Importance of SOPs (Standard Operating Procedures) For Remote Staffing Accounting Firms
Standard Operating Procedures makes business operations highly effective and smooth. Especially, for remote accounting companies, this procedure is very important and helpful in proper management and control of the tasks. Read our blog for more information
SOPs – “Written procedure prescribed for repetitive use as a practice, in accordance with agreed-upon specifications aimed at obtaining the desired outcome.” – BusinessDictionary
Standard operating procedures stand for written documents explaining the execution of business operations. It is recommended that standard operating procedures should be written in a clear, simple, step by step along with proper flowcharts so that the relationship between different activities and departments or interdepartmental relationships can be explained in the right manner. For better implementation and consistency, It is essential to review the business policies and organizational structure before defining the procedure.
SOP for Remote Staffing solutions in the accounting industry
For CPA firms, one of the most rewarded benefits of technological advancement such as cloud computing, cloud accounting, could document management and processing, etc. is remote staffing solutions. Because of many advantages such as; saving in work execution cost, flexible hiring, release from human resource management tasks, etc., more and more CPA firms are tending towards remote staffing solutions.
Before delegating the accounting work to remote staffing solutions providing companies like CapActix it is essential to discuss SOPs for the various operations such as accounting documents sharing and processing, reporting, legal boundaries, confidentiality agreements, etc. In some cases, it is also important to define the policies of Bank Reconciliation, credit cards or wire transfers, etc., before working with a remote team.
Importance of SOPs for Remote Accounting Firms
With SOPs, accounting companies can draw procedures of operation from training to various communication with the remote staffing firms so that both sides stay fully organized, operate easily and ensure that assigned tasks can be timely completed without any confusion and misunderstanding.
We have noted that after working with various CPA and accounting firms – every company has some sort of SOP that they follow unconditionally, but most of the companies don’t draw written SOPs before working with remote staffing solutions providing companies.
It is very essential to draw well structured written SOPs for accounting firms, especially those who are planning to enjoy remote staffing solutions. That’s because standard operating procedures will define the minute details and responsibilities, moreover, it can further serve as legal evidence in the eyes of the law. It is always recommended to draw SOPs when a CPA firm and remote staffing company are collaborating. This small practice can benefit both sides in numerous ways such as;
With the help of standard operating procedures, staffing firms can set the training and certification guidelines for their employees as per the requirements of accounting firms which saves them from training their every new employee. On the other hand, if accounting firms share their SOPs with remote staffing firms, then they can ensure that the company is going to train their employees in the same manner as they're in house staff is working. This will bring uniformity and saves time for the accounting companies.
Every CPA firm works very hard to establish and maintain its brand in the market as they have to maintain their identity in the highly competitive work environment. With SOPs, CPA firms can maintain the same authentic feel, personality, and tone of their brand even when serving clients with remote staffing solutions. Your brand will remain consistent in spite of the location boundary via well-structured branding standards. Clients of CPA firms are placing trust in the CPA firm’s procedures irrespective of the location of their staff. SOPs will cover a few important branding points –
With perfectly formulated SOPs in the advance, remote accounting companies can smoothly run the day to day operations and ensures that all employees can understand the process, policies, procedures, and deliverables related to their tasks. This makes remotely working staffs completely clear about their job role and expectations by the clients and helps them to provide their 100%. Thus, it will eventually improve the quality of work.
With the accounting work, lots of legal requirements are attached as the financial matters are involved. Thus, by drawing the SOPs, both remote staffing firms and CPA firms can protect their employees and clients and make sure that they determine any legal responsibility in case of a mishap. Every business organization needs to safeguard its employee's interests and the company’s reputation at any cost.
Remote accounting companies need to establish a proper chain of command structure where everyone in the company has a clear idea about the company’s structure and procedures. This way accounting firms know who is in charge and whom they contact in case of an occurrence of a particular event. For accounting firms where the work flows from multiple offices and departments, it is very important for them to design a well defined SOPs to establish proper organizational structure.
Sometimes remote accounting companies have to deliver work at very short notice and if any of their employees fall sick or won’t able to work due to any personal emergency, then it becomes very difficult for companies to meet the deadlines. But, with SOPs, when all the work delegation duties are predefined, then employees will automatically know the procedures to follow when one of the employees isn’t able to work. This will make the work delegation process simpler.
SOPs is one of the very important business requirement that every accounting business organization should follow today to make their business operations smooth. The companies that deal with the remote staffing for CPA firms can attain numerous benefits from the standard operating procedures - from making their business operations error-free to increasing the productivity level.
At CapActix, we firmly believe in the proper construction of written standard operating procedures. Moreover, we always recommend our clients to follow the same and make sure our employees adhere to the same. If you want to know more about standard operating procedures for remote staffing solutions, then mail us on firstname.lastname@example.org or call us on (201) 778-0509.
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ABOUT THE AUTHOR
Aniket is working in CapActix Business Solutions – An Accounting Outsourcing Company – as a manager. He is an expert in tax preparations.