Accounting & Finance
Outsourcing, Accounting and Finance
Outsourcing Your Internal Accounting and Financial Management
To manage an organization effectively, senior executives and boards of directors must receive timely and accurate financial information. Traditionally, internal accounting and finance departments have provided this data. Increasingly, however, organizations recognize that outsourcing some or all of this responsibility permits a more efficient cost solution and might result in enhanced quality of service by relying on professionals whose sole responsibility is to ensure that quality.
A traditional internal accounting/finance department involves not only hard costs such as salaries and benefits, but also requires costs for office space, hardware, software, training and other forms of overhead expenses. In addition, organizations expend significant costs in managing such an internal department.
The preparation and maintenance of accurate and meaningful financial data should be a hassle-free support function that provides executives and the board of directors with useful and timely information. Veris provides this and more.
Veris has the capacity to handle many, if not all, of your financial management/accounting needs. We will evaluate the costs and benefits of outsourcing these needs for your organization. As part of that evaluation, we will analyze your current accounting and financial reporting operations and identify the potential for cost-effective outsourcing alternatives.
We can provide full or partial outsourcing; we can provide both in-house and off-site services; and we can provide temporary services and/or resources that might, from time to time, be needed. Our professionals have extensive experience in serving a diverse array of organizations that vary in size, nature and complexity.
The hiring and maintenance of qualified internal accounting resources involves continually increasing costs as well as long-term uncertainties. By outsourcing to Veris, our clients are relieved of the burdensome responsibility of hiring and supervising these internal resources, and are assured of the long-term stability of those specialized resources.
Our clients only pay for the direct time incurred on their behalf. We absorb all non- production time such as sick and vacation leave, as well as training.
As a multi-faceted outsourcing firm, we offer a full scope of customized services to meet your needs:
- Annual statement preparation
- Investment reporting and reconciliations
- Preparation of tax returns and annual reports, such as personal property and sales & use
- Reconciliation of accounts, including preparation of bank reconciliations
- Preparation of financial analyses, including charts and graphs
- Preparation of financial statements
- Cash receipts processing and receivables management including invoicing
- Payroll processing
- Cash disbursement processing and payables management
- Meeting and conference registration processing
- Monthly review of financial position with CEO
- Review and management of banking and investment relationships and services
- Cash management
- Establishment and documentation of policies and procedures
- Preparation of budgets and management of the budget cycle
- Presentations to board of directors and other governing bodies
- Due diligence for mergers and acquisitions
- Investment policy implementation and review
- RFP preparation & selection of financial service providers
- Financial projections
- Lease vs. buy analysis