Do you know which of your favorite brands outsource production, accounting, or even operations? Do you care?

The new economy brings opportunities for those who can provide necessary services quickly, and at the best price no matter how the product and services are delivered.

Take one of the auto industry’s most iconic brands for instance. Most people who purchase a BMW have no idea their vehicle is not likely built by the company that claims to provide “the ultimate driving machine.” Much of BMW’s manufacturing is actually done by Magna Steyr, a contract manufacturer that builds cars for several automakers, including Mercedes-Benz and General Motors.

According to Motor Authority Magazine, BMW’s X3 Model was its most reliable car in 2008. Magna Steyr built 100 percent of these BMW X3s since 2003. For those familiar with the auto industry, that isn’t surprising. But it might surprise many of BMWs end consumers.

Today nearly all carmakers outsource a significant portion of their manufacturing. Today’s vehicles are among the most reliable vehicles ever built. Automakers focus on their core competencies and leave the rest to others. They believe that designing, marketing, and selling vehicles should be their focus.

Now consider the Apple, the world’s most admired brand. Does it make products? No, it doesn’t. And while it saves money outsourcing, Apple states that the main reason for outsourcing isn’t cost, but speed and flexibility. So why does Apple outsource? Their core competency is innovation and marketing, not manufacturing. And does it affect your impression of Apple? My bet is that it does not.

So what is key to your multifamily operations success? More and more multifamily operators are realizing that paying bills, reconciling bank accounts, and dealing with HR issues, and preparing month-end financial reports, are not core to their business success. They realize that land acquisition and property acquisition, hands-on management, and innovative marketing are the most critical activities they can do.

That’s why Units Magazine last March reported, “apartments owners and management companies are seeing a trend in outsourcing their accounting and back-office functions.”

They also reported that they “expect more than 20 percent [of multifamily operations] to adopt outsourced accounting in the next few years.” And also that outsourced accounting is “a way to have more flexibility and save money too…” Just like with Apple… “it’s all about speed and execution, so outsourcing it to one firm could make more sense.”

If you find yourself dreading the time you have to spend managing your back office staff making excuses why the reports aren’t right, or maybe a little late, or handling HR issues-then outsourced accounting might be a solution for you.

One of our Texas-based multifamily clients with more than 5,000 units said, “we freed ourselves from many of the day-to-day employee issues. I will never go back to having my own accounting staff again.”

Our clients have also saved hundreds of thousands, if not millions, using outsourced accounting and our payroll services. Click the link below to read some of the case studies or testimonials from our clients. We also created a white paper entitled “Is Outsourced Accounting Right For You?” You can also click the link below for the free download of this white paper.

We’d love to learn of your situation and see if outsourced accounting is right for you. Give me a call at 702-467-0789 or email me, I welcome the discussion.