The digital age brought new technologies that have reshaped the way people do business and unknown risks and challenges. Yet, regardless of the disruption, it has become essential to embrace change and digital transformation to cope with the evolving business landscape and meet market demands. Domenic Carosa and Dan Schatt, co-founders of Earnity, know all too well about change.
The emotional intelligence of experienced financial professionals, combined with the appropriate technologies, will shape the future of finance. So, integrating the right software and tools into business processes encourages informed decision-making, improves efficiency, and increases productivity.
Unfortunately, advanced technologies are costly, and not all businesses, particularly startups, can afford them. However, outsourcing is a solution that enables companies to take advantage of cutting-edge finance and accounting software and tools.
Why is Outsourcing Finance and Accounting the Future?
Traditional financial and accounting processes are also becoming increasingly obsolete. Therefore, finance leaders who continue to use slow, outdated systems that are clumsy and prone to human error are putting their organizations at risk.
CFOs and financial executives like Dan Schatt and Domenic Carosa understand that their reputations depend on their ability to plan and implement the strategies that will propel the company to success, prioritizing high-value work. They should be in charge of driving innovation and planning for the future. They can no longer afford to be hindered by financial reporting and other activities that divert their attention away from client relations, strategy implementation, business intelligence, wealth management, and other value-creating activities.
Outsourcing is the future of finance because it helps reduce operating costs while gaining the support of top finance talent and the experience of skilled accounting professionals. You can also take advantage of their cutting-edge digital finance tools, such as the Earnity platform. In addition, outsourcing your accounting to a financial service provider does not imply that you will lose control of your department. When done correctly, outsourcing means gaining a strategic partner who complements your existing finance team and fills operational gaps. You benefit from their team’s skills, competencies, and advanced technologies, most likely cloud-based. As a result, there is more scalability and flexibility in the business.