Even though there are around 1.27 million accountants in the U.S., it’s common for individuals—and even large firms—to get overwhelmed with work. This is one of the reasons businesses, regardless of size, consider white-label accounting services. Read on to learn what a white-label accounting firm can do for you, as well as the benefits of white-label accounting.
What Are White-Label Accounting Services?
White-label accounting services involve an experienced accounting service provider managing accounting for another company or individual. The company the services of the white-label accounting service provider as its own, and the work is performed by the white-label accounting firm.
White-label accounting solutions are a lot like other white-label offerings, from IT services to prepackaged food. So, for example, if you feel there’s a market for barbecue sauce in your area but don’t have the time or resources to make it yourself, you can hire a company to make the sweet, savory sauce for you. You put your brand’s name on it, and you’re in the market.
Similarly, with white-label accounting services, if you offer accounting services, but your workload has gotten to be too much to handle, you can hire white-label service providers. You could also use white-label accounting solutions even if you don’t already have an established accounting firm.
Benefits of White-Label Accounting Services
White-label bookkeeping services benefit your business in a variety of ways, including:
Freeing you up to take on more clients
Enabling you to expand the services you offer
If you’re constantly buried under piles of work, feel like you’re being spread too thin, or simply want to give yourself more time, a white-label accounting firm may be a good strategic partner. You can take on the work you have time to handle and allow your white-label accounting service provider to do the rest. You could even choose to work part-time without sacrificing the health of your business.
Maintain Clients—Even While Busy
As more clients, responsibilities, and life in general start to consume your time, it may be tempting to offload some to free up some bandwidth. However, if you use white-label accounting services, you can keep all your clients without sacrificing the quality of the services you provide. You can pick and choose which clients to work with personally and which to outsource to your white-label accounting solution.
For example, suppose you’ve had a steady stream of repeat clients over the last few years and business has been going well. You suddenly learn you and your spouse are expecting a baby, and you know you’re not going to have as much time as before. If you engage the services of a white-label accounting firm, you can maintain your current load of clients and still have enough time to change diapers and get some quality cuddle time in with your new best friend.
Free Yourself Up to Take on More Clients
Many accountants and accounting companies have a successful business model but lack the funds or resources to scale up. With white-label services, you can add more clients and focus on growing your business instead. You can choose whether you want to send new or existing clients to your white-label service and continue to send more and more as your business grows.
Expand the Services You Offer
While a certain kind of accounting may be your bread and butter, you may not feel as confident in other areas. For example, perhaps you have a small accounting firm and you have mainly served individuals for several years, but you see the potential in expanding so you can serve more business clients.
White-label accounting solutions can enable you to add small-to-medium-sized businesses—or even large firms—to your portfolio without hiring more staff.
How PABS White-Label Accounting Services Can Help
PABS provides white-label back-office services for Certified Public Accountants (CPAs), accountants, bookkeepers, and tax professionals. There’s no reason to give up clients, hold back on scaling up your business, or limit the services you offer when there’s an affordable, accessible solution. Connect with PABS today to learn more.