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6 WAYS OUTSOURCING CAN GROW YOUR FIRM Website: www.cs.com.au Telephone: 1800 CLOUDFORCE

6 WAYS OUTSOURCING CAN GROW YOUR FIRM · bookkeeping, payroll, compliance, reporting, back office tasks and more, giving you the time and efficiencies you need to grow and develop

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Page 1: 6 WAYS OUTSOURCING CAN GROW YOUR FIRM · bookkeeping, payroll, compliance, reporting, back office tasks and more, giving you the time and efficiencies you need to grow and develop

6 WAYS OUTSOURCINGCAN GROW YOUR FIRM

Website: www.cfbs.com.auTelephone: 1800 CLOUDFORCE

Page 2: 6 WAYS OUTSOURCING CAN GROW YOUR FIRM · bookkeeping, payroll, compliance, reporting, back office tasks and more, giving you the time and efficiencies you need to grow and develop

THE PRESSURES ON MODERN ACCOUNTING FIRMSEvery partner dreams of spending less time in the business and more time on the business. Dreams of spending less time on compliance, dealing with compliance issues, demands from the ATO, dealing with clients using different accounting systems and staffing issues. Dreams of more time on the bigger picture and the things that helped them succeed in the first place. Until now, those dreams have rarely been realised.

Australian Accounting firms, from Sole Practitioners to multi-partnered National Firms, are also under pressure from Clients who want the certainty of fixed fees. However, this often results in costly write-offs when jobs take longer than expected. The end-of-tax-year rush makes it hard to deliver outputs in a timely manner and the drudgery of Compliance Accounting means it can be challenging to minimise staff turnover and keep good people.

THE SOLUTIONOutsourcing: Outsourcing enables firms to provide a better advisory service, control costs and have a flexible core compliance workforce. Accounting software companies such as Xero or MYOB are investing in technology and syncing with external data sources, but they stop short of doing the work for you.

That is why there has been a global move to outsource to trusted providers who can deliver quality outcomes on time for substantially less than the in-house cost. Simply hand over all your time consuming tasks - including bookkeeping, payroll, compliance, reporting, back office tasks and more, giving you the time and efficiencies you need to grow and develop your firm.

It is also a great opportunity for Accountants to do more direct client and business advisory work, which is a natural and more rewarding career progression than crunching numbers for a lifetime.

So, if you are looking for new ways to streamline your firm’s day-to-day operations, improve the service to your clients and grow your bottom line, it is time for you to consider outsourcing.

Here are the 6 Ways Outsourcing Can Grow Your Firm:

FREES UP TIME TO FOCUS ON GROWING YOUR FIRM

In many firms it is a lack of senior management’s time that is one of the dominating factors when looking to outsource. Time is scarce and you need to spend it wisely.

Less time spent on Compliance Accounting means more time to focus on finding new clients, expanding your service portfolio and targeting industry sectors.

Your in-house Team will also be released from time consuming Compliance Accounting, leaving them free to tackle their clients’ biggest problems as well as spending more face-time with clients.

Your clients will love the extra attention. Your in-house team will be doing the kind of work they want to be doing and you’ll be working together to fulfill your vision of growing your Firm.

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Page 3: 6 WAYS OUTSOURCING CAN GROW YOUR FIRM · bookkeeping, payroll, compliance, reporting, back office tasks and more, giving you the time and efficiencies you need to grow and develop

REDUCES PRACTICE COSTSBy outsourcing, you can get access to experienced accountants, CPAs and CAs at a much lower cost, without compromising on quality. Your in-house team are freed up to offer more rewarding value added services to clients.

You are not responsible for the cost of the outsourced team’s sick time, holiday time, superannuation, long service leave or payroll tax. You don’t have to worry about computers or desk space and as you are outsourcing, you alleviate the financial burden of managing extra employees, the drain of bad hires and the training and retraining of employees.

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MAINTAINS PRIVACY FOR YOUR CLIENTSWhen considering Outsourced Accounting, the biggest concern for any firm is the privacy of critical financial information and client data. What you might not realise is that CloudForce is capable of providing a high level of security, privacy and backup systems, the likes of which most firms would not be able to afford to build on their own.

