Over the past few weeks we have published a series of blogs looking in depth at a number of areas where outsourcing services can help you and your business. Primarily we have focused on areas that your accountant can help with including bookkeeping, preparation of accounts, VAT returns and payroll. We have also considered how your accountant’s business contacts can help you and your business. These include solicitors, finance providers, HR consultants and GDPR experts. In the final article of this series we summarise some of the key benefits of outsourcing to your business.
What could you do with the extra time gained from outsourcing tasks you used to do? You may choose to spend more time on the business focusing on your strategy. Or you may use the time to deal with important tasks that you can never find the time for. You will have more time to meet new customers and explore new markets and services to enable you to grow your business. Alternatively you may decide to improve your work/life balance and outsourcing some tasks may enable you to have a few evenings off!
Engaging an external expert to do those regular tasks will also give you fewer things to worry about. Consider outsourcing your payroll for example. No need to worry about changes in legislation, tax allowances and rates or Auto Enrolment. No need to spend time and money on software and training your staff and keeping them up to date. No need to worry about deadlines for filing those returns. Your accountant will handle all of that. You just agree the scope of work and the timetable for delivery and leave your adviser to do the work.
It is very rare that you see a business with endless amounts of resource. We generally see businesses with combined accounting and customer support teams – so by outsourcing all, or part, of your accounting functions, it allows you and your staff to focus more on the strategic direction of the business, and its core activities that allow you to service your customers. By working closely with you your accountant will better understand your objectives and how the business is performing and can provide expert help to put your strategy in place and work towards achieving your long term goals.
Some business owners see outsourcing as an additional cost and as a result will disregard the option of outsourcing any work. However outsourcing can result in cost savings. Instead of spending time preparing the payroll or the accounts you and your staff can focus on your areas of expertise. Having external input can give you independent advice on strengths and weaknesses and can identify cost savings and benefits which bookkeepers and internal accountants may not. Very often the value of outsourcing is not just in getting the task done it is also having access to expert advice.
You are also able to benefit from economies of scale and expertise from your outsourced advisor. Additionally, if you choose the right outsourced advisor, you will be able to take advantage and benefit from the latest methods of accounting and technological advancements in the accounting industry. These include powerful cloud based accounting applications that are likely to be significantly cheaper and more suitable to your business than your current desktop software.
At DNG Dove Naish we have offer an extensive range of services to ensure we can help our clients no matter how diverse their needs. We work to understand each client’s affairs so we can tailor a service to meet particular needs and therefore deliver value. Contact us to arrange an appointment to discuss what we can do for you and your business.
Please see below links to the blogs we have published over the course of our outsourcing series:
"I can't praise DNG and Katie enough, I was already convinced I wanted to go ahead with the QuickBooks set up so on the initial visit Katie just gave me a tour of the site and showed me exactly what to expect. Katie gave me confidence, allowed me to have a 'play' with the programme while she was with me giving hints and tips. I felt totally at ease with Katie almost immediately and I have had occasion to email a couple of queries and have found the response timely and very helpful. I would definitely recommend DNG and QuickBooks."
"With the help and advice from DNG I have now had Xero installed for my accounting purposes. Although this was a worrying prospect for me I have to say that Xero is very straight forward and easy to negotiate. Everything was set up and geared for our purposes and has been a very positive experience. In the event that you require help the explanations and instructions on the help bar are brilliant and written in layman’s terms.
I don’t think I would have progressed so well without the help and support of Jo and Sarah from DNG. They put everything in place and guided me through all the procedures and gave me confidence. So much so that within two months I had ditched my manual accounting books and am doing everything on Xero. Its great to always have someone to ask even this silliest of questions at the end of the phone or emails! Thank you Jo and Sarah!"
"I have had nothing but a positive experience over the past 5 years from DNG. This tax year they have been particularly fantastic at saving me a considerable amount of money and advising on future payments. Their fees are probably the best money I spend every year. I’ve been asked for their details from 2 friends and family as a result. I would thoroughly recommend them as not only do they get good results, they are very easy to work with."
"We have been very impressed with the service we have received from DNG since outsourcing our payroll at the start of 2017. Our payroll/auto enrolment is not straightforward. Not only do DNG deal with the pension complications effectively and efficiently each month, they also identified errors we made in earlier years enabling us to recover nearly £4,000 of overpaid National Insurance contributions. We are pleased to recommend DNG, and their payroll team in particular, for their professional and diligent approach to providing their services to us."
"DNG provided us with invaluable advice and support as we negotiated our way through a recent MBO. They were super responsive and patient with our never ending questions and queries. I wouldn’t hesitate to recommend their services to other small businesses."
"Halcyon has been with DNG since 2000. In that time they have become an integral part of our business success. Not only do they provide the statutory auditing services but they have become our "Critical Friend" - offering advice and guidance at crucial stages of the Company's evolution and development. It's hard to imagine not having them there.
We are delighted with the quality of service they provide - always professional, always timely and always valued.”
"Jones Wholesale have been clients of DNG’s payroll facility for many years and would not think of changing to any other option. The consistency of service received is extremely reassuring and the staff I have experienced have always been efficient and a pleasure to deal with.
To know that calculations and reports will always be accurate and timely is of paramount importance to me and their knowledge and advice on personnel and tax/benefit matters has proved particularly valuable."
"The British Institute of Non-Destructive Testing (BINDT) has used DNG’s services for over 25 years. DNG are active participants in the day-to-day function of the Institute’s Finance and Accounts department.
BINDT is reassured in the knowledge that the staff at DNG are always on-hand with viable solutions and dependable advice for any financial query passed their way.
DNG provide outstanding payroll and budgeting support to BINDT and are consistent in preparing for and providing a thorough audit of the Institute accounts.
The support and services BINDT receives from DNG are second-to-none."
"iSAMS have been working with DNG since 2008 and they were not only chosen on the basis of their excellent reputation locally but also on their expertise in our particular area of activity.
DNG are our ideal partners and have helped us maximise on the exciting growth our business has seen during its infancy. We particularly value the on-site and personal service provided by the Management Accounting and Systems Support team.
We are more than delighted with the services that they provide and would strongly recommend DNG to any company or individuals seeking very professional and friendly advice."
"Barton Petroleum Ltd have been using DNG’s payroll services for many years now and value highly the confidential and personal service which they deliver. Their speedy and efficient resolution of complex queries is particularly appreciated.
DNG represent excellent value for money at a time when all forms of expenses are under the microscope and I would have no hesitation in recommending them as an outsourced bureau."
"DNG’s approach and conscientious attitude have been invaluable to my business and I could not have done without their expertise. Knowing the payroll for my employees, at the Tattoo Club is in safe hands has allowed me to concentrate on other issues within my business.
I pass on my sincere thanks to them and hope that we will continue our business association well into the future."