Why Outsourcing can be a Game Changer for Telecom Companies Amidst COVID

As the telecom industry continues to navigate the demands of the COVID-19 pandemic, outsourcing has become an important tool used by companies across the country to keep their businesses on track.

Recent federal legislation has provided new opportunities to gain access to additional funding, while demand for essential services continues to increase. Keeping track of the opportunities (and complexities) around Paycheck Protection Program (PPP) funding, retroactive Employee Retention Credits (ERC) and more can become overwhelming for accounting teams already burdened with additional work. With a ton of variables at play, errors can be extra costly.

Here are a few specific benefits outsourcing can provide:

PPP Expertise & Guidance. Outsourcing complex work to trusted experts well versed in PPP funding can be a game changer. Firms that have a dedicated team focused on understanding the nuances of PPP funding and the credits available can provide tremendous value to your business.

PPP experts can help determine whether your company qualifies for various COVID funding and tax credits offered through new legislation. In addition, PPP experts can help streamline the application and forgiveness process, ensuring your business avoids any costly compliance errors. Pair that up with expertise around the telecom space, and you’ll likely see new opportunities you may not have known were available to your business.

Personalized Support When You Need It Most. Telecommunication companies are deemed essential and demand for your services has likely grown exponentially during this time. Has this placed an extra burden or and additional stress on your internal accounting staff?

Outsourcing your accounting duties can alleviate deadline and compliance stress; but it can also serve as a timely tool to keep the daily work moving. The best part? Outsourcing can be tailored to fit your unique business needs. Whether you’re in need of daily, monthly, or annual support on a temporary or semi-permanent basis, outsourcing can provide much needed relief to help your team meet immediate deadlines or address long-term growth.

Interested in Learning More?

Maner Costerisan is here to help. Our telecommunication expert team dedicates its efforts to understanding the industry and the “unique” accounting that comes with it. We can help you make the most PPP funding, ERC, and other tax credits.