Accounting Co-Sourcing Services Transform Operations During Staffing Crisis
When a global consumer electronics manufacturer lost critical accounting staff to retirement and turnover, they faced missed tax deadlines, audit risks, and operational paralysis. Traditional hiring couldn’t move fast enough. Temporary staffing couldn’t provide strategic transformation.
They needed accounting co-sourcing services that could stabilize operations immediately while building long-term capacity. Here’s how Wiss transformed their greatest vulnerability into a competitive strength.
THE CHALLENGE
The Staffing Crisis That Threatened Compliance
Multiple Departures, Zero Transition Time
This manufacturer—producing timepieces, calculators, musical instruments, and projectors for global markets—faced simultaneous retirements across their accounting department. Essential positions sat empty during peak audit season. Tax filing deadlines approached with no qualified staff to execute them.
The risk extended beyond immediate compliance. Decades of institutional knowledge about their Oracle ERP system, vendor relationships, and accounting processes would disappear with departing employees.
When Traditional Solutions Fall Short
Hiring timelines didn’t match business reality:
- Open positions required 60-90 days to fill
- Onboarding added another 30-45 days
- ERP system mastery took months more
Temporary staffing created different problems:
- No strategic process improvement
- Limited ERP system expertise
- No long-term operational transformation
- Knowledge gaps remained after contracts ended
The company needed accounting co-sourcing services—a hybrid approach that provided immediate operational support with strategic optimization capabilities.
THE APPROACH
Strategic Co-Sourcing Implementation
Phase 1: Emergency Stabilization (Days 1-30)
Wiss embedded our accounting team directly into their operations on day one. Our immediate priorities:
Knowledge capture before departure:
- Documented critical Oracle ERP workflows
- Recorded vendor payment procedures
- Mapped month-end close processes
- Preserved tax filing methodologies
Operational continuity:
- Maintained audit schedules without delays
- Processed vendor payments on time
- Executed payroll without interruption
- Filed tax returns meeting all deadlines
Phase 2: Process Optimization (Months 2-4)
Once operations stabilized, our accounting co-sourcing services focused on transformation:
Workflow analysis identified hidden inefficiencies:
- Manual data entry consumed 15 hours weekly
- Spreadsheet reconciliations created error risks
- Duplicate approval processes delayed closes
- Paper-based filing systems slowed retrieval
Automation implementation delivered immediate ROI:
- Automated vendor invoice processing
- Streamlined month-end close procedures
- Implemented digital approval workflows
- Created automated reporting dashboards
Business impact: The accounting team redirected 40% of their time from manual tasks to financial analysis and strategic planning.
THE IMPACT
Measurable Business Results
Operational Excellence Under Pressure
Compliance maintained throughout transition:
- 100% on-time tax filing rate
- Zero audit findings or compliance issues
- Uninterrupted financial reporting
- No vendor payment delays
Cost efficiency through co-sourcing:
- Avoided emergency hiring premium costs
- Eliminated temporary staffing expenses
- Reduced overtime for remaining staff
- Optimized full-time headcount requirements
Scalable team capacity:
- Flex up during month-end close
- Scale down during slower periods
- Access specialized expertise as needed
- No fixed overhead for variable workload
Strategic Advantages Beyond Crisis Management
This manufacturer discovered accounting co-sourcing services deliver value that extends far beyond emergency response:
Continuous process improvement: Our team identifies optimization opportunities traditional staff might miss due to “we’ve always done it this way” thinking.
Technology leverage: Access to accounting automation tools and ERP expertise without individual software investments.
Institutional knowledge protection: Documentation and cross-training eliminate single points of failure when staff transitions occur.
Future-ready finance function: The accounting department now operates as a strategic business partner, not just a compliance function.
Ready to transform your accounting operations? Contact us to learn how Wiss’ co-sourcing services can help your business thrive.
