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Challenges

  • I am not receiving timely and accurate financial reports on a regular basis.

    Solution: Our bookkeeping and accounting solutions provide 24 hour turnaround times for data updates. This ensures that your financials are current so that you can confidently make accurate and informed financial decisions about your business. Research indicates that the average small to midsize company loses between $50k -$75K a year in profits simply because they are not monitoring their business and its financials closely enough. Our team of accounting professionals has extensive knowledge and expertise in accounting principles, so they understand the critical nature of accurate and timely data and the importance of adhering to established accounting procedures and reporting deadlines.

  • I spend too much time managing my company’s cash flow.

    Solution: Lag times with bookkeeping can significantly impact cash flow management and projections. Our staff of accounting professionals recognizes the fundamental importance of timely and accurate record keeping and how that impacts cash flow management. We perform regular reconciliation of bank accounts (more than once a month). In addition, we also prepare cash flow forecasts daily, weekly, monthly or as frequently as appropriate. Our team also focuses on your business’s accounts receivable collections to improve cash flow, and we can negotiate with your vendors to extend better credit terms.

  • I can’t access my accounting system from my laptop or home computer.

    Solution: Our secure web portal provides you with 24/7 access to your company’s financials and allows you to customize reports depending upon your needs. You have access to key reports whenever you need them, even while traveling. We regularly back-up all of our systems eliminating your need to manage this function, and we also manage all the system licensing.

  • I need certain key reports on a daily or weekly basis rather than waiting for month end financial reports.


    Solution: Every industry has distinctive elements that drive the business. Although businesses recognize the importance of tracking these key financial performance measures, they often lack the infrastructure and resources to support this process. Tracking these metrics is key to evaluating the health of your company. The Business InfoTech Solutions team can design customized reports based on the needs of your individual business. Our web portal allows you to view these reports and key metrics so that you can access them 24/7.

  • My business can’t afford the talent required to provide me with the information I need to run my business.


    Solution: Small to midsize companies need a bookkeeper, controller and CFO, yet they can’t afford all three. A bookkeeper can’t perform Controller or CFO functions. Hiring a Controller level employee to perform general bookkeeping functions is too expensive and an unwise use of resources. At Business InfoTech Solutions, we provide clients with a scalable solution. All of our clients are assigned a highly qualified, dedicated account representative who is knowledgeable in accounting principles and processes. Our account representatives hold a B.A. in accounting at a minimum, while many also have an MBA or are CPAs. The account representative is supported by a team of accounting professionals who are available to perform higher level functions on a part-time or short-term basis if needed. Our client’s can expect their Business InfoTech Solutions team to consist of their account representative, a team of accountants and a CPA/MBA level reviewer. You can use these resources whenever required, and you only pay for services incurred.

  • I need someone with financial expertise, but I can’t afford that position.

    Solution: We offer our clients the ability to draw upon additional Business InfoTech Solutions resources when necessary so that they do not have to hire full-time controllers or CFO’S to fulfill functions that are performed only periodically. Clients only pay for resources used, and we offer very affordable rates.

  • My CPA spends a significant amount of time correcting our books which increases costs.


    Solution: Our teams possess the accounting expertise and professional skill necessary to make difficult or urgent decisions when required and the capability to communicate complicated issues effectively. At year end, we can work directly with your CPA firm and provide them with all required documentation in an organized manner. This will assist in reducing your costs, as neither you nor your CPA will need to spend time collecting and organizing the information. CPA firms refer many of their clients to Business InfoTech Solutions because we make their job easier. We provide them with well organized, timely and accurate information and allow them online access to their clients’ records.

  • Manual data entry is inefficient and costs my company a significant amount of money.


    Solution: Our team has the expertise to automate certain functions and processes wherever possible. This helps in reducing manual data entry and the subsequent errors and costs associated with it. Automation results in increased profitability as it is more efficient than manual processes. Automating key practices also allows your staff to focus on assignments that add more value to your business. At Business InfoTech Solutions, we offer 24 hour turnaround times on most data updates. A key benefit of outsourcing key functions is that it allows for data to be entered and reviewed overnight.

