Boston Finex Group Carves a Niche with Affordable Outsourced Accounting and Finance Services for Cash-Conscious Businesses

Locally -based account management plus low-cost, offshore back-office work proves a winning combination for high-growth start-up firms and established companies working through cyclical downturns

Waltham, MA – April 27, 2010

– Boston Finex Group (BFG) marked its first anniversary in the business of outsourced accounting and finance services with a broad range of entrepreneurial firms as clients and, as president Cindy Go sees it, a ringing marketplace endorsement of its business model. BFG blends the expertise of on-site engagement managers with the power and cost savings of highly trained bookkeepers and accountants based in the Philippines, where financial practices and workforce professionalism are similar to those of the United States at approximately half the cost.

A native of the Philippines who holds a master’s degree from Columbia University, Go points out that her company’s rapid growth stems from its meeting two critical needs of entrepreneurial firms: cost savings and time savings.

The ongoing sluggish economy has made expense reduction a primary driver for privately held companies. Go stated that her company’s bookkeepers and accountants can be billed out at rates as low as $15 per hour, which is significantly less than standard Boston-area rates. She added that her clients prefer to have their managers focus on operations and business development while BFG’s professional staffers take care of all the basic, high-volume financial tasks.

“Each of our account managers is trained, certified, and extensively experienced with QuickBooks™, which is extremely popular with entrepreneurial companies. We work in full compliance with all U.S. laws, GAAP, and FASB standards, and monitor our quality control through data accuracy and security. We do all of the heavy lifting of data entry and accounts reconciliation seamlessly on the back-end so our clients can concentrate on growing their business,” she said.

Ted Acworth, founder and CEO of Artaic LLC, a Boston-based producer of custom mosaic art, called on BFG when he found that routine accounting and finance function were taking up too much of the time that he preferred to spend with his customers and members of his creative team.

“I realized that I needed help keeping on top of my accounts so that I could focus on my business. BFG quickly took control and addressed several problems that I didn’t even know that I had. Now I manage everything very efficiently. I have 110% confidence in BFG. They are always there when I call, and they’re amazingly responsive.”