To maintain 100% privacy and confidentiality, CloudForce maintains your data and financial information on a secure, encrypted and password protected portal, only accessible by authorised individuals who are required to keep all information confidential. That means you will be able to offer the same level of top-end cloud-based security that the big international firms use, without the prices that they pay. All Contracts are written and enforced under Australian Law operated under the Australian Privacy Laws for your protection.

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4 PROVIDES A SOLUTION TO HR ISSUESFinding and keeping good Accountants and Bookkeepers with years of experience has become more challenging in recent years. Rather than try to be all things to all people, outsourcing particular sections of your Firm means you have access to staff who specialise in that area.

Outsourced Accounting gives you access to a pool of talent that is both wide and deep. If someone happens to be absent, your work will be looked after by an equally qualified worker can be put in their place until your usual Team member makes their return.

You no longer have to worry about the emotional side of hiring and firing, as CloudForce manages your human resources issues.

5 EXPANDS THE NUMBER OF SERVICES YOU CAN OFFER

Your in-house Team members will now be able to offer more services for prospective clients and offer current clients more benefits by keeping all of their work under your Firm’s one roof.

If you currently do not have someone who knows all the rules and regulations of, for example, SMSF practices, then you can arrange to have your Outsourced Accounting Team hire someone who can handle that kind of work.

CloudForce Client Services: SMSF Accounting and Audits, Company Audits, Accounting and Tax services for all entity types, Cloud Migration, Payroll and Bookkeeping.

Page 4: 6 WAYS OUTSOURCING CAN GROW YOUR FIRM · bookkeeping, payroll, compliance, reporting, back office tasks and more, giving you the time and efficiencies you need to grow and develop

CloudForce’s quality controls ensure consistent, high-quality outputs that are double-checked by qualified Australian experts before they reach you, so you do not have to waste time double checking the work. As they are specialists, they are also likely to meet your far timeframes quicker.

You can also avoid the end-of-tax-year rush and deliver clients’ financial reports and tax returns on time, every time, by utilisiting CloudForce’s scalable service.

Many firms suffer from the pain of write-offs. Partnering with CloudForce lets you move to fixed price services with confidence. There’s no risk of blowouts, so you will have peace of mind that all time is billable and you will have more certainty about the income and growth of your firm.

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Working with CloudForce is easy. It involves deciding on the access method, deciding on the services you require, appointing an ‘in-house champion’ within your Team and fine-tuning systems until you are entirely satisfied. First step is a face-to-face meeting with an Australian-based Consultant, who will get to know your firm, business objectives and challenges.

There is a reason so many Accounting Firms are turning towards Outsourcing. Harnessing cost-effective expertise provides your firm with invaluable advice and strategies to drive efficiency while saving you time and money.

Get in TouchReady to implement Outsourced services to boost your firm’s profit potential? Call 1800 CLOUDFORCE to schedule a free 30-minute consultation.

IMPROVES QUALITY AND EFFICIENCY

Contact Us today:Website: www.cfbs.com.auTelephone: 1800 CLOUDFORCEEmail: [email protected]

Take a look at our simple process:• When your client’s books and records come into your office, simply scan and upload the electronic copies to our portal.• Work is either undertaken on our system, in the Cloud or via remote access to your system.• Work is undertaken by a Cloudforce Accountant. Queries are emailed to your Team.• Your Team obtains any further information.• Work is completed and sent to a Senior CloudForce Accountant for review with workpapers and supporting documents.• Once the work has been completed and reviewed you receive an email confirming the availability of the files.• Work is reviewed by your Team. Revisions or adjustments are sent back to CloudForce.• The Job is finalised.• Your Team presents the work to the client.

ClientDocuments

All DocumentsProcessed

Cloudforce services include:

Accountants • Financial Statements • Income Tax Returns for all entity

types• Bookkeeping, BAS Statements

and Annual GST Reconciliations• SMSF Administration• SMSF Financial Statements and

SMSF Accounting services• SMSF Tax Returns• SMSF Audits• Company Audits• Cloud Migration• Complete Payroll Service

CloudForce

Client

CloudForce Portal or Accountant’s

System