FAO 101: Understanding the value of finance and accounting outsourcing
Middle market companies are becoming more comfortable with outsourcing solutions, driving increased utilization of finance and accounting outsourcing (FAO). The evolution of FAO enables companies to focus on their core business, while leveraging external resources to increase finance and accounting productivity.
What makes RSM’s FAO platform different is specific industry knowledge, and unique business processes, workflows and structures that have been developed through years of successful engagements. We implement proven strategies from a people, process and technology perspective that are customized for each client and can’t be found in an out-of-the-box technology solution.
RSM’s FAO solutions can help organizations overcome virtually any finance and accounting challenge they have. For example, critical issues that outsourcing can help alleviate include hiring, training and developing staff, and producing timely and actionable financial information. FAO staff are trained professionals who can typically produce key data in a fraction of the time as internal resources, allowing clients to leverage insights for more effective decision-making.
Another key benefit of FAO is the flexibility of solutions and the scalability of resources. Hybrid models enable clients to maintain some finance and accounting functions in-house, while outsourcing others. Alternatively, some clients choose to outsource their entire finance and accounting framework. There is never one specific model that clients must leverage; instead, RSM develops FAO solutions that fit business needs and can scale as demands dictate.
View the video below to learn more about how RSM’s FAO solutions can enhance a company’s entire finance and accounting function.