INSIGHT

How to choose the right outsourced accountant for your business 

Mark Leverette • February 25, 2025

Services: Outsourced Accounting

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Choosing an outsourced accountant for your business is akin to selecting a business partner. It’s a decision that requires careful consideration of chemistry, talent, and strategic alignment.  

The relationship you build with your outsourced accounting team can significantly impact your business’s financial health and growth trajectory. A misalignment in expectations, poor communication, or a lack of shared objectives can lead to inefficiencies, financial inaccuracies, and missed opportunities for growth.  

With the right outsourced accounting provider, those problems can be avoided. 

How to choose the right outsourced accounting provider  

As we dive deeper into the process of selecting the right outsourced accountant, keep in mind that this decision is not just about finding a service provider. It’s about finding a trusted advisor to work alongside you to drive your business’s financial success. 

Outsourced accounting can drastically improve your business operations, reporting, and financial strategy. To learn how, read our complete guide to outsourced accounting or contact our outsourced accounting team. 

Identify your outsourced accounting needs 

Before partnering with an outsourced accounting provider, assess your business’s specific requirements. This evaluation will help you find a partner to address your unique challenges and support your growth objectives. 

Start by examining your industry, growth stage, and internal talent.  

Different sectors have varying accounting needs, and your current development phase will influence the level of support required. 

For example, a rapidly expanding tech startup will likely need different services than an established nonprofit organization—whether that’s compliance, funding, donor reporting, audit preparation, and more.  

Next, evaluate your current financial situation and identify any bottlenecks. Ask yourself: 

• Are you regularly behind on bookkeeping or accounting tasks? 
• Do you find yourself skipping other important business activities to handle financial matters? 
• Does your team lack specialized knowledge in GAAP, audits, or forecasting? 

Consider whether process inefficiencies are holding your team back. If you’re struggling to manage accounts receivables or predict cash flow accurately, outsourcing might provide the structure and expertise you need. 

If you’re unsure about your specific needs, look for an outsourced accounting firm with a consultative approach. These providers can help you discover opportunities for growth and tailor their services to your evolving requirements. They should be able to offer strategic support and advisory services beyond day-to-day accounting tasks.  

Evaluate how they answer your top accounting questions 

The best way to get to know a potential outsourced accounting partner is through direct conversation.  

Strategic questions can help you identify the most suitable candidates for your business. Here are some questions you should ask any prospective outsourced accountant.  

1. What talent do you have on your team, and what are their credentials? 

Inquire about the size of their team, certifications, licenses, education, and range of experience they hold. Do they have an advanced degree? A certification in your key need area? What types of businesses have they successfully supported in the past?  

You’ll also want to know how big the team is, which members will handle your account, and why you’ll work with those professionals—you want to ensure they are thinking through the best resources to help you.  

This information will give you insight into the depth and breadth of expertise available to support your business. 

2. What’s your experience in my industry? 

Every industry has different considerations, strategic opportunities, regulatory bodies, audit requirements, and more. Due to these intricacies—and the grave consequences of doing something incorrectly—you want to work with an outsourced accounting firm with experience in your field.  

For example, where a technology company may need to deal with complex revenue models and R&D expenses, a nonprofit would need to focus on compliant funding sources and maintaining its tax-exempt status.  

Getting a sense of their industry experience will give you more confidence in their ability to handle your unique needs.  

3. What technology systems, software, and automation services do you offer? 

One of the main benefits of working with an outsourced accounting team is access to specialized accounting software that might otherwise be out of reach.  

Ask your prospective outsourced accounting partner about their tech stack and software use and why they select the vendors they do. This will give you insight into the additional benefits of working with that team.  

BPM, for example, uses best-in-class accounting software like QuickBooks, Sage Intacct, and NetSuite (among others) to bring more quality and control to your accounting function.  

While you’re talking tech, be sure to ask about their experience in process, workflow, and automation enhancements, as this strategic addition can enhance daily financial operations.  

4. What’s your communication style and reporting process? 

Clear communication is crucial for a successful partnership with your outsourced accounting team. Ask about their preferred communication methods (email, phone, video, etc.), frequency of updates, and typical turnaround times for requests. 

Find out if they offer remote, on-site, or hybrid services to ensure their approach aligns with your needs. If you have global operations, inquire about their experience collaborating with international teams and handling different time zones. 

Don’t forget to ask about their reporting process – what types of reports do they provide, how often, and in what format? Understanding their communication and reporting style will help you gauge how well they’ll integrate with your existing processes. 

5. How do you ensure compliance and financial accuracy? 

Financial accuracy and regulatory compliance are non-negotiable, especially if you’re in a highly regulated industry or planning to go public. Ask about their quality control processes, internal review procedures, and how they stay updated on changing regulations. 