  • My accounting system is inefficient.

    Solution: We have extensive experience integrating and automating applications that eliminate the need for duplicate data entry and can automate key processes for your business, saving you both time and money. We have clients across various industries, and we have over 75 employees. We are familiar with all the available, in-market tools to make systems run more efficiently. We have automated processes for many clients, helping them to reduce manual data entry by more than 50%.

  • I can’t keep up with new technologies.

    Solution: It can be difficult and expensive for small accounting departments to keep up with technology. We have invested heavily in developing advanced technologies that make business processes more efficient, technologies that our clients can access and leverage when they partner with us. By making these technologies available to all of our customers, Business InfoTech Solutions clients have experienced a significant reduction in manual data entry. More importantly, many have reported an increase in job satisfaction because leveraging the technologies frees up employee time so that they can focus on completing more critical functions.

  • I can’t afford to hire people with both accounting and technology expertise. It is too expensive.


    Solution: Small businesses lack the means to hire qualified resources and employees, in addition to purchasing the technology required to generate timely and accurate information. If they can find someone with both accounting and technology expertise, it is very costly to retain their services. Additionally, specific financial expertise and skills often are required but that expertise is only required a fraction of the time. Partnering with Business InfoTech Solutions eliminates the need for you to keep high cost employees on staff full time. On average, the cost of a full time employee’s salary, health insurance, training, recruitment costs, and payroll taxes is 50% higher than the associated cost to hire Business InfoTech Solutions.

  • I can’t hire qualified employees on a part time basis.

    Solution: In order to justify the cost of a full time employee and minimize their downtime, workers are often put in a position to fulfill accounting and bookkeeping functions for which they have no training or expertise. At Business InfoTech Solutions, our highly qualified staff of accounting professionals is available to manage or assist with these functions when your business demands them, and we can scale back these services once that period has passed. We can assist with peak periods of activity when full time staff may be required. We can also provide you with scalable Controller and CFO level expertise so that you can leverage these services when needed and pay for them only when utilized.

  • Employee turnover at my company has become a nightmare.

    Solution: When key employees leave your accounting department, historical information can be lost. Additionally, productivity in small companies that run lean can be significantly impacted by the departure of key employees. Outsourcing your bookkeeping and accounting functions to Business InfoTech Solutions provides that business continuity in your finance department by remaining a constant in your financial management processes. We have over 75 employees who we cross train to work on multiple accounts. At Business InfoTech Solutions, you will never have to worry about not having a knowledgeable person working on your account.

  • I’m concerned about the security of my data.

    Solution: At Business InfoTech Solutions, we maintain strict controls on data security. To ensure maximum security of client data, we have developed a unique proprietary system called AuthentiConnect, which employs sophisticated industry standard encryption technologies coupled with our own secure authentication system to enable safe access to your data over the Internet. Additionally, we manage recurring data backups on our systems to ensure your company’s financials will not be lost or corrupted. Our secured data center is SAS70 certified and operational uptime is 99.9%. In fact the data center utilized by Business InfoTech Solutions is also used by large companies such as Intuit, eBay and Siemens.

  • I don’t know how my business is performing compared to other similar companies in the industry.


    Solution: With multiple clients across various industries, Business InfoTech Solutions is capable of providing key insights into proposed operating standards. We have worked with enough companies to be able to develop benchmarks for certain industries- knowledge that we can share with our clients.

  • I need someone to help move my business forward.

    Solution: At Business InfoTech Solutions, we take the time to learn the nuances of your business. Our part time Controller and CFO services provide you with an analysis of your financials and the information you need to guide you in making key business decisions. We act as a business advisor to many clients in helping them to raise their company to the next level.

Last year, our CPA firm began a search for an outsourcing solution for our client’s accounting work...