Owning a successful business may be the American dream, but it’s not an easy path. Whether you’re launching a startup or managing a well-established operation, you’re responsible for everything: setting strategy, managing people, satisfying customers, and making the numbers work. The pressure is real. And while the work can be incredibly rewarding, you can’t do it alone.
That’s where the right financial partner comes in.
Why Financial Clarity Matters
A solid financial foundation isn’t just about compliance, it’s about confidence. As a business owner, you need reliable insights to make smart, timely decisions. Without that clarity, every major move whether it’s hiring, investing, or expanding feels like a gamble.
A strategic accounting partner gives you the structure, systems, and visibility you need to lead your business forward.
Outsourced Accounting: What It Means and Why It Works
Outsourcing your accounting function doesn’t mean giving up control, it means gaining capacity. Many growing businesses aren’t ready to build a full finance team in-house. That’s where outsourced accounting services shine.
You can bring in exactly the help you need, nothing more, nothing less. Whether it’s outsourced bookkeeping, payroll, financial planning, or high-level CFO support, you gain access to experienced professionals who act as an extension of your team.
Outsourced services are especially valuable during inflection points, early growth, funding rounds, M&A activity, or restructuring. These transitions require strategic financial support, and fractional services provide it without the long-term expense of hiring.
Signs You’re Ready for an Outsourced Accounting Partner
If you’re experiencing any of the following, it may be time to consider outsourcing:
- You’re spending too much time in QuickBooks and not enough time leading.
- You don’t have a clear view of cash flow or profitability.
- You’re preparing for a capital raise or need lender-ready financials.
- Your business is growing faster than your finance capabilities.
- You’re navigating new complexities like multi-state tax laws or M&A activity.
The Right Partner Makes All the Difference
Outsourcing isn’t a one-size-fits-all solution. Choosing the right accounting partner is essential. Here’s what to look for:
1. Scalability
As an entrepreneur, it’s likely that you hope to expand your business over the years to come. As you embark on that journey, it’s important you have an accounting firm that can scale alongside your business.
Accounting firms deliver the best results when they get to know the intricacies of your business over a period of multiple years. If you’re growing fast, it’s important that your accounting firm is able to evolve in line with the needs of the business. After all, the accounting needs of a business with $100 million in revenue are very different from those of a business doing $2 million in revenue.
2. Breadth of Services
As businesses scale, they quickly find they need additional accounting and finance services. Perhaps an external lender has requested audited financial statements to process a loan application. Or maybe the business is expanding into new markets and you need support navigating multi-state tax laws.
It’s unlikely a modest, local accounting firm can handle those kinds of complexities. Instead, you need an established firm that’s available to support your business throughout its lifecycle––from handling business formation to preparing for an IPO. That could mean everything from managing your accounting needs to acting as an outsourced CFO who spearheads your overall financial strategy.
3. Industry Expertise
A competent generalist accounting firm does provide a lot of value to any business. However, if you want to take your accounting and finance infrastructure to the next level, seek out a firm that specializes in your industry.
Some firms specialize in one industry, while others specialize in several industries with dedicated partners assigned to leading each industry segment. At LBMC, we have expertise in multiple industries including real estate, professional services, manufacturing, and more.
Partnering with accountants with real expertise in your industry is a huge value driver. You’ll get access to specialized knowledge and advanced strategies that drive faster growth. On top of that, specialized accounting teams share best practices that they see across other businesses in your space.
4. Custom Solutions
No two businesses have exactly the same accounting and tax needs. Avoid firms that take a cookie-cutter approach that doesn’t account for your needs, and prioritize those that design tailored accounting solutions based on the needs of your business.
The accounting services a business requires are driven by a multitude of factors. Understanding those takes time and research. A firm that prioritizes client experience will endeavor to fully understand your situation before recommending accounting solutions.
5. Commitment to Long-Term Relationships
Your accounting firm should become trusted members of your team that you interact with on a regular basis. Building these relationships takes time and commitment from both business owners and accounting firms.
The ideal long-term partner is responsive to your needs right from the outset. That means that if you have a quick question, you can pick up the phone and call the lead accountant on your business––even if you’re not currently working on an active project. The right partner ll go above and beyond to help with all accounting and financial issues.
You might find this kind of relationship at smaller, local firms but it’s unlikely they have the scale or expertise to help your business as it grows. Equally, partners at larger firms are too busy dealing with huge corporations to invest in relationships with smaller clients. The sweet spot is a mid-market firm that actively invests in building a lasting relationship with your business.
LBMC: Your Small Business Accounting Partner
Why Many Businesses Choose a Hybrid Model
For growing companies, a hybrid model combining internal staff and outsourced experts often strikes the right balance. This setup allows you to:
- Keep key functions in-house (like customer-facing billing or collections).
- Leverage outside expertise for strategic planning and compliance.
- Scale your capabilities without scaling your headcount.
It’s a flexible, efficient way to build a finance function that grows with you.
Where Technology Fits In
Outsourcing addresses staffing challenges—but automation addresses process efficiency. Financial operations platforms can streamline bookkeeping, month-end close, and financial reporting freeing up time and reducing errors.
LBMC brings both. Our team doesn’t just plug into your systems, we help optimize them. From digital accounting setup to financial analytics and reporting dashboards, we equip our clients with tools that turn data into direction.
How LBMC Helps You Grow
Our Client Advisory and Accounting Services (CAAS) team is built for businesses like yours. Whether you’re navigating rapid growth, launching a new division, or preparing for a liquidity event, we help you build the financial infrastructure and insights to support long-term success.
Here’s how we partner with our clients:
- Outsourced bookkeeping for day-to-day accuracy and efficiency
- Fractional CFO services for strategic decision support
- Financial modeling and forecasting to plan for what’s next
- KPI development and dashboarding for actionable insight
- Tax planning and compliance across jurisdictions
- Project-based engagements such as M&A support, audits, or system implementations
Our approach is flexible. We can function as your complete finance department or fill specific gaps in your internal capabilities.
Why LBMC?
You’ll find plenty of accounting firms that offer outsourced services. But here’s what sets LBMC apart:
- Relationship-driven: We’re more than service providers. We become trusted partners, invested in your business.
- Scalable: From startups to mid-market leaders, we serve businesses at every stage—with the talent and tools to support their next move.
- Innovative: We embrace technology that improves outcomes—for you and your clients.
- Proven: With over 900 professionals and a presence across Tennessee, Kentucky, North Carolina, and beyond, we’re one of the top accounting and advisory firms in the region.
It’s About More Than Just Numbers
Outsourcing your accounting isn’t just a tactical move, it’s a strategic investment. It gives you the freedom to focus on growth, the confidence to make big decisions, and the support you need to get the numbers right.
Whether you’re a small business owner wearing a dozen hats or a CEO of a fast-growing company looking to level up, the right accounting partner changes everything.
Let’s build something that lasts. Reach out to LBMC to learn how our team can support your journey—wherever you are today, and wherever you want to go next.