Blog | 23 Jan 2024

Why You Should Outsource Your Finance Department (Part III: Make Smarter Business Decisions About Technology)

By Shubhdeep Singh, Senior Accountant | Technology

Access a wide selection of accounting software when you work with an outsourced tax and accounting department.

Picture a world where, by bringing in the experts, you not only delegate tasks but also unlock various financial tools for your business. Financial software becomes your ally and seamlessly handles everything from payroll to bookkeeping, making your business operations feel effortless!

In our previous blog post, we emphasized the importance of gearing up for a potential CRA audit with accurate record-keeping handled by specialized software. Let’s face it — software, while a powerful tool, lacks the human touch and professional knowledge needed to recognize exactly which records are necessary and how to properly present them to the CRA.

As a business owner, mastering every financial software is unrealistic and time-consuming. When outsourcing your finance department to a proficient team like SBLR, you gain access to a diverse selection of financial software that suits your business’s unique needs!

The Benefits of Financial Software Used by Your Outsourced Finance Department

Your outsourced finance department will always make sure to remain at the forefront of cloud technology to expand its clients’ business growth. The integration of cloud-based accounting software not only proves more cost-effective for your business than hiring an in-house financial advisor, but it also enhances the speed, efficiency, and accuracy of many accounting services.

Digital finance and accounting software used by your tax team can help you and your business with:

1. Lowering risks and reducing costs

Compared to traditional accounting systems such as desktop-based applications and manual data entry, cloud-based software is far more efficient and reduces the risk of errors and costs.

2. Capitalizing on task automation

This software leverages the benefits of automated tasks, making financial processes smoother and less manual, and saving you time and money.

3. Staying up-to-date with emerging technologies 

Outsourced accounting stays up-to-date with the latest software advancements to ensure optimal performance.

How We Utilize State-of-the-Art Financial Software

At SBLR, our team of bookkeepers, tax professionals, and Chartered Professional Accountants have meticulously tested and chosen accounting software and technology that works best with our clients’ unique needs.

In addition, our partnerships with software giants like Intuit QuickBooks, Dext, and Wagepoint enable us to deliver top-tier technology solutions to our clients. These platforms are packed with data protection features like encryption, two-step authentication, and read-only connection. Plus, our cloud technology keeps you in the loop, allowing access to your files anytime, anywhere.

Our full-service team is dedicated to providing a customized plan for making informed and calculated business decisions with our advanced financial tech solutions.

Our services include:

  • Recording of expenses
  • Bank reconciliations
  • Recording of sales invoices
  • CRA accounts reconciliations
  • Payroll set-up
  • Bookkeeping training
  • Customized tech stack (databases, front-end and back-end tools, etc.)

Whether you’re at the helm of a booming startup, overseeing a mid-sized corporation, or managing an international enterprise, trusting an outsourced finance department means you get a team of specialized experts productively managing your business’s daily accounting needs. Plus, you’ll get access to state-of-the-art, cloud technology, freeing you up to concentrate on your core strength: growing your business.

Ready to have the best tax professionals manage your business finances? Call us at 416-646-0550 or request a consultation.

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