Finance and Accounting
Outsourcing finance and accounting has many advantages, including lower operating expenses, quicker employment of qualified personnel, no need to hire temporary workers to cover busy periods, better cash flow, and the ability to make data-driven decisions.
Orion IT Services’ Finance and Accounting outsourcing help you to:
- Plan your company’s long-term financial future strategically.
- Receive timely and precise insights for better financial control.
- Create precise P&L forecasts for the business to aid in budgeting.
- Identify potential candidates for mergers and acquisitions
- Keep track of the company’s operating efficiency and key performance indicators (KPIs).
With the help of our FAS automation, your business can automate its essential operations, such as payroll processing, expense reporting, accounts payable, and bookkeeping. It enables you to complete monthly and quarterly closures on time, properly, and constantly while using the same amount of current resources.
Our FAS automation enables businesses to coordinate all internal systems in real-time and automate all swivel chair activities. It enables business resources to generate reports automatically and frees up executive time for analysis of financial data and developing trends to plan business expansion in close collaboration with other business teams and business leadership.
2022 Trends for Finance and Accounting Outsourcing at Orion
Authentic finance and accounting
The Finance and accounting sector is steadily moving into the digital sphere, which makes it simpler to keep financial records and books completely up to date. Full-integrated accounting software is now readily available, allowing accountants to assist you in updating your books each time a transaction takes place. Utilizing the most recent financial data available, businesses may comprehend their financial situation and make data-driven judgments.
Incredibly technological automation
Businesses that don’t follow the automation trend risk staff burnout due to poor communication, disorganization, delayed processes, and higher worker engagement. In the end, all of this could distract you from your primary task and raise your operating expenses. Artificial intelligence and machine learning are also significant themes in accounting and finance. AI, for instance, can assist businesses in quickly compiling massive data.
Advanced technology
Our advanced financial modeling has enabled financial and accounting professionals to produce more accurate and superior financial models than ever before. Financial modeling is crucial because, without a timely and accurate cash flow prediction, your business may experience unforeseen issues and surprises. You can more effectively forecast future outcomes and possibilities by building financial models with a larger range of inputs, and you can then make plans appropriately.
Bundles of individualized financial and accounting services
Before recent changes, many finance and accounting firms offered an all-or-nothing approach to accounting. We have witnessed a significant trend toward customization due to greater customer centricity in business and the realization that every organization has specific needs. The a la carte method enables businesses to select only the services they require, enhancing the value of their accounting team .
Transcription services
Our professional transcriptionists quickly and accurately transcribe your audio and video files, whether they are general, legal, business, or medical. We prioritize accuracy and on-time delivery.
Secure audit prep work
Audit trail monitoring will continue to be crucial. Use document management software or accounting software instead of paper-based accounting records if you want to automatically categorise everything.
When the outsourcing sector first started to take off, businesses would employ an accountant to visit their office frequently. Though it’s now typical for the company and the accountant to never meet in person thanks to recent technological improvements. Firms now have access to a larger worldwide network of professionals, making it simpler for them to find a finance and accounting partner who fulfills their requirements. Companies are increasingly outsourcing more significant and complicated tasks including financial research, forecasting, and planning of budgets.