Four Reasons CEOs Are Going Virtual With Their Bookkeeping

04 May Four Reasons CEOs Are Going Virtual With Their Bookkeeping

Posted at 08:00h in

Virtual Accounting

by Becky Brown  •  0 Comments

4-Reasons-CEOs-Are-Going-Virtual-With-Their-Bookkeeping.jpgBeing a CEO is much more than a job. Oh, it’s a job title, all right, but it really encompasses a number of different roles. Let’s be honest. Every aspect of your business falls under the CEO’s umbrella of responsibility. It’s on your head to keep everything running as it should be, keep your workforce happy and healthy, keep everything in compliance, and stay on a steady path of growth.

We know that you’re always looking for ways to improve processes and increase your bottom line. Shifting from in-house bookkeeping to an outsourced, virtual solution can help you achieve these results. Here are some of the reasons that more and more CEOs are moving their bookkeeping to the cloud: 

  1. It’s a cost-saver.

We really don’t want you to think of virtual bookkeeping as a bargain basement solution, and I’m sure that’s not what you’re looking for. But time and time again, we’ve seen examples that prove that outsourcing bookkeeping tasks to a virtual accountant is a less expensive solution than managing it in-house. As CEO, you’ve always got to be concerned with the bottom line, and this provides a great opportunity to improve that.

  1. It’s safe and secure.

No matter what field you work in or what your background is, you wouldn’t have gotten to be CEO without an acute sense of the importance of security matters. This of course includes the physical security of the company and its property, as well as security of intellectual property and data, particularly in case of financial information. Traditional accounting leaves a number of potential security holes, with records kept on-site and the possibility of employee dishonesty. Outsourcing your books to a virtual accountant takes it all off-site, and puts it in the hands of trusted professionals. All of your data will be stored on the most secure of servers, protected by bank-grade cutting edge encryption methods.

  1. It eliminates waste.

As CEO, you’ve got to be aware of areas in which you can eliminate unnecessary spending. Maintaining an in-house bookkeeping and accounting staff is an area in money is lost due to the need to keep a steady level of staffing, regardless of your workload. With virtual accounting, you’ll contract for and pay for only the services you need and use. There’s no need to pay salaries and benefits to a larger staff than you need, just to be prepared for the “busy season”.

  1. It saves HR costs and other overhead.

You don’t just pay salary to your staff members. There are healthcare benefits, as well as a stack of other expenses, including office space, computer hardware and software, vacation and sick time, and so on. There are significant costs as well in recruiting, hiring, and training new employees. Move it to a virtual accountant, and this is all out of your hands. They’ll assign the necessary team to work on your accounts, and keep you out of staffing and related issues.

 

Topics: Virtual Accounting