The outsourced accounting department that is outsourced serves the same purpose as an in-house financial team although it is imposed by an outside company. It performs the functions of bookkeeping, payroll, invoicing, budgeting and financial reporting. This model is flexible, scalable, and has expert supervision. Businesses are able to customise services according to their demands making them cost effective and efficient. When the whole department is outsourced, the company does not have to incur the cost of recruitment, training and maintaining the internal department, but still gets the correct and timely financial data to make strategic decisions.