Ten benefits of outsourcing

For many SMEs, outsourcing finance related tasks such as payroll, VAT and accountancy can be a much more cost effective solution, giving you time to focus on your business. Richard Bell, Associate at DTE Business Advisers, looks at 10 good reasons for SMEs to outsource.

1. Wearing too many hats
Outsourcing can provide SME owners more time to do what they do best – run their business. Don’t spread yourself too thin.

2. Quality of financial information
Better information produced more timely: helps the owner to understand the business better and make more informed decisions.

3. Experise
Your outsourcing partners are experts in their field and have access to a wider range of specialist resources. This knowledge is almost impossible to replicate internally for SMEs either via training or hiring.

4. Cost effective
Your outsourcing partner can provide expert advice but at a lower operational staff cost. Fixed menu pricing leads to savings on wages and employee benefits and greater visibility on the cost of running your business.

5. Continuity
Big companies can afford large internal teams, but SMEs often only have one or two staff who split their time between finance and other duties. Outsourcing provides continuity each month, regardless of holidays or absenteeism.

6. Confidentiality
Outsourcing sensitive information such as payroll helps to keep all personal and salary details, and wider financial information, secure from internal influences.

7. Sounding board
Your outsourcing partner will have the ability to spot opportunities or threats to the business and identify them in good time, as well as offer complementary services or specialisms and act as a management sounding board.

8. Scalability and flexibility
The ability to scale to the size of the job at hand almost overnight means that resources and head counts are never a worry – you have peace of mind.

9. Red tape
Staying ahead of legislation and compliance is a full time job, as well as dealing with the burden of paperwork required by statutory bodies. Let the experts keep you on track and avoid fines.

10. Staying up to date
There’s no need to worry that software or payment systems are up to date as your financial outsourcing partner will take care of this for you.

A wealth of experience
DTE are total business advisers, specialising in accounting & audit, bookkeeping, IT support, payroll, tax consultancy, corporate finance, forensic accounting and financial planning. We are commited to providing effective solutions to any commercial challange that you may encounter.

For further help or information please do not hesitate to contact Richard Bell on 0161 767 1200 or email
Please view our website at www.dtegroup.com