5 Common Questions about Outsourced Cashiering
When we are out meeting solicitors, explaining what it is that we do, and how we do it, they are often surprised at just how simple it really is to outsource your cashiering. We thought it would be worthwhile explaining some of our standard responses!
- Do we need new ‘IT’, or learn how to use a new ‘system’?
We do not have a ‘system’ or software that we use, we simply access the accounts part of your existing Practice Management System remotely. So, all you need is a legal practice management system of some sort, and a means of us accessing it remotely. We also have a secure client portal which all of our clients are on, creating a secure environment for both The Cashroom and client to communicate without the cyber risks of email. This also avoids having to protect sensitive data via email. Training can also be given to ensure you are comfortable when using the portal. - Will we get a different person each time we contact you?
We allocate each client to a cashiering team, headed up by a very experienced senior cashier, essentially your ‘Head Cashier’. They will have a small team of people who will work with your firm, in order that holidays, sickness cover etc, are not a problem for you. You will get to know the two or three people working with your firm very quickly, and build a relationship with them. You can pick up the phone or send a query via our secure client portal to these selected people at any point and be ensured that someone will always be about to help. - Is it impossible to bring the service back in-house in the future?
We do not require you to use any new software/system, we are accessing your existing system remotely. Therefore, if at any point you wanted to bring the service back in-house, it would be as simple as recruiting a cashier, changing the username/password for our login to your system and online banking, and then our access would be terminated. - Is there a loss of control involved?
Some feel that by having ‘their cashiers’ offsite, they will somehow lose some of the control over what is going on. Clients tell us time and time again that they actually have a better understanding of what is going on by dealing with our cashiers. Before outsourcing, the cashier at their firm often controlled things, choosing what they wanted to disclose to the Partners. By outsourcing, it puts control back in the hands of the Partners of the firm, rather than the cashier, allowing the Partners to make the decisions and be more involved in what is going on in the firm! - Does it really save us money?
We can offer a saving of around 20-30% on the salary costs of inhouse cashiering staff. This will vary from firm to firm, depending to a large extent on how well they pay their staff, but in some cases the saving can be as much as 50%. There are additional savings, such as National Insurance and Pension contributions, the cost of additional office space which can be used by fee earning staff instead, the savings on recruitment / training of new staff, the management time of a Partner in dealing with appraisals, performance issues etc, as well as the cover for holidays/sickness.
If you are thinking about outsourcing your cashiering / accounts department, but have any questions, please feel free to get in touch.
Scotland – gregor.angus@thecashroom.co.uk / 07875 598 593
England & Wales – alex.holt@thecashroom.co.uk / 07817 420 466
