Outsourcing in Practice – Bridging the GAAP
Posted by Kate Green
If you have been keeping an eye on the market, you have probably seen the ever-growing outsourcing divisions developing across the Top 100. From a recruiter’s perspective, I have seen individuals from an accounting and business development background setting up outsourcing divisions and then looking to grow at a rapid rate. Why are accountancy practices increasingly looking to outsourcing departments? Well, it is down to the fact that organisations benefit a great deal from the use of outsourcing departments, it makes them far more efficient, supports business decisions, reduces costs and ultimately, allows them to become far more competitive. A Broader Market An outsourcing department will typically house a range of functions for their clients to utilise and can include everything from company secretarial to compliance and business advisory services to payroll. Thanks to the broad spectrum of services covered, outsourcing divisions are producing exceptional, well-rounded candidates, even in the larger, more niche organisations. Exposure to Clients Outsourcing divisions seem to be renowned for providing exposure to client management much quicker, with everyone spread across so many functions and with the extensive client interaction required. In summary, you will become well-rounded, you will better your interpersonal skills, you will learn to manage portfolios and you will be able to advise business to a much greater extent. Bridging the Gap to Industry I have heard many a story of an Outsourcing Senior or an Outsourcing Manager moving to an internal role with one of their clients – this often stems from an ‘Interim FC’ secondment offered to them or simply a great relationship built over years of service. Many of our clients in practice are aware this can happen, and that outsourcing helps candidates bridge the gap to industry, however, many divisions are now shaped to be fluid and adapt to his natural progression. Outsourcing bridges the gap to industry but not only this, as outsourcing covers the wider spectrum of services and small firms are known for creating great generalists, the big firms are looking for people with small or Mid-tier experience. It’s a huge game changer in the world of accountancy! The response to outsourcing by accountancy firms and the way the market has swung towards this service line shows what huge potential lies in this area of practice. It is a fantastic demonstration of the accountancy world taking a modern outlook in what is considered a stereotypically traditional world. Given the growth of some of the divisions we have been working with, many are already planning on succession, giving managers goals to become Partners and Seniors goals to become Managers. You may find you join a Mid-tier practice with the aims of going into industry or a Big 4 firm but then find you progress rapidly, love the environment and decide to stay put for the long run! The important thing is that you open doors in all directions. So, if you are working as an Accountant and want to fast-track your progression, open doors in all avenues and probably earn more doing so – I recommend checking out a few Outsourcing teams. For more information about this article, or to speak to Kate about your recruiting needs or Finance jobs in London or Nationwide, contact her on 02072696363 or firstname.lastname@example.org.