Co-Sourcing has become more evident over the last few years in the business world, yet many people are still left wondering what it is and how can co-sourcing help?
Well, we’re here to explain more!
Co-Sourcing is the blending of a business’s internal resources with external experts working together to create one team achieving the same goal. It combines all of the benefits of outsourcing with maintaining control of the approach and results. In essence, co-sourcing allows companies to tap into a talent pool of specially sourced individuals who are able to offer the skills, attitude and commitment that a business owner would require for their company.
The benefits of co-sourcing
There are many benefits when people choose to co-source, right from the very start. Firstly, there’s no need to concern yourself with issues such as advertising job positions. Part of the tedious pain that business owners experience when looking for new staff is getting their company in front of the right people. What if you could bypass all of this? When you use Totus Finances’ services, our talent acquisition specialists who have many years of experience in sourcing talent will be able to provide you with a variety of staffing options based on your needs. You can be as involved or removed from the process as you’d like- once the potential candidates are lined up and ready for you to speak with, you’ll be invited to participate in the interview process so that you can choose a team member that you think will be a great fit!
Work from anywhere
Whether you have an office or choose to work remotely, co-sourced staff can do just this. You’ll be able to have frequent contact with them and speak to them the same as you would to any other team member, train them and integrate staff into work culture. However, some concerns may follow this- with many business owners worried that they can’t keep a direct eye on their staff, but that isn’t an issue when you co-source with Totus Finance. Your staff will have an office space in our offices, and a person to oversee work and arrange cover for different scenarios such as sick leave. 30% of people in the UK now work remotely, and it’s no wonder with benefits such as saving money on the cost of office space, transport, and with there being the ability to work more flexibly. If you’re choosing to opt for this, your one step away from making your practice more efficient. Why not co-source instead and be sure that your staff are keeping up to date with tasks.
Cover for your staff
It’s inevitable that at some point through your process of hiring staff, you’ll hit the point that your staff will have to take time off due to a variety of reasons such as sickness, personal circumstances, or maternity leave. You’re then stuck with the issue of covering those staff members, which can be time-consuming and frustrating for business owners, especially in the accounting sector with a busy workload. When you co-source with Totus Finance, you won’t have to worry about finding staff cover as this is all done for you. If your staff are off for any reason, we will find a temporary cover saving you the hassle of looking into the matter.
Increase productivity and reduce cost
Accountants should consider co-sourcing because it will help them increase productivity. By outsourcing certain tasks—whether it be bookkeeping, payroll or general admin—you can focus on other areas of your business that need attention. This allows
Make your business run more efficiently and allows for a better customer journey. If you find that your list of tasks is forever growing, or that you’re struggling to take on new clients, it’s probably time to expand your team and add more staff which as a result, will enable your practice to become more productive. Quality is always the top priority for business owners of course, but you’ll also get the chance to get all these benefits at a reduced price making your accounting firm more profitable.
Expands the talent in your team
Co-sourcing is also great for expanding your talent pool, allowing you to find people with skills like yours who may not be available locally or even nationally. It allows you to work with people from different cultures and backgrounds who have different perspectives on things than you do—and that’s always a good thing!
Our staff and offices are based in Macedonia, which is a prime location being only a 3-hour flight away from London. Therefore, you’re able to visit your staff should you wish to. The level of English in Macedonia is impeccable, so there are no concerns when it comes to the standard of communication that you’ll receive. If you want to learn more about our staff, you can visit our about page or book a call with us today.
Why is co-sourcing the way forward for Accountants?
There are of course many benefits when co-sourcing, but what are the benefits of specifically co-sourcing in the accounting sector? Let’s take a look!
If you’re an accountant you already know that your day is full of tasks that are time-consuming, some of which you have to complete but they take you away from the true business of accounting. Think about the tasks that can be offloaded to others- bookkeeping and payroll are prime examples here. What if you could hire staff with flexi hours in order to take care of these mundane tasks?
Well, now you can with Totus Finance. We provide top-quality candidates for accountants, meaning that you can integrate our Xero-qualified staff within your work culture, and offload those bookkeeping and payroll tasks with ease. Our staff are also well adapting- meaning that they can use any software that you do in your establishment, taking away the stress of worrying about your staff being comfortable with using your current system.
We’re seeing more and more companies turning to co-sourcing because it allows them to cut costs while expanding their talent base—and that’s a win-win situation for everyone involved!
