Outsourcing Financial Services in a Post-recession Environment

Expertise, peace of mind, and operational savings are the key benefits that drive entrepreneurs to outsource key functions for their company. To get value for your money by outsourcing it is essential to first determine whether it is the right time for you to outsource. Here are three signs it time for you to outsource:

  • Your time is more valuable spent in a client facing role: if your (time) opportunity cost per hour is $150/hr and the cost of a contractor is $50/hr doing the same job which is their core competency – it is time for you to save money by outsourcing.
  • The cost of hiring a full time staff – paying taxes, insurance and benefits marginalizes expected profits from that employee it is time for you to outsource and perhaps get a more productive employee. Some outsourcing firms have calculators to help you calculate your savings when deciding what services to outsource.
  • You are not comfortable handling sensitive roles like the financials of your company and would prefer focusing your efforts on what you are confident in. It is time for you to outsource this service to experts.

Partner with Bluefront Capital to enjoy the benefits of expertise, reliability as well as saving time and money. Bluefront Capital has a comprehensive part-time CFO package that offers you more than the traditional budgeting, financial reporting and planning; it includes operations and back office support like AP, AR, collections and bookkeeping.

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