How to decide if Client Accounting Services (CAS) is right for you?

There is no one-size-fits-all accounting solution. Accounting needs vary based on the business size, present requirements, and future plans. 

CAS is suitable for:

What aspects of accounting can you outsource?

1) Managing Accounts Payables and Accounting Receivables

Aligning accounts receivable (AR) and accounts payable (AP) ensures that your business receives and makes timely payments. This is an integral function of accounting that companies can outsource accounting services. Having an expert look at all the details allows for the payment process to be smooth.

CAS allows for up-to-date records to be maintained providing transparency of funds. This includes: 

• Invoice generation, expense reports 
• Order management and customer payments
• Forecasting and reporting of funds 
• Vendor queries and processing 

2) Bookkeeping

Cloud-based accounting and digitization have streamlined bookkeeping to a large extent. At Sentient, we ensure our accounting professionals are capable of handling large volumes of data. With relevant certifications and up-to-date information, your business’s accounting is in safe hands. This includes:

• Expense records and ledgers
• Currency and entity consolidation
• Latest software setup for accounting and bookkeeping 
• Subscriptions and renewal management 

3) Generating reports

All financial documents for cash inflow and outflow need expert supervision. By leveraging our Client Accounting Services, you have a reliable team of certified accountants looking into all the details. This ensures data-backed analysis and reports, which will help in developing financial strategies and budgeting services. 

4) Controller Services

The team of certified professionals at Sentient will provide a comprehensive outline of the financial health of your business. These will generate transparency offering a clear picture to all stakeholders. Additionally, our team provides support during audits by providing detailed financial reports and KPI reporting reducing overhead costs.

5) Cost Accounting

When outsourcing your accounting process to our team, we work closely with your business’s R&D and manufacturing divisions. The professionals comprehensively analyze the manufacturing and supply chain to ensure it is cost-efficient and budgeted accordingly. By doing this, the actual cost of the product (along with its manufacturing) or the service is understood and analyzed. 

6) Forensic accounting

Our teams are skilled at running through large volumes of data to identify fraudulent or inaccurate transactions. When handling sensitive, confidential data, we ensure data security through breach-proof security. 

7) Tax filing and reporting

Having a team of certified professional accountants ensures taxes are accurately filed on time. As professionals well versed in current regulations, we will ensure your tax returns and declarations are filed on time while maintaining compliance. 

8) Payroll processing

With the development in technology, we have the latest and most efficient payroll software. Leveraging accounting automation at this juncture allows for a hands-free routine that ensures error-free and efficient functioning. 

The benefits of CAS

1) Cost-effective

The cost of CAS is much less than hiring a full-time employee. Companies fail to consider the time spent in looking for professional accountants. Time equals effort and money, both of which can be now spent on mission-critical tasks. With business owners looking to cut down on labor costs, taxes, office supplies, and benefits for full-time or part-time employees. 

When companies outsource accounting services, they only pay for what is needed.

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2) Saves time

As businesses grow and expand, the management and key personnel spend time on administrative tasks such as bookkeeping and accounting. 

CAS gives time and resources back to the company bringing focus on devising business strategies. This will drive higher revenue and better relationships with customers.

3) Access to expertise

CAS allows companies to hire professionals with the specialized knowledge, certifications, and skillsets required at an affordable price. These professionals need to keep upgrading their skills and qualifications to stay competitive.

In addition, it streamlines the process as only the best and the most effective practices are employed, ensuring faster progress. 

4) Scale-up 

CAS providers are capable of scaling up the services based on need without any lag. For instance, if the tasks require more than one personnel, the service provider will provide the additional workforce. This eliminates the need for a stringent recruitment process.

With flexible charges, based on need, the hours can be scaled-up or scaled-down without interruption.

5) Automation technologies

Accounting automation software saves time, reduces risks, and minimizes human errors. Automation offers real-time reports that assist in detecting potential problems and mitigating them early. Additionally, it reduces the likelihood of in-house fraud.

As an SME trying to cut down on costs, CAS allows access to the latest technologies and processes. These simplify compliance and improve efficiency. 

