Top frequently asked questions about online business bookkeeping services and business process outsourcing:
1) Will I lose control of my business bookkeeping by outsourcing?
It's quite the opposite. You'll have more control, transparency, access and internal controls than you've ever had with your business. Everyone works from the same systems therefore, outsourcing your books and back office is more like insourcing than outsourcing. invizibiz is like getting an overnight business infrastructure. You don't have to figure it out because we've already figured it out.
2) Are you replacing my current CPA?
Our virtual bookkeeping doesn't replace your CPA, but the short answer is it depends. We believe in great relationships, therefore if you already have a great working relationship with your CPA, we think you should keep that valuable relationship. We are CPA's and we would compliment your CPA allowing them to focus on valuable advice while we take care of your back office. In some cases, it makes sense to replace your CPA because we provide a full service new model monthly subscription and your CPA may become a duplication of services. You may also be fed up with your CPA and ready for the peace of mind you get with invizibiz.
3) Can other people including my CPA access our data?
Absolutely. Our value proposition is all about access and internal controls. Your CPA can access your accounting records, your employs can access your virtual mailbox, bill payment system or online banking and a subcontractor can access a specific online platform without knowing the login credentials. All of your company's stakeholders can have access on a temporary basis or permanent role based access. You also have to power to revoke access with a single click.
4) Why is online accounting a much better value for the money?
We are entrepreneurs, business advisors and multidisciplinary experts who cut the fat out of accounting, bookkeeping and back office admin. We leverage technology to create a paperless battle-tested business process. Most owners don't understand the true cost of managing the machinery of the business back office. Studies have shown the cost of issuing a paper check can be $25 or more. Paper and inefficient processes add unnecessary cost to your business.
5) How much does your business process outsourcing cost and how do you charge?
Our service costs less than you’re spending right now any way you calculate it. This includes all the hidden costs weighing down your business. In the words of T. Harv Eker, “How you do anything is how you do everything,” so unless you already know how to run your business like invizibiz then you’re spending way too much. We have several service packages to fit your business' needs and budget. Our outSouce it (You do it for me), coSource it (We do it together) or iSource it (I do it myself) products covers the entire spectrum. Prices range from $97 per month up to $997 month, however other services have higher prices points. Please visit invizibiz.biz to learn more.
6) How do I decide what software to use and what software do you support?
You don't have to decide what software to use. Our service is like an off-shelf business back office. We're business architects who can supply what you need without you having to figure it out. If you're already using an accounting system like Quickbooks Online, Xero or Freshbooks then we will continue to use it until it doesn't make sense. If your business has specialized needs, then we can make a recommendation to solve the requirement in alignment with your existing systems. We have dozens of best of class technology partners including the accounting systems mentioned above, bill.com Docusign, Last Pass and many more. Our accounting partner affiliations often provide special pricing not available to standard customers.
7) What is the benefit of having my business data accessible online?
A business that doesn't provide data and systems access to employees and stakeholders who need it at a moment's notice is wasting an incredible amount of resources. A 5-minute task could turn into a one-hour exercise when Party A has to ask Party B & Party C where a file is. Both Party B and Party C have to stop what they're doing and respond without providing any value. Three people wasted their time in this scenario which inspired the creation of invizibiz.biz in the first place.
8) Who controls cash, pay bills and makes decisions?
It's a team effort, however you and your business get to say how much control you need. Our bill.com technology partner is set up for bill payment approvers before payments are issued. The password management system is designed to control access to all the technology and banking platforms. Business owner's always have administrative rights, the highest level, at all times with full access and control.
9) Is all my data secure?
We have multiple strategic technology partners who have reputation risk at stake. They can't afford a breakdown because a competitor would quickly take their customers away. It's in their best interest to secure their customers data with best practices. All of our partners are cloud-based services and each one has its own security methodology. We require our clients to use Last Pass password management system with 2FA to secure various back office platforms. Security risk can never be reduced to zero, however these methods reduce that risk as much as possible. This is also covered in our blog as the #1 “should ask question” since most firms would be scared to get asked what password management system they use.
10) Do you prepare small business taxes?
We provide the original free tax return guarantee with all of our subscription packages. Clients don't want to sign up for virtual bookkeeping only to find out they still need tax services for another fee. Federal and one state return prep is included. We call it the free guarantee because we're so confident in the value of our services. Your books are always "tax ready." We also charge for tax services for clients who are not part of our subscription service. I challenge you to find a service that includes tax preparation with the subscription fee.
11) Why does your service cost more than your competitors?
Our service costs more because we provide more services and more value. The value of the service is so much higher than the monthly subscription fee resulting in a higher value to price ratio than any of our competitors. Our intention is to deliver ten times the value with all our information products and services. Comparing services among competitors is not an easy task in this arena. We provide a complete overnight business back office where the accounting system is just one of many systems. In the words of Stephen Covey, "You can't pick up one end of the stick without picking up the other end of the stick." Therefore, we couldn't just provide bookkeeping because every system is connected to and impacts every other system in business.