In the dynamic landscape of midsize companies, financial team limitations often emerge as a critical bottleneck. This does not only appear in smaller companies. You might have a robust team for daily bookkeeping but lack the expertise for keeping up with accounting principles and tax regulations, recognizing and recording complex accounting transactions, performing a timely monthly closing or preparing for your annual audit. This gap not only hinders operational efficiency but also poses a strategic disadvantage. Outsourcing accounting functions presents a versatile solution, offering both immediate relief and long-term strategic benefits.


Why Midsize Companies Opt for Outsourced Accounting

  1. Streamlined Staffing Solutions: The process of hiring specialized financial roles—such as an accounting manager or controller—can be daunting, expensive, and time-consuming for midsize companies. Outsourcing circumvents these challenges, providing flexible, on-demand access to a comprehensive suite of accounting services. Whether filling in for missing roles, either temporary or on-going, or augmenting the capabilities of existing staff, outsourced accounting acts as a tailored, scalable solution to meet your company’s unique needs without the overhead of traditional hiring.
  2. Access to Specialized Advisory Services: Beyond day-to-day financial management, the true value of outsourced accounting lies in strategic advisory services. Many companies excel at managing their routine accounting tasks but lack the foresight and strategic planning required for growth and efficiency optimization. This enhances the historical nature of accounting reporting to a more proactive approach to review and interpret results for timely decision making. Outsourced accounting brings an external perspective, offering informed advice and actionable strategies for financial management, from budgeting, forecasting, monitor key performance indicators,  revenue and expense analysis to risk management.

Key Benefits of Outsourced Accounting for Midsize Companies

  • Budgeting and Forecasting Expertise: Regular, meticulous budgeting and forecasting are crucial for sustained business growth, yet they often fall by the wayside due to resource constraints. Outsourced advisors can take ownership of this process, providing detailed analysis and adjustments that ensure financial plans are both ambitious and achievable and remain current with consistent communications to the appropriate level of management.
  • Proactive Trend Analysis and Data Utilization: With a comprehensive understanding of both historical performance and current market conditions, outsourced accounting services empower business leaders to make informed decisions. Reviewing key metrics is a proactive approach to trend analysis and data interpretation to support strategic decision-making and long-term planning. Again, it is using the historical accounting reporting for more proactive business planning.
  • Guidance on Growth, Exit Strategies, and Risk Management: Whether contemplating expansion, planning for an exit, or assessing new ventures when the opportunity arises, you want to be ready. Having timely report is essential. Access to seasoned accounting advice is invaluable. Outsourced accounting offers a sounding board for major strategic decisions, ensuring that financial considerations are thoroughly evaluated and aligned with your company’s objectives.

LGA’s Commitment to Tailored Outsourcing Solutions

At LGA, we understand that no two companies are alike. Our Outsourced Managed Accounting team is dedicated to customizing our services to fit your specific needs. We work with your current Team, so your personnel do not have to be tweaked for outsourcing to be successful. We believe in the Team approach so that everyone plays their dedicated role of their highest and best use and the LGA Team supplements wherever and whatever is needed with additional bandwidth and/or expertise to achieve a full functioning accounting Team. By identifying inefficiencies in your current financial processes and filling critical gaps in your team, we aim to enhance profitability and operational agility. Our goal is to empower you with the financial clarity and strategic guidance needed to navigate challenges and seize opportunities with confidence.

Ready to Transform Your Financial Management?

If you’re exploring the benefits of outsourcing accounting for your midsize company, LGA is here to help. Our team is committed to understanding your unique challenges and goals, providing personalized solutions that drive efficiency and growth. Contact us today to learn how we can support your journey towards streamlined financial management and strategic success.

by Janine M. Danielson, CPA