Navigating the Outsourcing Decision
Trying to decide what the right approach to managing your business operations is? Here are a few resources to help you determine what’s right for your church or nonprofit.
“I’ll just do the bookkeeping myself.” or “We have a volunteer who does our bookkeeping.” These are often the solutions new church plants and young nonprofits choose because they seem more economical. But the cost of managing the bookkeeping on your own goes beyond money. Consider The True Cost of In-House Bookkeeping through this article by Two Roads Co.
If you’re weighing the option of outsourcing, you should also check out CapinCrouse’s Facebook Live seminar this Thursday, Aug 6 on Navigating the Outsourcing Decision – 5 Benefits of Outsourcing Accounting & Finance Services. New shortcasts in CapinCrouse’s “Insights” for Church Leaders series stream live on Thursdays at 12 p.m. ET. To watch, visit the CapinCrouse Facebook page.
And lastly, one benefit of outsourcing is gaining access to a spectrum of business operations expertise. Bookkeeping is an absolutely essential service needed by churches and nonprofits alike. But often overlooked is the value of CFO advisory services, or what Auxilio describes as being your business partner. Here’s what we mean. A good business partner or CFO Advisor will:
-
Assess and shape the effectiveness and efficiency of your operations
-
Maintain compliance with laws and regulations
-
Develop systems, processes and policies
-
Provide proactive advice, reliable financial reporting and complex financial projections to aid in decision-making
Statistics show that this kind of proactive planning, projecting, measuring and tracking financial and operational progress can help grow an organization by 23% (source: Gusto Next seminar, 7/30/20). Especially in economically uncertain times such as a global pandemic, high level advisory services can help your church or nonprofit navigate survival and even maintain financial health. Auxilio provides this as part of our base service. We are passionate about serving the Church. We’d welcome the chance to serve your church or nonprofit. Contact us at hello@auxilio.partners to learn more.