Whatever “new normal” emerges from the pandemic, two things are almost certain:
- This is not the last crisis that will disrupt your firm’s operations.
- Virtual business is here to stay wherever it enhances efficiency and profitability.
GovCons with effective virtual tools already integrated into pre-pandemic operations had a jump start on adaptability when COVID-19 hit. Firms that were left scrambling got a lesson under fire on which virtual services improve flexibility and resilience.
Outsourced accounting proved to be one of those services, according to our clients. Although we at CAVU are well aware of the advantages of outsourcing, the GovCons we serve are the ones who underscored how it helped them cope with an unprecedented emergency:
“Having my accounting team outsourced already ensured we were better prepared when the pandemic hit. The transition to telework was seamless, and CAVU ensured that our financials moved on, business as usual, with no noticeable impact to operations”
– Harry Wimbish, President & CEO – ITellect, LLC
Pandemic Lessons Learned
Here’s a list of what the pandemic—and our clients—have taught us about the important ways that outsourced accounting can boost your firm’s adaptability in 2021 and beyond:
- Your outsourced accounting team already has the software and other virtual infrastructure in place for remote meetings and safe, secure transmission of vital financial records. There’s no need to task your own staff to track down and implement technology products and services in emergency mode.
- Your outsourced accountants are already experts at operating in a virtual environment. You can skip the awkward technological and logistical learning curves and stay focused on business development to navigate changes and uncertainties.
Our own clients made us aware of how important these points have been to weathering the pandemic:
“CAVU Advisors has been essential to our company since day one; our monthly meetings to plan and manage our financials have been critical to our success. When the pandemic made in-person meetings impossible, CAVU didn’t miss a beat – the team utilized their online dashboards and tools to seamlessly transition to an all-virtual format that provides the exact same valuable insight and information we need. I literally don’t know what I’d do without them (and don’t plan to find out any time soon)!”
– Roberta Massiah, President & CEO – Aurora Innovations, LLC
- You can execute your accounting needs on the fly with secure, remote access, no matter where business leaders and employees are located. Everyone can stay safe and connected.
- You’ll spend less on overhead expenses and office space. This is a benefit of outsourced accounting even during normal operations. Suppose you must temporarily vacate your premises in crisis mode. In that case, you won’t have to worry about draining resources on empty desks and chairs for an in-house accounting department until operations resume.
- You have an accounting team already up to speed on the tax and bookkeeping implications of pandemic assistance, such as the paycheck protection program loans and other relief packages that may be legislated in the future.
CAVU’s accounting and financial GovCon experts can help you build resiliency against the current crisis and future adversity. Contact us today.