There has been an increase in the use of outsourcing services in the Irish market in recent years. Outsourcing was traditionally thought of as a service predominantly used by foreign direct investment organisations. However, that is beginning to change. Many small to medium indigenous businesses are now taking advantage of the offering, experiencing cost efficiency and continuous and reliable compliance.

Outsourcing providers are built to slot seamlessly into their clients’ systems and organisation while providing a more cost effective option than hiring an in-house financial controller. An outsourcing provider’s ability to act as a virtual financial controller guarantees their client’s compliance with the updated and upcoming local regulations, that FDI clients might not be aware of and SME clients might not have the expertise to cope with.

The firm has this month been awarded the honor of becoming a Xero Gold Partner. The firm’s specialist Outsourcing team provides solutions for small and medium to corporate clients and offer Xero’s accounting software with other services such as a virtual financial controller package for Irish businesses or overseas clients who wish to establish a presence in Ireland.

Warren Keogh, Corporate Solutions Senior Manager, RSM, said “We have enjoyed working with Xero and our many clients and are delighted to reach this milestone.”

With the entrepreneurial culture in Ireland in recent years and numerous attractions to foreign direct investors, including the 12.5% corporate tax rate, the Virtual Financial Controller gap is a busy and important one. The more all-encompassing and client-friendly the service can be, the better.

Xero is accounting software with time-saving tools. Clients can log in online anytime, anywhere, across all devices and see up-to-date financials. Founded in 2006 in New Zealand, Xero is one of the fastest growing Software as a Service companies globally. Leader of the New Zealand, Australian and United Kingdom cloud accounting markets, Xero employ a world-class team of more than 1,300 people in 20 offices across the world. Forbes identified the SaaS provider as the World’s Most Innovative Growth Company in 2014 and 2015.

RSM's virtual financial controller uniquely provides a turnkey service to new, and growing, businesses seeking to meet all their compliance needs (payroll, accounting and VAT) with the minimum amount of fuss. The Outsourcing team ensure compliance and reporting needs are addressed, enabling business owners to focus on the delivery of excellent service to their clients.