Increase profits by outsourcing in a time of uncertainty
In order to stay competitive in today’s quick-changing business climates, businesses, regardless of size or industry, must constantly be looking at ways to control costs, increase efficiency and profits. This is particularly true in 2020 when we look at the impact the COVID-19 pandemic has had on companies.
Companies of all sizes are working harder than ever before to reduce their overhead expenses without negatively affecting overall efficiency. During this economic climate during the pandemic and even post-pandemic, an opportunity has arisen for many businesses who have previously been hesitant to consider outsourcing their finance departments.
Outsourcing can prove to cut costs and increase efficiencies
The pandemic has brought to the forefront many of the immediate and long-term benefits of outsourcing certain functions. Outsourcing some of a company’s day-to-day operations can prove critical to the success of a business. Outsourcing specific tasks, like debtors and creditors functions, reporting as well as payroll, can go a long way toward helping organisations achieve their goals, reduce overhead costs and ensure they and other in-house employees are spending their time and energy on core competencies that drive the growth of the business.
By outsourcing necessary, but time-consuming functions, your team can focus on what they do best. This still allows for accurate and organised financial records, without which the long-term success of your organisation could fall short.
Unfortunately with COVID-19, uncertainty has become the new norm. By outsourcing some of these financial functions, you can now eliminate some of these uncertainties and the risks that come with it, which include hiring, staff turnover, retrenchments and re-hiring. Outsourcing also offers financial predictability during these challenging times. When working with an outsourced partner, you are working within a defined, fixed budget, making it easier to plan going forward.
Malander Advisory’s outsourcing function
Malander Advisory offers outsourcing as part of its service offering to its clients with the ability to provide a flexible solution and on-demand resources to meet your changing needs. The team of experts at Malander Advisory can react quickly to your needs at any precise moment, giving you the right level of expertise and resources, at a reasonable cost, when you need them and within the time-frames required.
Malander Advisory currently provides outsourcing solutions for the following functions:
- Accounts Receivable
- Accounts Payable
- Bank and cash
- International and local taxation.
The professionals in the Malander Advisory team are geared to take responsibility for your business processes with access to the latest information from worldwide sources and networks as well as access to the most reliable systems, can enhance the processes within your finance function.
As your organisation continues to recover from the impacts of COVID-19, it’s time to focus on the core competencies of your business and what you do best – not the “back office” functions that take up your time. Learn more about how working with Malander Advisory will allow you to do all of this, while getting all of these important areas taken care of.
Earlier this year, the Malander advisory team was named best accounting and financial advisory firm in Johannesburg in the 2020 Worldwide Finance Awards hosted by Acquisition International.
Having reached the 5 year milestone on this day, the team at the Malander Group is certainly appreciative of the support to date and is looking forward to going from strength to strength.