Benefits of Outsourcing Bookkeeping Services
When Axe Networking Corp was sued for breach of contract, the result was so financially damaging that the owners had to seek refuge under chapter 11 and subsequently had to restructure their company. During the restructuring process, they took a close look at staff that were really necessary and work that could be outsourced and got done cheaply. During the pre-chapter 11 days, despite extensive automation, they had eight people working in their accounting section. Half of these were simply recording daily expenses and keeping track of costing and inventory. “Bookkeeping” or more commonly known as accounting is one of the easiest jobs for outsourcing. The CEO Alex, of Alex Networking Corp (as it was renamed post chapter 11), began researching the possibility of outsourcing bookkeeping. Anything to reduce cost. With the intention of outsourcing the bookkeeping section, Alex began communicating with several Asian based companies that provided virtual staffing services and