When you’re looking for an outsourced accountant, it can be hard to know where to start. What makes one accountant better than another? How do you compare quality and your budget? What decisions can you make to get the most bang for your buck?
Every outsourced accountant is different. Sometimes it’s just one person who does all of your bookkeeping (aka a bookkeeper). Other times, it’s an entire team working to make sure your finances are in order and there are no red flags that need to be taken care of. Whether you choose an outsourced accountant or a bookkeeper, you need to be sure that whoever you choose is high-quality, reliable, and has a proven track record of success with tech startups.
Here are five important traits to look for in an outsourced accountant for your tech company.
[STOP] Having trouble meeting franchisor requirements due to accounting or finance? -> Let's Talk
How long has your outsourced accountant been in the business? Almost more importantly, who have they worked with in the past? Tech startups face some issues that are unique to their stage of growth and industry. If your outsourced accountant isn’t familiar with those challenges, they could steer you down the wrong path.
When looking for a great outsourced accountant, find out how long they’ve been in business. Why did they start their company? What was their experience before working for themselves?
Global Shared Services was founded in 2003 with a goal to provide tech startups with the financial expertise they need to succeed. Now, over a decade later, we have offices worldwide and the years of experience that you value.
No matter what industry you work in, technology has evolved over the years and is continuing to evolve every single day. If you’re working with a team that is using outdated tech, you’re not only wasting money on lost productivity, but you could be putting your business at risk.
Too often old technology has security programs that sorely need to be updated. Cutting-edge technology complies with all of the regulations that keep your financial data safe. You can’t be too careful when it comes to financial information and security. Digital technology allows security teams instant access to the files and records they need to keep an organization safe.
As environmental concerns continue to mount, cutting-edge technology reduces the amount of paper your accountant uses. The less paper they use, the fewer trees are cut down. Paperless technology also has big benefits for you. We focus on providing cutting-edge technology solutions that streamline your financial processes.
A Great Team
Unless you’re working with a single-person bookkeeper, your outsourced accountant will have a team behind him that helps with all of the accounting for your organization. Because your accountant is working with a team, you need to be able to trust that his employees are just as diligent and knowledgeable as the team leader.
Before choosing your outsourced accountant, ask how he chooses his team members, how many years of experience they average, and how he handles access control in his organization. Too often security breaches occur because an inside employee wasn’t careful enough with his credentials or fell prey to a phishing email. These situations can be avoided by using careful access control throughout the organization. Essentially only those employees that absolutely need access to your tech startup’s records are allowed that access.
Track Record of Success
Before handing over your tech startup’s finances to an outsourced accountant, ask for testimonials. Years of experience on the job doesn’t matter unless those years have been filled with happy clients who have been provided with excellent service. This can be difficult to diagnose from just a few words on the website.
Do some research on your potential new accountant. Are there any negative reviews on Facebook, Yelp, or Google? Vice versa, does he interact with his current customers in such a way that portrays a good relationship? Look for signs that the outsourced accountant cares about his customers. Does he promote their events? Interact with them online?
If possible, you can also request to speak to one of the outsourced accountant’s past customers. This way you can get a feel for the quality of the services, customer relationship, and more from an unbiased source.
Many outsourced accountants can provide your business with financial strategy, goal planning, and more. However, not everyone provides your company with tailored advice. When choosing an outsourced accountant, you want to work with someone who can pull upon their years of experience to provide you with a plan customized to your company, industry, and goals.
For example, a tech startup with the goal of attracting more investors will have a vastly different plan than a fast food restaurant who wants to handle rising labor costs.
The right outsourced accountant for your company may look different than an outsourced accountant for another company. When choosing the right accountant for you, look for expertise, secure technology, a trustworthy team, great testimonials and financial services that are customized for your tech startup.
Luckily, you don’t have to look far.
When you work with GSS, you get affordable access to experts who can provide you with cutting-edge tech and full-service solutions. We specialize in franchise accounting, so you don’t have to worry about a team that doesn’t understand your industry. We know the financial challenges companies like you face and how to prevent them from happening.
Are you ready to scale your business with an outsourced finance and accounting team you can trust? Talk to us today.
Looking to Grow Your Franchise and Save Costs?SEE OUR SERVICES
With GSS, we meet our franchisor requirements on time and with accuracy. The local CPA could not handle our volume. We are so happy to have made the change. GSS knows our business and our franchisor requirements.Multi-unit fast sandwich Owner