With the uncertainty of how long the COVID-19 pandemic will continue and the current state of the South African economy as a result, many business owners are having to re-evaluate their costs and ask themselves how they can save money. One obvious way many business owners consider is bringing more skills inhouse, whether it be assigning more tasks to existing staff or to hire a new employee, but while the figures may be more appealing on paper, not outsourcing and leaving the experts does come at a cost.
No matter the size of your business, contracting out operational tasks such as your accounting and tax functions provides a multitude of benefits. Below we discuss the importance of outsourcing to the experts:
1. It provides continuity
Outsourcing skills provides continuity to your business as sick leave, annual leave, family responsibility leave or resignation does not affect your service being delivered. Instead there is always a team available to work on your requests 24/7.
2. Increased efficiency & access to skills
When you outsource your business needs to an outsourcing partner like Emma Pardoe Chartered Accountant (SA), we bring years of experience and expertise. This allows us to do the job better as we have the knowledge and understanding of this field which ultimately leads to an increase in productivity and efficiency in the process. We are also able to ensure that tax deadlines are never missed.
3. You can focus on your business
Hiring staff, training and managing new employees in a new department takes time that could be used to focus on the building and development of your business. Outsourcing allows you to prioritise your business while we handle the more difficult and complex checks and balances of your taxes and accounting affairs.
4. Faster & Better Service
By outsourcing to experts, you are guaranteed faster and better services as a team is able to focus on your business needs. We are able to use our combined knowledge and experience to assist you as quickly and efficiently as possible, ensuring that your tax and accounting matters are up to date, correct and compliant. You also have access to qualified professionals to ask all your accounting and taxation queries. This also ensures that the integration between your annual financial statements and taxation calculations gets assessed by qualified experiences managers where the best taxation option is put forward. As we are the experts and you are contracting out to us, we take full accountability for the work performed which is in your benefit as well.
When considering how outsourcing can help you grow, don’t limit yourself to looking at the cost of outsourcing versus handling a task with your current staff or new employees. Instead focus on the value an outsourced contractor’s expertise adds to your company, as the benefits are more than their money’s worth. Whether you are a sole proprietor or a director of a company, businesses of every size can use outsourcing to ensure their company is run more efficiently.