With finance teams under pressure to do more with less, controllers are focused on finding different ways to get accounting work done. In a recent Controllers Council webinar, a panel of finance leaders from Medline, The Sights Group, 2Go Advisory, and Scrubbed shared practical ways controllers can use outsourced accounting as a strategic option to fill skill gaps, boost efficiency, and allow your team more time to spend on high-value work.
Controllers Can’t-and Shouldn’t-Do It All
The scope and complexity of finance and accounting operations have grown, and talent shortages aren’t ending anytime soon. Outsourcing allows controllers to take a more responsive approach and ensure that finance and accountancy functions are in a stronger position to support growth and deliver value.
Who Benefits?
Tina Tan, partner at The Sights Group, noted that startups and small businesses often lack the resources for full-time staff. “Outsourcing lowers costs [and] provides access to specialized expertise and offers flexibility to scale,” she said.
It’s not just smaller companies that benefit, MJ explained. “Mid-size and multinational companies benefit as well, especially when they operate in multiple geographies and need round-the-clock support or want to consolidate back office operations for efficiency.”
It also depends on the industry. MJ noted that industries with high transaction volumes, complex reporting needs, or seasonal spikes in workload also benefit from outsourcing. “But,” he added, “Any company that values flexibility, access to talent, and cost efficiency can find outsourcing to be a smart solution.
When and Why to Use Outsourcing
While outsourcing is sometimes used to cover short-term gaps, all the panelists emphasized that the most successful organizations treat outsourcing as a long-term, strategic partnership.
“While in-house teams are great for strategic and core functions, outsourcing can really help with efficiency and cost management, especially for non-core tasks like bookkeeping or financial reporting,” advised MJ.
Tina shared a real-world example: “When I was part of a finance team, we outsourced our AP and AR because we were expanding into multiple states. We also faced complexities and challenges with the different state tax regulations, so we outsourced that to a service provider. We also struggled with the long financial close cycles, causing delays for reporting and decision-making,” she explained. “By outsourcing these three functions, we were able to streamline invoice processing, improve our flow visibility, and enhance vendor relationships. We were able to ensure accuracy in reporting state by state and avoid penalties. We were able to free internal teams and focus just on scaling our operations. And with the financial close and reporting, we were able to finally close some of the years that were behind and reduce our close time from weeks to days.”
Brenna agreed. “We should really be thinking about outsourcing and offshoring as part of the core strategy of the company and how we want to organize our finance operations,” she said.
Matching Expertise to Function-Not Job Title
Finding the right talent is at the top of the mind of controllers everywhere, but it’s rare to find one person who excels at everything from accounts payable to financial modeling to tax compliance. Brenna questioned the value of even trying to do that. “There are some areas of accounting, for example, derivatives and hedge accounting, that are very technical aspects of accounting. Is it worth it to recruit and retain people who are experts in this area? That probably doesn’t make a lot of sense unless you are in the business of doing this as a company, and it’s a core part of what you do.”
MJ added, “Outsourcing allows companies to quickly scale their operations without the need for long-term commitment to new hires. So, it’s particularly useful when you need specialized skills or when there’s a fluctuation in workload, like during peak periods or special projects. Outsourcing can really help with efficiency and cost management, especially for non-core tasks like bookkeeping or financial reporting.”
Outsourcing is a practical way to make sure the right specialist handles every accounting need. Not only do you get the peace of mind of knowing the work is being managed effectively, you improve efficiency, reduce costs, and allow your internal team to focus on what matters most for your business.
The Real ROI of Outsourcing
While cost savings are often a primary motivation for outsourcing, the panelists encouraged controllers to look at the broader benefits that outsourcing brings to your business-such as time, flexibility, and access to specialized expertise.
As MJ emphasized, “It’s not just about cost savings; it’s about building a high-performing extension of your in-house finance and accounting team that helps you scale and stay focused on your core business.”
