Outsourcing Has Become an Important Aspect of the Private Equity Industry
It’s becoming increasingly difficult for private equity firms to increase productivity and to hire accountants with the needed experience and/or skill set. This has caused companies to look at different options to combat the scarcity of finance & accounting talent. Download our infographic on adding efficiency to your private equity firm.
How Private Equity Firms Can Add Efficiency & Productivity Without Adding To Headcount
Increasing efficiencies in portfolio company operations is nothing new, but it's certainly taken on a new sense of urgency. One way to create efficiency? Outsourcing to streamline accounting processes within portfolio companies.
Why Increasing Staff Numbers Doesn't Increase Productivity
Back office operations provide the most opportunity for cost reduction and improved performance. Often, PE firms see the following in their portfolio companies:
Slow month-end closings
Poorly documented processes
Too much time spent on menial tasks
Driving Innovation Depends on Frictionless Back Office Performance
For private equity funds that need to streamline these processes as nimbly and quickly as possible, business process outsourcing (BPO) is a powerful tool.
Update or streamline out-of-date technology
Build an offshore team for all accounting tasks
Provide actionable reports that you might be missing
There's a Better Way to Scale Back Office in Private Equity Portfolios
Skilled talent that can scale rapidly and deliver returns in the form of both efficiency and cost savings is the answer. Look for a BPO that can:
Come to the table with boutique offerings
Source and train skilled FTEs that follow GAAP
Value and retain top cybersecurity
How PE firms add efficiency without adding to headcount, here.
Learn more about our BPO solutions.