The needs of our clients are paramount when we determine our course of providing services, this is our primary consideration. After 17 years of trial and experiment, and working with accounting firms from different industries, we have curated a unique outsourcing solution that is proving beneficial to accounting firms of all statures. Outsourcing has been revolutionizing the accounting industry and our model takes it a step ahead.
What is the Finsmart Accounting outsourcing model?
Known as the Accounting Seat, it is an embedded model. This outsourcing model is aimed to improve efficiency. Designed to function as an extension of the firm’s internal team, the Accounting Seat embedded model is not just about outsourcing. It is about embedding our expertise directly into the operations, ensuring that your processes remain uninterrupted and goals are met with precision.
Understanding the different types of Accounting outsourcing models
To better understand the Embedded outsourcing model, let us delve deeper into the other models that are available in the market:
Service Model:
This is a traditional model where work is assigned to an offshore team, and they are completed independently. This process is often transactional, with little to no integration between the client and the service provider.
In this model, clients have limited visibility into who is handling their work. They are often unsure who they can approach when things don’t go right. This lack of integration can lead to client dissatisfaction due to miscommunication, delays, and inefficiencies.
Team/People Model:
This approach gives clients more control over the selection of resources. They need to sift through resumes, interview candidates, and choose the team members that they like. Once selected, these team members will be onboarded and trained by the accounting firms, which can take up to several months to get the ball rolling.
While this model offers more control, it requires significant time and effort to manage. Clients must invest in training and onboarding, which can be a drain on internal resources.
Embedded Model:
In contrast, the embedded model offers the best of both worlds. The Finsmart Accounting team integrates fully into your operations, eliminating the need for you to manage separate teams or processes. We handle the training, onboarding, and integration, ensuring a smooth transition without the overhead.
This model helps organizations seek greater agility and seamless operations. With the embedded model, you don’t need to do anything differently than you would with your internal teams. We’re simply an extension of your workforce, bringing expertise, efficiency, and a deep understanding of your systems and processes.
Understanding the Accounting Seat Embedded Model in Details
At Finsmart Accounting, we believe, partnerships work best when there is a seamless integration. The embedded outsourcing model is focused on just that. Unlike traditional outsourcing, where there’s a clear separation between in-house and outsourced teams, our approach eliminates these boundaries. The key features of this model include:
- Embedded Team Integration: When you partner with us, our team becomes a part of your organization, working as though they are one of your own. All you need to do is assign our team members you will work with, on your email domain. When they work with you, they are like your team members using your details, integrated into your system.
- Tech Agnosticism: We take pride in being tech-agnostic, meaning our teams seamlessly integrate with your existing technology infrastructure. Whether it’s accounting software, communication tools, or reporting systems, our team will adapt to the platforms you already use, minimizing disruption and maximizing productivity.
- Daily Syncing: We ask you to include our teams in your daily, weekly, and monthly meetings. This helps ensure we are always aligned with your goals, timelines, and expectations. The result is a truly collaborative relationship that feels as natural as working with your in-house team.
Why is the Embedded Outsourcing Model relevant in today’s business environment?
The accounting landscape is evolving rapidly, and there is increasing pressure on firms to deliver more with less. The embedded outsourcing model addresses these challenges by offering:
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- Seamless Integration: With this model, accounting firms no longer need to juggle between in-house and outsourced teams. The embedded model ensures that all processes are unified, creating a cohesive working environment.
- Enhanced Collaboration: By participating in your regular meetings and using your communication tools, our teams stay in sync with your objectives, fostering better collaboration and faster decision-making.
- Cost Efficiency: Unlike the team model, where you bear the costs of training and onboarding, the embedded model takes care of these elements, allowing you to focus on strategic growth rather than administrative tasks.
- Scalability: As your needs evolve, our embedded teams can scale with you, providing the flexibility to adapt to new challenges without the friction of bringing in new resources.
- Staying connected to your teams: Unlike the service model, where you have no knowledge or interaction with the teams who work with you, our Embedded model is transparent. The accounting firms coordinate daily with the resources who are working with them. This gives a better sense of accountability, trust, and value for money.
Want to know how the Accounting Seat – Embedded Outsourcing Model can help you in your growth journey? Write to us at connect@finsmartaccounting.com.
Maanoj is Co-founder & Director of Growth Strategy & Alliance at Finsmart Accounting. He is an Outsourcing Expert, a People Champion, and a Dynamic Leader with strong Business Strategy and Scaling-up experience. He has incubated businesses, sold & exited ventures; helped build strong enterprises in very diversified verticals like Fintech, HR & Consulting spaces in various CXO capacities over the last 20 years.
