depending on the country and the status of your company.

Data security and confidentiality

This is a major concern for your company. Your accountant must have rigorous security protocols and a clear confidentiality policy.

Ask your accountant some questions:

• What security measures do they actually put in place to protect your company's sensitive information?
• What tools do they use on a daily basis to ensure data confidentiality? Does it comply with the LPD or RGPD?
• What processes are in place in the event of a hack, for example?

The service provider's experience in accounting outsourcing

Opt for a service provider with genuine expertise in corporate accounting. Remember to check their references on their various platforms (social networks, website), or by asking them directly. They should be able to handle the subtleties specific to your field of activity, while advising you on the best strategies to adopt.

GOOD TO KNOW
Before you start, remember to define your company's real needs. What part of the accounting process would you like to outsource? Just payroll? Annual closings? Do you need a chartered accountant all year round, or just at a particular time (merger, company launch, transitional phase, etc.)?

Follow-up and customer service

An often underestimated criterion, the customer experience is nevertheless a point to check before committing yourself to a service provider. For an effective collaboration, the service provider must be sufficiently responsive and engaged when you have questions. Find out in particular about

• Response time
• The type of follow-up offered
• Days and hours of availability

Return on investment

Another decisive point: calculating the profitability of outsourcing your accounting. In other words, you need to analyze the return on investment if you use an external service provider. To do this, the service provider must be able to provide you with a clear and transparent overview of the different rates offered if you outsource your accounting.

As you can see, outsourcing your accounting has many advantages, not least of which is the ability to focus more effectively on your core business. However, delegating this task to a chartered accountant requires careful thought. Don't rush into it!