Rodelyn Lumbao, Controller at 2Go Advisory, shared the practical benefits of outsourcing repetitive or transactional tasks beyond simply having the work completed. “What I liked about outsourcing is that once an outsourced team learns the task, if there’s a change in the person doing the job, they can train each other. So, it saves me time and money compared with training somebody new if we hire somebody internally.”
While some controllers may hesitate at the thought of less direct oversight, potential communication gaps, and security issues, these risks can be overcome with rigorous oversight and clear communication. Outsourcing then becomes a strategic approach that aligns with your financial goals and allows your business to adapt quickly, manage complexity, and drive real value.
Looking Ahead: Trends and Takeaways
The panelists all agreed that several key trends are shaping how businesses like yours will leverage outsourcing and offshoring in the years ahead:
- Greater Use of Automation and AI: “We’re seeing a big push towards automation and AI, especially in accounting where tasks like data entry or forecasting are becoming more streamlined,” said MJ.
- Hybrid Models: Companies are increasingly adopting hybrid approaches that include offshore, nearshore, and outsourced teams, which allow you to tailor the structure to different time zones, niche requirements for tax compliance or financial analysis, and your business’s unique needs.
- Long-term Strategic Partnerships: The panel emphasized a shift from short-term fixes to building strong, ongoing relationships with outsourcing providers. “Companies should be thinking about who they want to be with respect to the changing dynamics in finance and accounting,” said Brenna. “How we use outsourced providers and offshore captive teams, or some combination thereof can play a critical role in the company’s strategy, helping you get operating leverage and efficiencies and helping you deliver to your internal and external customers in a better, more scalable way.”
Bottom Line: Outsourced Accounting Isn't All or Nothing
Outsourcing doesn’t have to be an all-or-nothing decision. You can outsource specialized or transactional work to access expertise and scale efficiently while maintaining internal control and strategic oversight. This approach helps ensure you bring the right mix of resources to the right business problem. With a thoughtful approach, outsourced accounting is a powerful lever to help your business stay nimble, manage talent shortages, and deliver more value.
If you missed the webinar, you can take a listen here.
Ready to move forward with outsourcing? Contact Scrubbed to learn how outsourced finance and accounting services can help you plan, manage, and scale with confidence.
Frequently Asked Questions (FAQ)
Outsourcing can help your business reduce costs, access specialized expertise, and scale operations quickly without long-term commitments to new hires. It’s especially useful when you need specialized skills or when workloads fluctuate during peak periods or special projects.
The right outsourced professionals become a high-performing extension of your in-house team, allowing your people to spend more time focusing on strategic and core functions.
While outsourcing offers flexibility and cost efficiency, it can also mean less direct oversight. Communication can sometimes be more difficult, especially if your outsourced team is in a different time zone or has different working hours, which may affect how quickly issues are resolved or information is shared. There may also be a risk of becoming dependent on an external provider, which can be problematic if their service falls short or disruptions occur.
In contrast, internal teams provide deeper business knowledge and more seamless communication, but it is more costly, harder to scale, and requires ongoing recruitment and training.
Because of these trade-offs, many companies find that a hybrid model works best by keeping strategic finance roles in-house while outsourcing transactional tasks like payroll and compliance.
Outsourcing involves contracting out specific tasks or functions to external service providers to reduce costs, access specialized expertise, and improve efficiency.
Offshoring refers to relocating certain business processes or functions to (usually) company employees in another country. This is typically done for cost savings and to ensure 24/7 support for the business.
Outsourcing and offshoring have pros and cons, and some companies use a combination of both, outsourcing certain specialized tasks while maintaining offshore teams for core processes. The choice depends on your company’s needs, size, and strategy.
Outsourcing and offshoring are especially relevant for fast-growing startups that need to scale their finance and accounting functions quickly and don’t have the time or resources to build an in-house team from scratch. Midsize and multinational companies also benefit, particularly when operating in multiple geographies, needing round-the-clock support, or wanting to consolidate back-office operations for efficiency.
