Charles Darwin is not a name on the tip of everyone’s tongue when it comes to talking about accounting, cloud technology and outsourcing.
The theory was outlined in Darwin’s seminal work On the Origin of Species, published in 1859.
It encompassed the theory of “Survival of the fittest” referring to the process of natural selection.
His theory was “It is not the strongest of the species that survives, nor the most intelligent; it is the one most adaptable to change.”
So it has proved and not just in the case of humanity. It can be applied beyond the natural world and to the world of business. The marketplace changes and firms offering clients in 2021 what they wanted five years ago, cannot compete against firms offering clients what they want right now.
Firms need to adapt to the changing marketplace, which demands efficiency, speed, and tech-savvy.
Technology evolves and if firms are not fit and agile and responsive to change, they fall behind, they risk going to the wall. Adapting to cloud-based technology is a case in point and that is where major players like GI Outsourcing come into their own.
Many other outsourcing companies are lagging, slow at adapting and still implementing old systems which are slower and more costly.
This is where the survival of the fittest analogy applies, not just to companies, but to outsourcing firms as well. If they are not nimble enough to adapt to the latest web technology, both they and their clients are likely to suffer.
The transition becomes more critical, for example, as firms have to transition to HMRC’s Making Tax Digital (MTD).
MTD involves getting small businesses and the self-employed to complete digital tax records and returns, with the eventual aim of going completely paperless.
HMRC already introduced the personal tax account in 2015, which is a digital tax account that aims to make it easier for people to manage their tax affairs.
Then came the first phase of MTD in 2019 – Making Tax Digital for VAT. This involves keeping digital records and using accounting software to complete VAT tax returns.
This is where our strength lies. Our experienced solutions architects work with businesses across various sectors and are certified implementers of 50-plus cloud applications, having completed over 500 implementations.
Our expertise and talent can help firms evolve from basic paper-based accounting via the likes of Excel through to cloud integration, offering strategic support where firms expand and outgrow systems. From inception through to completion we offer a comprehensive cloud-based service.
We work with the senior team within firms that are either behind or wish to enhance their clients’ journey through the cloud. In the majority of cases this entails us segmenting their internal client list, understanding their clients’ processes, and advising them on which cloud accounting software would suit them.
Once identified, we would then assist with the migration from old to new software and provide training and ongoing support for the application in use. This can be as a strategic partner or even as a white label service whichever preferable.
The white label service provides your firm with a variety of solutions, which can be rebranded by your accountancy practice and offered to your clients as a seamless extension of your own services – without your clients ever knowing that the service is not provided by your own in-house team.
We also have experience of working with partners on their internal systems. We have implemented various finance solutions for accounting firms taking everything from reporting, billing, and workflow management to the highest possible levels of automation.
Again, if required we facilitate the migration from old to new software, training for the practice and providing ongoing support for the application in use.
At GI Outsourcing, our aim is to make life as simple as possible and increase your firm’s bottom line. On average, we save clients between 30 per cent and 50 per cent in costs, compared to carrying out the work in-house.
Our teams have experience of working with 65-plus accounting firms offering us implementation projects. We acted as an extension to their team and provided consultancy services, mid-market solutions and industry add ons to their end client.
We offer complimentary scoping calls with SMEs followed by a no obligation recommendation of a suite of apps to help perform key tasks.
We are also strategic implementation partners for various software vendors coming to us for support with implementation and configurations.
In addition, we have worked with several firms who wished to appear experts with certain applications, but did not necessarily have the necessary expertise. As a result, we can also act as their support desk.
Our success speaks for itself. We have doubled our business in just six months. Darwin was right, and to mangle his quote somewhat, ‘the fittest will survive and inherit the world of the cloud.’
Our UK-based account managers can assist you in creating a bespoke outsourcing solution to support your firm in achieving its commercial goals. For an initial discussion, contact us today.