“What do I mean by concentration? I mean focusing totally on the business at hand and commanding your body to do exactly what you want it to do.” Arnold Palmer
If I asked the leaders of nonprofit organizations and associations, as well as business owners, how much time they spent on their true business at hand, or the things that matter most, I’d venture to say that most of them would say “not enough.”
When I bring new clients on board, I find that many of them spend a lot of time shifting through mounds of paper, trying to stay on top of vendor bills and payments and other administrative activities. By outsourcing their back office functions to Consultance Accounting and switching to Bill.com, an automated bill payment process solution, organizations can focus on what matters most, and let us handle their bookkeeping and accounting needs.
As a cloud-based firm that provides outsourced accounting services to clients across the country, Consultance Accounting leverages the use of top technology platforms, such as Bill.com, to streamline our clients’ operations. Bill.com is a bill payment process solution that integrates with QuickBooks Online and other accounting systems. Bill.com outlines Ten Reasons to Outsource (and Upgrade) Your Bill Payment. Here’s my take on some of the key points they discuss:
Get Rid of Paper Hassles: Have you heard of that tip about handling a piece of paper only once to increase your efficiency? With an automated bill pay solution, you can take that tip to the next level by eliminating those pieces of paper entirely! Here’s how it works for our clients’ Accounts Payable processes: We work with clients and their vendors to eliminate all paper bills, so instead, they are electronically remitted directly to a dedicated Bill.com email account. From there, our accounting specialists ensure the proper account coding and payment dates, and the Bill.com system will automatically forward the on-line bills to the appropriate people for approval. All the supporting documents are stored securely on-line, leaving you with a paper-less work environment.
Enhance Your Mobility: Do you ever feel like your handcuffed to your desk due to all the administrative work you have to handle? By outsourcing your accounting function and using Bill.com, you can free yourself from your physical office space and conduct business anywhere using your mobile device(s). This occurs for multiple reasons. First, you eliminate the need for an in-house bookkeeper to handle your accounting transactions, which saves you the time in the office managing that employee. Second, your vendor and payment data is easily accessible on your mobile device(s). As a business owner who is always on the move, I can personally attest to how easy it is to access my vendor invoices using my smart phone. For example, if a vendor calls me up and asks about a payment, I can easily pull up the Bill.com app on my smart phone, review the vendor’s information, and approve a payment on the spot. It’s that simple.
Experience Financial Savings: In addition to helping you reprioritize your precious time, it’s important to note the opportunity to save money too. By outsourcing your back-office functions to an accounting services firm, you can reduce your employee-related overhead costs (e.g., training, office space, benefits, etc.). By using a bill payment solution like Bill.com, you can save by transitioning your paper checks to electronic payments. Bill.com estimates that the total yearly cost for paper checks can be $24,540, as compared to total yearly cost for electronic payments of $1,680. Click here for more info.
Summary: If you’re like most business owners and leaders of nonprofit organizations, you take great pride in the services or products you provide. You want to focus your time and energy on business strategy and goals. Outsourcing your back-office functions to a dedicated, highly-skilled accounting services firm that uses proven technology apps to streamline your workflows allows you to do exactly that.
So, are you ready to concentrate like Arnold Palmer? Whether it’s serving your customers, fundraising for future growth, or expanding your reach in the community, Consultance Accounting in partnership with Bill.com can help you save valuable time, reduce operating costs and gain peace of mind that you’re focused on what matters most. Contact Us if you’d like to learn more.
Consultance leverages exceptional talent, proven processes, and top technology platforms to deliver timely & accurate financial solutions that help small and medium-sized organizations improve productivity, increase profitability, and achieve their goals.