Failing to place your financial management in the hands of experts can have devastating consequences. Essentially, you are putting the enterprise at risk for liability issues, lawsuits, fines, or criminal charges. Enterprises have a responsibility to not only be responsible with their own money, but also the money they receive from clients and the money they pay out.
A business that continuously fails to settle payroll, misses payments on services or neglects to pay off purchase orders appears unprofessional, but may also be charged with fraud and/or other crimes under American employment law. Whether your enterprise is small or large, the best way to eliminate these risks is to ensure that you assign your finance and accounting tasks to experienced, highly-skilled accountants and managers.
At DATAMARK, we specialize in outsourcing finance and accounting services for enterprises, businesses and other large-scale entities. We have over 28 years of experience serving industries with extremely high compliance and regulatory demands, including government offices, utility offices, insurance companies, finance companies, and banks.
Free Up In-House Real Estate for Other Departments
The average enterprise takes up a significant amount of location-based real estate. In a headquarters, the enterprise must find room for front-line employees, support teams, managers, supervisors, operations support teams, C–suite executives, human resources, and much more. The need for space is high, yet in larger cities, the availability of such spaces for a reasonable price can be almost negligible.
Outsourcing Finance and Accounting services to DATAMARK can help you reduce expenditures and overhead by cutting down on the amount of in-house real estate you need. DATAMARK shifts your accounting to our offices, rather than your own, allowing you to downsize or even expand other departments as best fits your budget. This may be a critical element for newer enterprises who remain in rapid growth over the first two to five years.
Outsourcing Finance and Accounting services to DATAMARK frees up location-based real estate at your location by shifting finance and accounting tasks to DATAMARK's offices. It also reduces pressure on in-house employees, leaving them free to work on more critical and necessary tasks without worrying about balancing the books or ensuring employees get paid.
Security and Cybersecurity
If you have concerns about Outsourcing Finance and Accounting Services due to the nature of third-party task control, we would like to take a moment and reassure you that we not only invite, but encourage, your participation. DATAMARK recognizes that capital management is an extremely sensitive source of confidential information.
Dedicated account managers and/or direct access to your information through digital mailroom technology is always available. All of our digitization strategies meet or exceed government and industry demands for cyber-attack protection and intrusion prevention, while hardware and software platforms are created with multi-layered security walls to prevent breaches, undesired access, and data loss.
Outsourcing Finance and Accounting Services to DATAMARK can also help you meet compliance needs. DATAMARK has experience working with information that needs to be handled in very specific ways, such as patient records that fall under HIPAA or credit checks and screens that fall under the Federal Credit Reporting Act. Our Digital Mailroom, data capture, and data storage systems are built from the ground up with every compliance need you have factored in, with a variety of fail safes and stop gaps to prevent you from taking unnecessary risks or receiving fines.
Track Incoming and Outgoing Payments and Transactions
DATAMARK uses a combination of digital and manual data capture and collection methods when serving outsourced Finance and Accounting clients. Depending on which information we are handling, we will either file and maintain hard copies at our site, in a high-security filing system, or scan, image, capture, collect, and organize documents into an optimized digital system. The main benefit of this approach is that all records, including paper trails and digitized documents, remain in your possession for as long as you deem necessary.
Digital database access also makes it possible to track all incoming and outgoing payments, transactions, invoices, purchase orders, and inventory lists. Incredibly advanced heuristics give you, and DATAMARK, the option to search for specific information with just a few keywords, identification numbers, or other predefined filters. The ability to pull up finance and accounting information on the fly has a secondary effect on your ability to provide customer support, handle human resources queries, or even balance your budget.
Because DATAMARK's outsourced Finance and Accounting Services are agile and flexible, we can take over Accounts Payable, Accounts Receivable, and a long list of other financial transactions. Our management abilities also include industry and sector-specific tasks that other companies may be hesitant to take over. Our commitment to you is to work with you to create a system and protocol that matches your needs, no matter how complex or multilayered your business processes are.
At DATAMARK, we know rapidly-growing industries don’t always have the time to manage or handle finance and accounting tasks as they should. Whether you are still relying on traditional paper and hard-copy records or you simply want to redefine your current digital system to improve your finances, we are confident in our ability to assist.
DATAMARK’s services are flexible, agile, and suited to nearly any enterprise environment, regardless of complexity. Our focus is agile and designed to grow with you, making outsourcing options scalable in either direction as you experience normal business ebbs and flows.
We are proud to serve these exciting and impactful enterprise industries:
Does your enterprise business fall within another industry? We encourage you to reach out and discover how Outsourcing Finance and Accounting Services can help you thrive. Call DATAMARK now at 1-800.477.1944.