Are You Frustrated by or struggling with:
- Outdated technology and processes that do not accommodate the mobile world of today?
- Having accurate, timely, and useful financial information for decision making?
- Finance/accounting personnel changes?
- Keeping up with ever-changing regulations?
- Being able to address complicated nonprofit compliance issues with confidence?
- Lack of “in house” expertise?
- An old school labor-intensive, paper-driven, check payment process?
Questions to ponder for keeping accounting in-house:
- How does insourcing the process/function support the organization’s core purpose, strategic objectives, or plans?
- What are the benefits and limitations of continuing to insource the process/function?
- What investment in resources such as personnel, technology, training, or process improvement is required to ensure the organization continuously possesses the expertise sufficient to properly manage risk, ensure compliance, and perform the process/function efficiently?
- To what extent might the impact of outsourcing affect the current process/function – personnel, technology, facilities, etc…?
- What strategic opportunities can the organization take advantage of by outsourcing?
Questions To ponder when considering outsourcing:
- Is performing the process/function central to why the organization exists?
- Does the process/function directly fulfill our core purpose?
- Is the process/function something we feel organizational leadership must have direct involvement in? If so, why do we feel this way?
- Does the process/function interface with our key constituents on critical matters?
- Does the process/function relate to the organization’s primary revenue source?
- How significant is the risk of not getting the process/function right?
- Are there complex or significant compliance matters related to the process/function?
- Does the process/function require a significant level of technical or professional expertise?
- Are the right people handling the work?
- Are we overly dependent on one person?
- Does the process/function take too much of management’s time?
- Are we able to perform the process/function efficiently and effectively?
- Have we considered all of the hidden or indirect costs of insourcing the process/function?
- How important is cost savings in light of all of the previous questions?
GuideServe® is not a CPA Firm.
Where required, GuideServe® public accounting services provided through an agreement with Bianchi Financial Solutions, LLC (a CPA firm).
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