Since the Internet has made the business climate more competitive, the digital age is forcing companies to look at new ways of business.
Accounting is one area where corporate funds can be better utilized in more strategic areas.
But until recently, companies have been leery of handing over their purse strings. Today companies are becoming more comfortable with financial outsourcing because they have experienced great success in outsourcing less sensitive areas like IT, human resources and facilities management, notes Brian T. Regan, principal of LOR Management Services LLC in Los Angeles, California. Until competitive pressures changed minds more easily, Regan says outsourcers had to overcome the fear of sending mission critical information outside the office.