Sentient Solutions for Accounting

Today’s digital landscape necessitates maintaining relevance. At Sentient Solutions, we are aware of what will have the most significant impact on the company. Our goal is to save your time, effort, and money by supplying information that drives business growth through informed decisions. 

Business intelligence drives critical decisions and is a game-changer. We level the playing field through access to competent personnel and advanced technology. 

Reach out to us to get future-ready. 

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In addition, the digital landscape has evolved considerably resulting in fierce competition and rising pressure on CPA firms. They now need to ensure consistent and quality delivery of a wide spectrum of services at reasonable rates and have flexible work schedules to meet the evolving customer demands.

Hence, the CPA firms are forced to take on additional workloads at a time when their resources are reducing. This is particularly hampering their ability to execute labor-intensive, largely manual, and time-consuming tasks such as bookkeeping, compliance, audit, and risk management are still the norm. This leads to overflowing inboxes and swamped work desks, ultimately reducing productivity and outcomes. 

Current trends indicate that outsourcing accounting services are one of the fastest-growing areas for CPA firms.

How does outsourcing offer an advantage?

1. Cost-effective expertise

Working in an increasingly “digital” ecosystem, technology allows us to automate routine tasks to greatly reduce service costs and increase accuracy. This frees up resources, allowing advisors to maximize their asset usage and help address client issues that matter the most.

Outsource Accounting Services enables frequent contact with the client, providing an opportunity to preemptively address issues before they arise. This reduces the time and cost of redressal and resolution.

2. Focus on value addition, not just accounting

Outsource accounting services help to boost efficiency, thereby allowing CPA firms to spend more time on high-value and high-fee consulting and less time on accounting and finance. Technology by itself isn’t the unique selling point. It enables value addition for the client and a chance to upgrade their existing business approach.

3. Secure bookkeeping and accounting

CPAs can work on remote access servers so that your original files do not leave your office. With data backup on multiple secure servers and disaster recovery systems, you can rest assured about the confidentiality and security of your data.

4. Real-time actionable insight

Real-time data when leveraged by technology enables interpretation of accounting, providing a much higher value to the clients than reacting to situations after they have occurred, as some outcomes are irreversible.

CPAs are thus able to identify key drivers affecting the success of the business and help in adding on to them. In addition, they also make sure that this information is cloud-based and easily accessible.

In addition, with different clients having different requirements, CPAs can produce pertinent financial information leveraging high-quality data sets, following protocol, and using accounting technology.  

5. Proactive accounting

Outsource accounting services offer access to advanced technology and technical expertise at lower costs than any traditional domestic solution. 

Outsourcing accounting services enables the CPA firms to address pain points and shift from a reactive to a proactive system, providing a chance to identify growth opportunities such as legislation changes or tax savings and take advantage of the situation. 

A change in the business model to proactive accounting would, in the long term, help clients save money, increase value, and gain credibility in the market.

6. Personalized service packages

In today’s fast-paced world, clients expect tailored solutions and services. Therefore, the CPA firms provide differentiated value by operating as business advisors, engaging in personal interactions, assessing needs, and providing services tailored to each client’s unique circumstances and needs. These include companies that are financially hands-off, those that need to supplement current resources, and some that need technology and process expertise. 

We, at Sentient Solutions for Accounting, can help you with this scalability. In addition, we can enable you to reduce costs whilst improving efficiencies, better-analyzing business operations, and adding value to your clients.

How can Sentient Solutions for Accounting help?

Sentient Solutions for Accountings is a one-stop solution when it comes to accounting and finance back-office services. Our team consists of a range of qualified and proficient Chartered Accountants (CAs) and MBAs, experienced with all major accounting systems such as Quickbooks, Netsuite, Sage, SAP, and Xero, among others. Throughout the process automation, we ensure compliance, security, and quality with a dedicated team working with you.

Our key differentiators:

1. Flexible service packaging offering greater than 40% savings

2. Overnight, timely processing of transactions

3. On-demand talent

4. Consistent quality

We partner with CPA firms to help them enhance their productivity, efficiency, and profitability. With world-class processes, a highly qualified and experienced team, and the latest in Artificial Intelligence (AI), Machine Learning in Accounting (ML), and Robotic Process Automation in accounting, we are here for you every step of the way.

Please feel free to reach out to us in case of any questions.

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