If you’re a dedicated professional at a staffing company you have your work cut out for you. You’re working hard to reach new clients, of course. But then you work even harder to grow your business by reaching out to new clients. You know better than anyone else that each client you work with raises new challenges of providing a talented labor force to meet client expectations.
Keeping you up at night are concerns about a tight labor pool, increased paychecks eating away at margins, city and state regulatory requirements, and managing employee churn rates. The future is filled with uncertainty, and one-way companies manage that uncertainty is to outsource that risk. That’s an opportunity for staffing companies but unfortunately, the risk becomes entirely yours.
With all these challenges, staffing organizations need fast decisions leveraging quick access to information. You need cloud accounting.
Cloud Accounting for Staffing Companies
Imagine what cloud accounting can do for you:
- Automate revenue recognition
- Accelerate project billing
- Enhanced financial reporting over complex organizational structures
- Enable amazing collaboration over your organization
- Better analysis over the entire quote-to-cash process
- As staffing companies go global, fully automate global consolidations
- Improved submission of time and expense reports
- Robust approval processes for managing workforce efforts
- Automated billing based on complex fee arrangements
… And much more.
It Starts with Time and Expenses
No matter what you do with accounting, staffing companies never lose sight of tracking time and expenses for their resources. The advances with cloud accounting mean that employees can enter time and expense information anytime, anywhere. Managers get alerts to review and approve those reports. Employees get prompt reimbursement.
For companies with proprietary systems or existing investments built around tracking time and expense, the good news is there’s no need to lose your competitive advantage. Exceptional Cloud Accounting solutions enable seamless integrations to make strong systems even stronger.