Outsourcing accounting: advantages of outsourcing accounting to an external trustee
Proper accounting is essential for a start-up or an SME, companies are therefore faced with the decision to keep their accounting in-house or outsource it. For many startups and small business owners, keeping their accounting in-house is a big cost driver that has nothing to do with their core business and also ties up resources unnecessarily. So what are the exact benefits of outsourcing accounting to an external accounting firm?
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Book a callHighlights
- Companies save costs as there are no salary, recruitment, or software expenses
- The trustee takes over liability , reducing risks for the company
- Experienced experts minimize errors by staying up to date
- Companies focus on their core business , while the trustee handles accounting
- Trustees provide strategic advice based on business analysis
Advantages of outsourcing accounting
1. Cost reduction personnel
Since no one has to be hired for the accounting, you save on salary costs on the one hand, and on the other hand there are no costs for sick leave or vacation. Also personnel recruitment and training costs are completely eliminated. In addition, the effective costs for a workplace are often estimated far too low, since factors such as office rent, cleaning costs, electricity, IT costs per employee, etc. are not included. Another advantage is that the service contract with the trustee, unlike the employment contract of an employee, can be terminated without any labor law problems arising.
2. Cost reduction software
Purchase and monthly license fees for software are expensive. The purchase of a financial and payroll program, the maintenance as well as the training of the users is reflected in the books. The clear advantage of working with a trustee is that due to the large number of clients, they only have to bear a fraction of these costs.
3. Liability transfer
The great advantage of outsourcing your accounting is that you transfer the liability to your trustee. In this way, you are not liable for possible errors in your accounting, thus reducing your risk.
4. Minimization of errors
Complying with legal requirements and maintaining an accounting system is complex. This increases the probability of committing errors, which can bring some risks for a company. Fiduciaries employ specialized staff who are highly experienced, continuously educated and always up to date. In addition, fiduciary employees gain unique know-how by working with a large number of different clients, which significantly reduces the risk of errors.
5. Focus on core business
By outsourcing the accounting, they can fully focus on their core business and the trustee takes care of the time-consuming rest. You can then leave the process optimization and implementation of the latest developments in the accounting area to your trustee, whose core business this is.
6. Strategic consulting
Your fiduciary knows all your figures and can therefore get a comprehensive picture of your company. In addition, he is a specialist who brings experience in a wide range of business areas due to the large number of mandates he has from various industries. Therefore, fiduciary services often go hand in hand with business analysis and consulting and can thus represent a real added value for a company.
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Book a callOutsource your bookkeeping with our accounting service
At Nexova AG, we know how important it is for our clients to benefit from outsourcing their bookkeeping.
That’s why we ensure the process is smooth, reliable and cost-efficient!
Our team will take care of all your receipts and keep your bookkeeping up to date every month. All you have to do is upload your receipts, and we will handle the rest!
With our digitalised company structure and automated processing, you can be sure that the work is done competently, professionally and punctually.
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Jan LichtenbergCEO, InSphero AGAs an internationally active biotechnology company that stands for innovation and the highest quality, we work exclusively with partners who meet our high standards. Nexova consistently impresses us with exceptional service quality, robust processes, and an impressive pace. The professional, solution-oriented, and efficient collaboration allows us to fully focus on our core business. Additionally, we would like to highlight the remarkable cost savings of 35% compared to in-house accounting. We particularly appreciate how Nexova quickly understands, develops, and promptly implements complex requirements – both within Switzerland and at our international subsidiaries. We can wholeheartedly recommend the Nexova team.
Pascal Willoughby-PetitCEO, TheLearning LAB GmbHNexova AG offers highly professional accounting services that have significantly enhanced our financial management at Learning Lab. Their team is precise and reactive, always delivering accurate and timely reports while promptly addressing our queries. With Nexova AG’s support, we manage our clients’ accounts and finances more efficiently. We highly recommend Nexova AG for their exceptional accounting services.
Marco BurgerCEO, Le Café Bar GmbHFor us as a new catering company, it is essential that our trustee understands our specific needs and responds flexibly to our requirements. In Nexova AG, we have found the ideal partner who supports us competently in all fiduciary matters and actively promotes our growth.
Jörg BuckmannManaging Director, BUCKMANN GEWINNT+Uncomplicated or serious? Or is it and? A young, clever team is at work here, offering excellent services, highly uncomplicated and competent. Instead of a prestigious reception, expensive offices and chocolates, there are fast services and competent services. For me as a one-man company, this is exactly what I need.
Florian JauchCo-Founder, Arvy AGArvy AG has found an exceptional partner in Nexova AG. Their very high level of expertise in FINMA-regulated industries ensures that our financial transactions are in safe and competent hands. What sets Nexova apart is their flat-rate pricing structure, which has helped us greatly with budgeting and financial planning. As a company committed to long-term success and integrity in investments, we are very satisfied with the services provided by Nexova AG.
Patrick RissiCo-Founder, Brainiegroup GmbHFor us as an EdTech startup, it is very important that our trustee is as digital and agile as we are. With Nexova AG, we have found the perfect partner who can actively support us in our growth.
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Uncomplicated or serious? Both here. A young, smart team is at work here, offering excellent services, highly uncomplicated and competent. Instead of a prestigious reception area, expensive offices and a few small gifts, you offer fast and competent services. For me as a one-man company, this is exactly what I need.
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I have been a Nexova customer for some time now and so far I am very satisfied! Thanks to the digital working methods and high responsiveness of the client managers, little time is lost in the daily process in particular. The prices are also very fair. Nexova handles the annual financial statements for me, including the tax balance sheet. The processes are standardized, which is a great advantage for audits (AHV and taxes). The two founders are two young, innovative guys and very serious.
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When I founded my company a year ago, I needed a reliable fiduciary partner. In addition to pure accounting, Nexova also offers me very good advice on all aspects of labor law. Thanks to the E-Post solution, I no longer even have to worry about my company mail and can focus purely on my service activities. My contacts at Nexova are always very friendly and pleasant to deal with. The complete package is simply TOP and I can only recommend Nexova!
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- Alan SchuetzFebruary 8, 2023
The Nexova Team is an important partner to our startup, enabling us to pass all of our accounting, tax and payroll duties. We specially value their expertise with Startups and flexibility, which allows us to plan and manage our financials effectively and to focus on the bottom line of our operations.
- Raphael H.April 7, 2023
We are very satisfied with Nexova as our trustee. Thanks to the Teams group chat, I can always count on very fast response times (of a few minutes). The Teams Chat group is great. With our old trustee, we had to write mails and always had to wait a long time for an answer and on top of that we were charged for every little question. Fortunately, this is not the case with Nexova.
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