January is a time many business owners evaluate their business plans and set new goals for their companies. While you are making your list of New Year’s resolutions, we have a few suggestions.
Add an OSI Virtual Accounting Department to Your Team
There has been a breathtaking amount of development in the field of information technology over the last decade or so. New technologies have opened possibilities for business operations that would have been impossible in previous generations.
The combination of widespread fast internet connections and effectively unbreakable encryption has made is possible to outsource critical functions such as accounting services. OSI has built a business around the idea of creating virtual accounting departments for our clients. Your organization has full access to all your financial data as easily or even more easily than if you had internal accountants. Authorized individuals in your company have access to comprehensive financial information, allowing them to make plans using your organization’s latest figures. No more will your executives have to make critical decisions using outdated information.
Plan for the Future
With the easy access to up-to-date information you get from an OSI virtual accounting department, top level managers can plan for the future with more confidence. However the data is only useful to your organization if you use it.
Using our virtual accounting department you can easily generate comprehensive financial reports every quarter, every month, even every day if you really want to. Rather than simply filing these reports away, take time to examine them carefully. These analyses do more than show where your company is right now. They illustrate important trends within your company. By comparing these trends to competitors and the economy in general, you get a good idea of where your organization is headed.
If you find revenues dropping or expenses climbing, deal with these issues before they become serious. Early detection and resolution keeps small downturns from becoming major catastrophes. Look for positive trends as well so you can take advantage of them and improve your business’s success.
Improve Your Record Keeping
An OSI virtual accounting department provides your company with skilled, professional accounting services but for the partnership to work, we have to get the best information possible from your organization.
We update your information daily and we strongly encourage our clients to submit receipts equally often. We streamline the process as much as possible so you can easily send us information every day. This makes it easier for our staff to keep your books up to date and you will have access to current financial information.
If you have taken the opportunity to categorize receipts before we receive them, we can generate more accurate reports for your organization. This also ensures you get every deduction and credit when we file your tax returns.
Get this year off to a great start by adding an OSI virtual accounting department to your team.
