Whether you need an accountant or expense reduction consultant depends entirely upon what your business aims to accomplish. While both specialize in dealing with numbers and math, the roles are actually quite different.
Maybe you need someone to handle your day-to-day expenses. Maybe you need someone to create a strategic plan with recommendations on what you could do with your money. There is someone for everyone and we are going to break down the difference between an accountant and a consultant:
Accountant:
Accountants are usually who comes to mind when people need help managing money. An accountant’s primary function is to prepare and examine financial records for either organizations or individuals.
They have a heavy focus on taxes and regulatory requirements. They’re typically looking in the past, combing through historical data and delivering reports after the end of a financial period.
Accountants tend to remain slightly removed from a company’s success or failure – and receive compensation no matter the outcome.
Consultant:
Consultants tend to have a background in finance as well as experience in the business or corporate world. This experience helps them develop complex strategies aimed to improve a company’s financial wellbeing. They too work with historical data, using it to establish baseline metrics for future benchmarking.
Consultants specialized in expense reduction will often review both client and vendor data. They will maintain communication with vendors in order to negotiate on behalf of a client, and to ensure smooth implementation and follow-through on cost saving efforts.
Even though a consultant is not an employee, he or she approaches their task as an insider with a personal stake in the success of their strategies. Unlike accountants, good expense reduction consultants will not receive compensation unless savings are realized.
Which One Do You Need?
If you are looking to find areas where you can save money, reduce overspending and increase your bottom line, then experienced expense reduction consultant such as Silverback are the ones for you.
Our process is simple: we thoroughly investigate and analyze a company’s operating expenses in non-labor areas. We make strategic cost reduction recommendations based on our findings and market knowledge, and will also help implement the approved efforts to ensure our clients realize significant savings.
With no out-of-pocket fees for our services, working with Silverback is risk free. Contact us today to find out how we can help your company start saving.
