We know what you are thinking. Why should I outsource my accounting back-office work to India?
If you are looking for better ways to grow your business, one of the easiest decision is to outsource your back office work to India. There are many reasons why a company should outsource instead of hiring an in-house team.
The majority of the outsourcing companies employ the best staff when it comes to offering accounting services. With multiple sets of skills for delivering the best services according to the preferences of the customers, outsourcing accounting services have become a present day norm.
Many companies have started outsourcing non-core tasks to the offshore back office companies and have gained strength to focus on activities that are more important.
Here are top 8 reasons why accounting firms and CPA`s outsource back office work to India
There are many advantages of outsourcing accounting to India. However, we have just listed eight reasons out of it. If you want to find out more reasons to outsource, please contact us.
The cost of labor is much cheaper in India as compared to the US. The cost factor is one of the primary reasons why CPA`s and Accounting firms should outsource to India. Even though the workforce is cheap, there is no compromise on the quality of the skills. All our bookkeepers and accountants are highly qualified. By outsourcing your work, you only pay for what you need.
Get More Time To Grow Your Business
Outsourcing your operations will free up your valuable time that can be utilized in building your business. Back office functions can be a distraction from getting more clients on the board and growing your business. Outsourcing your back office work allows you to delegate non-core functions and will let you maintain your attention on the activities that will make you successful and grow to the next level.
Transparent Pricing Options
Outsourcing back office accounting services to India is easy as companies have different pricing structures that can be utilized according to the services that have been availed from them. For instance, the transactions are different for accounts payable and receivable and separate charges for preparation of invoices. Besides this, the outsourcing companies do not charge for interacting with the parent company and conducting the follow-ups. A reputed company that outsources back office accounting services will rely on transactions that are clear and transparent.
Time Zone Advantage
As you know, time is money. If your CPA or accounting firm can get access 24/6, you can be sure of deliveries to your client much before the deadline. Especially during Tax season, our deliveries help our customers deliver before a time limit and in returns they can grow their business even further. Due to the Indian time zone is 5.5 hours ahead of GMT and 10.5 hours ahead of the Eastern Time Zone, we can deliver you even before your office is open.
Make Your Business Scalable
When you intend to expand the operations of your business, you have to identify the areas that need to be reworked such as cutting the cost in a certain field and adding more to another. It is possible to establish the long-term goals in business when you send some of the back end accounting operations to a company in India and envisage success in a more vivid manner.
Hire a Team of Experts
Obtaining help from the experts is good enough when you have to manage multiple accounting tasks. Therefore, sending accounting tasks to a team of experts that are aware of the tax codes and laws can save your business from the disastrous penalties that you have often paid for nonpayment of taxes. Whether it is a part- time accountant that you have hired or a full-time working professional, it is necessary to understand that there are loopholes and exemptions which are impossible for an individual to identify. You can avert this risk fully with the help of a team of professional accountants that are based in India.
Safety and Security of Stored Documents
When a business expands its operations, managing data and documents emerge as one of the major problems. Outsourced companies use secured document management system that not only offers the facility of storing the documents but maintain the highest level of security. After all, losing the financial records can have an adverse impact on the fate of the accounting operations. Public and private sector companies can rely on the services of the offshore companies for back office accounting services as they are automated, and there is no physical dealing.
Since our qualified accounting staff has experienced in most of the software’s used around the globe for tax & accounting, it becomes easy for you to send work without changing the technology platform. When accounting work is managed with the help of dedicated software of your choice, the chances of errors reduces to a great extent, and it is the reason why many companies choose India.
If you are convinced with the reasons for outsourcing your back office accounting services to India, the challenge is to find the right partner that provides the best assistance for managing key accounts and allows you render uninterrupted services to the clients.