Industries with high transaction volumes, complex reporting needs, or seasonal spikes in workload also find outsourcing valuable but any company that values flexibility, access to specialized talent, and cost efficiency can benefit.
Companies frequently outsource functions such as bookkeeping, accounts payable (AP), accounts receivable (AR), payroll processing, financial reporting, audit support, and tax compliance. Some companies have found success outsourcing specialized tasks such as XBRL tagging for SEC reporting, technical accounting projects (like derivatives and hedge accounting), audit support, and even internal controls testing.
Common reasons for choosing outsourcing or offshoring include talent shortages or turnover, the need for cost efficiency, scalability, access to specialized expertise, operational efficiency, and the desire to let internal teams focus on core business activities and strategic initiatives. It’s also increasingly common to outsource CFO-level advisory services when hiring a full-time executive isn’t practical.
Companies typically keep functions in-house that require direct communication with partners, vendors, or customers, as well as roles that demand close oversight and deep business knowledge, such as strategic finance positions.
Transactional and repetitive tasks like payroll processing, accounts payable, accounts receivable, and bookkeeping- are more likely to be outsourced. Outsourcing these functions can lower costs, provide access to specialized expertise, and offer the flexibility to scale operations quickly. Companies also outsource tasks that require niche skills or knowledge, such as technical accounting or audit support, and to streamline processes for greater operational efficiency.
Ultimately, the decision depends on your business’s size, priorities, and industry needs. Many organizations find that a hybrid approach that keeps strategic and core activities in-house while outsourcing transactional or specialized tasks strikes the right balance between control, efficiency, and scalability.
As it becomes harder to hire and retain skilled finance professionals, companies are increasingly turning to outsourcing to fill key roles. Outsourcing gives your business immediate access to specialized expertise without the time and cost of traditional recruitment. This is especially valuable for roles that are difficult to fill locally or require niche skills, such as technical accounting or compliance.
In the case of staff turnover, outsourcing providers often manage internal training and knowledge transfer, reducing the time and cost your business would otherwise spend onboarding new staff. This ensures continuity of service even when there are changes within the provider’s team
Rather than being just a temporary fix, many organizations now view outsourcing as a long-term strategy to support growth, ensure compliance, and keep their finance operations running smoothly even in a tight labor market.
Outsourcing is especially valuable for fast-growing companies that need to scale their finance and accounting functions quickly. It offers the flexibility to ramp up operations without long-term commitments to new hires, making it easier to manage fluctuations in workload or bring in specialized skills as needed.
Midsize and multinational companies also benefit from outsourcing, particularly when they operate in multiple geographies and require round-the-clock support. By outsourcing non-core tasks like bookkeeping or financial reporting, organizations can better manage costs and improve processes, freeing up internal teams to focus on more strategic priorities.
Key trends include a significant push toward automation and AI to streamline tasks like data entry and forecasting. There’s also a growing demand for specialized talent in niche areas such as tax compliance and financial analysis. Data security continues to be a top priority, with companies focusing on stronger protections for sensitive financial information.
Hybrid models are becoming more common, with businesses balancing offshore, nearshore, and onshore teams to optimize costs, improve service quality, and accommodate time zone differences.
Finally, there’s a clear shift toward long-term, strategic partnerships between companies and their outsourcing providers, moving beyond tactical cost savings to a relationship that supports business growth.
Companies are actively adjusting their outsourcing strategies in response to economic changes. For example, some automotive manufacturers are nearshoring accounting functions to Mexico to avoid high tariffs and maintain cost efficiency. Technology firms that previously outsourced financial services to Asia are now exploring domestic outsourcing to sidestep trade restrictions and keep operations running smoothly.
Many are renegotiating contracts with offshore providers to preserve cost efficiency and minimize disruption. The goal is to stay operationally resilient and flexible in uncertain economic environments.
