An architectural group is waving the flag for outsourcing after announcing it has cut costs by 60 per cent since outsourcing its accountancy.

Red Box Design Group, based in Newcastle and Darlington moved its monthly accounting practice from an in-house financial director to an external chartered accountancy firm, it was reported in nebusiness.co.uk

It also managed to cut 50% of annual auditing costs thanks to the changeover.

Alan Smith OBE, managing director of Red Box Design Group told nebusiness.co.uk: “Cost control is more important than ever in this climate so to achieve 60 per cent savings on accountancy, such as cashflow, profit and loss and the balance sheet reporting, and another 50 per cent on the auditing, is pretty good going.”