The last few months changed everything for the business community. As owners try to navigate the complexities of government stimulus bills, lay-offs and lost customers, it’s critical to make the right decisions and lay a successful foundation for their businesses post-coronavirus.
This crisis exposed many of the weaknesses facing our nation’s business owners, but has also illustrated opportunities, one of which is a renewed focus on the benefits of outsourcing non-core business activities. Outsourcing things like finance and accounting, HR and payroll to a cloud-based service provider will help business owners overcome obstacles that are a direct outcome of the health pandemic, resulting in:
- An improved focus on core business
- Lower overhead costs and increased cash flow
- Daily expert insight into your business’s financial health to proactively address risks
- Staffing flexibility and reduced need to have employees onsite
It may seem counterintuitive to make changes to your business at a time like this, but outsourcing finance and accounting processes can be implemented quickly and efficiently, without disrupting business. Prior to the coronavirus crisis, 57% of business owners said outsourcing these tasks meant they were able to focus on growing their business, while 59% said that it reduced cost and increased cash flow. These are two essential areas in the recovery process and the benefits to a small business who adjust quickly could be dramatic.
In the post-coronavirus world, small businesses are going to have to run leaner, more efficiently and will require an even clearer picture of their organization’s financial health. Surrounding organizations with reliable, affordable, expert cloud-based resources will ensure that as many businesses as possible manage this crisis and thrive on the other side.
How TAG™ Can Help
TAG™ provides cloud-based, pre-configured business infrastructure for all types of industries. Our experienced team of trained CFOs, CPAs and accounting professionals believe all businesses should have access to the same technology, best practices and expert services. Our process is efficient, secure, and accurate, allowing our clients to focus on growing their business.