How do small businesses survive in the world today, especially when they are primarily government contractors? The government has such a twisted path of regulations concerning contractors and then they control the amount of fee or profit that the small business can earn. There is definately a cost in doing business with the government that many businesses don't realize when starting. One of the constants we have noticed over the years is that experience in government contracting makes a difference. Small businesses usually can't afford to hire someone with experience on their staff but they can hire a consultant and outsource this experience level on an "as needed" basis. We have found that fully outsourcing back office services such as bookkeeping, accounting, payroll, contract management and even HR or purchasing can be valuable to the small business. This allows those services to be performed by "experts" in the area and allows the members of the small business to focus on the tasks that they are experts at - thereby increasing their value to the bottom line. A web hosted accounting system is a great tool for this scenario because both the outsourced consultant as well as company management can access the financial records at any time. The following video outlines some of the benefits of such a web hosted solution, just imagine the cloud shared application is your accounting system!
In government contracting there are many risks of not being compliant with either your accounting system or your contract. Sometimes companies are not aware of the risk they are running until an audit or a contract close out occurs and then the problem can be too large for the small business to survive. Prevent that from happening by hiring a knowledgeable consultant to:
- Maintain and verify your compliance on a daily basis
- Free up your valuable time to contribute to the bottom line
- Perform routine and mundane tasks but in fully compliant terms
- Provide real time management reports and documents on a cloud based solution
- Help direct your business to the most profitable path
At Tech BizSolutions, we have the experience and we are the experts in these back office services.