Inquire about their experience with industry-specific compliance requirements and any specialized software or tools they use to maintain accuracy. A reputable outsourced accounting firm should be able to explain its multi-layer review process and how it handles potential discrepancies. 

6. How can you help us scale? 

As your business grows, your accounting needs will evolve. Ask potential providers about their experience supporting businesses through various growth stages, including opening new divisions, navigating mergers & acquisitions, or going public. 

Inquire about their ability to handle increased transaction volumes, more complex reporting requirements, and additional services you might need. A forward-thinking outsourced accounting partner should be able to provide examples of how they’ve helped other clients scale successfully. 

7. How do you measure success? 

Success means different things to different businesses, so it’s crucial to ensure your outsourced accounting partner’s metrics align with your goals. Ask about their key performance indicators (KPIs) and how they track them. 

Discuss how they measure their own performance and what benchmarks they use. A good partner should be able to explain how their success metrics contribute to your business’s financial health and growth objectives. 

8. How will we work with you? 

Understanding the nuts and bolts of your working relationship is crucial.  

Ask about their onboarding process – how long does it typically take, and what’s involved? Inquire about their approach to relationship management and how they handle any potential conflicts of interest. 

Get details on the next steps if you decide to move forward. What documentation will they need? What are the typical timelines for getting started? This information will give you a clear picture of what to expect and help you prepare for a smooth transition. 

By asking these targeted questions, you’ll gain valuable insights into each potential outsourced accounting provider’s capabilities, experience, and approach. This information will help you make an informed decision that aligns with your business needs and sets the stage for a successful partnership. 

Research their past work 

This aspect is so crucial it deserves its own section.  

Start by thoroughly reviewing the provider’s case studies, paying particular attention to those in your industry, or addressing challenges similar to yours. These case studies should offer detailed insights into how the accounting team approached specific problems, implemented solutions, and delivered measurable results. 

Don’t hesitate to ask for permission to speak directly with their past or current clients. This firsthand information can be invaluable. When interviewing these references, ask about: 

• The quality and timeliness of the accounting services provided 
• How well the outsourced team integrated with their existing processes 
• Any unexpected challenges that arose and how they were handled 
• The impact of the outsourced accounting services on their business outcomes 

All of this intel will give you more confidence that the team can successfully support you.  

Ensure the accounting team is a good culture fit 

Finding an outsourced accounting team that aligns with your company culture is crucial for a successful long-term partnership. Think about the traits important to you in a partner – open-mindedness, curiosity, accomplishment, and others that resonate with your business values. 

Consider these aspects when evaluating cultural fit: 

• Communication style: Do they match your preferred method and frequency of communication? 
• Problem-solving approach: Are they proactive and innovative in finding solutions? 
• Adaptability: Can they flex their processes to align with your business needs? 
• Values alignment: Do their core values complement yours? 

Looking for specific traits can help ensure you’re like-minded and will have a productive relationship. For instance, if your company values innovation, look for an accounting team that embraces new technologies and continuously improves its processes. 

Don’t underestimate the importance of cultural alignment, especially in a remote working environment. A good cultural fit can lead to better collaboration, improved communication, and, ultimately, better results for your business. 

Remember, the goal is to find an outsourced accounting team that has the technical skills and feels like a natural extension of your in-house team. This alignment can make a significant difference in the success of your outsourced accounting partnership. 

Common mistakes businesses make when choosing an outsourced accounting provider 

When selecting an outsourced accounting partner, businesses often make several critical errors. Here are some common pitfalls to avoid: 

Underestimating data security and compliance 

Many companies overlook the importance of robust data security measures and compliance with relevant regulations. This oversight can potentially expose businesses to data breaches or legal issues. Implementing strong data security protocols and regularly updating them is crucial when working with an outsourced accounting provider. 

Focusing solely on cost 

Selecting the most cost-effective option without considering quality and value can result in costly errors and inefficiencies in the long run. While cost savings are important, it’s essential to balance them with factors like expertise, reputation, and service quality. 

Not preparing your internal team 

Failing to communicate with your internal team and set collaboration expectations could result in missing information, errors, and clunky processes. Clear communication channels and regular check-ins are essential for a successful outsourcing relationship. 

By avoiding these common mistakes, businesses can establish a more effective and beneficial partnership with their outsourced accounting provider. 

Find the right outsourced accounting provider with BPM 

Choosing the right outsourced accounting partner is a critical decision that can significantly impact your business’s financial health and growth trajectory.  

BPM’s outsourced accounting team offers more than just bookkeeping services. As a trusted accounting partner, BPM works closely with businesses across various industries to provide tailored solutions that address unique challenges and opportunities.  

With expertise in tax, assurance, and financial support services, we leverage best-in-class, cloud-based accounting platforms to empower your financial management functions. 

Ready to take the next step in optimizing your financial operations? Contact BPM today to explore how our outsourced accounting services can benefit your business.