Written by: Todd Ellis, CPA, MST, CGMA
Virtual accounting has become a key solution for businesses seeking effective and efficient financial operations. But as its popularity grows, so do misconceptions.
If you are considering working with a virtual accounting team for supplemental help or for your entire accounting team solution, keep reading to learn what you can expect from the experience.
The Assurance of a Tailored, Consistent Team
One might be led to believe that working with an outsourced accounting team is a generic, detached experience. However, the reality couldn’t be further from the truth. Engaging a virtual accounting team offers a hand-picked, crafted team to cater to your business’s unique dynamics and needs. Consistency is key here. Over time, this dedicated team becomes intricately intertwined with your operations, just like full-time employees, ensuring your financial tasks are completed with precision and expertise. Essentially, they’re not just an outsourced entity—they become an integral part of your business operations team.
Efficient Onboarding for Smooth Transition
Moving to a virtual accounting model might appear challenging, but with the right team, the transition is very seamless. These professionals use a structured onboarding process, diving deep into your business’s operations, workflows, and deadlines, documenting everything relevant, and providing advice on best practices and procedures. This ensures a service catered to your specific business needs.
Clarity in Communication: The Beacon of Alignment
One of the biggest challenges business leaders face is managing endless emails and tracking communications. A virtual accounting team addresses these concerns with a clear communication strategy. Having a designated point of contact and ensuring regular updates keeps the process transparent and efficient, ensuring your core team and the virtual professionals are aligned and informed.
A Panoramic View of Financial Expertise
Beyond the confines of accounting debits and credits, virtual accounting teams often are treasure troves of diverse financial expertise since they are typically part of a full-service CPA firm. Need insights on the latest tax reforms? Or perhaps guidance on intricate audit intricacies? With their vast reservoir of experts across domains, these teams provide a holistic financial advisory solution under one cohesive banner. This multifaceted approach ensures you’re always ahead, equipped with insights and expertise beyond mere numbers.
Dispelling the ‘Physical Proximity’ Myth
In an era where global teams collaborate seamlessly across geographies and time zones, the myth of physical proximity dictating efficiency has eroded significantly. The digital age, with its suite of tools, cloud platforms, and advanced communication channels, ensures that virtual teams can rival, if not surpass, the efficiency of their on-site counterparts. More so, with today’s tech-savvy solutions, your virtual team is but a click away, ensuring real-time collaboration and decision-making.
Embracing the Virtual Accounting Revolution
Opting for a virtual accounting team is more than just following a trend—it’s recognizing the evolution of modern business practices. With expert teams, clear communication, and wide-ranging financial expertise, virtual accounting significantly benefits today’s businesses. It’s about augmenting the skills of your in-house team with specialized expertise, ensuring you stay at the forefront of industry innovation.
Considering a shift to virtual accounting? Walter Shuffain is here to guide you. Our team is committed to offering top-tier virtual accounting solutions tailored to meet your specific business needs with teams who have worked for and advised a wide variety of enterprises and organizations. Connect with our experts today and elevate your financial operations.