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A popular way for employers to reduce their paperwork and

What Do Businesses Gain from Outsourcing?

• Saves money – 26%
• Allows us to concentrate on strategy – 23%
• Improves compliance – 22%
• Improves accuracy – 18%
• We lack experience in house – 18%
• Allows us to take advantage of technology advances – 18%
• Offers services we otherwise could not – 17%
• Allows us to focus on core business – 15%

- Society of Human Resource Management, 2003 survey

compliance headaches is to outsource business functions such as bookkeeping and accounting. In fact, 58 percent of American businesses now outsource some of their functions, according to a survey done by the Society of Human Resources Management. Among the reasons: It cuts costs and reduces potential errors, and provides expertise the company does not have.

The survey found that among the functions being outsourced:

• Retirement planning
• Payroll
• Bookkeeping
• Accounting

Companies save money by not having to employ staff members with the experience and education required to handle all of these complex business needs. Employers are also concerned about accuracy and complying with changing laws and regulations.

Mistakes cost time and money and can result in penalties from the IRS and Department of Labor, as well as other federal and state agencies. With the myriad of red tape that most employers have to deal with, it's not surprising they turn to professionals who specialize in these matters.

Contact your DMLO professional about outsourcing bookkeeping, accounting, payroll and other business functions. You can gain a competitive advantage by turning over these time-consuming tasks to our professionals and concentrating on growing your business.

 
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