Is a premium accounting outsourcing service expensive? Indeed, yet it is justified regardless of the cost. This should rely upon how you amplify and improve your utilization of outsourcing to get the best value for your buck!
To keep away from normal outsourcing fiascos, it is exceedingly prescribed that organizations don’t get enticed by the ground zero rates offered by very economical outsourcing organizations. While it is additionally obvious that some outsourcing firms that offer higher premiums don’t necessarily convey the best outcomes, hence it is imperative to consider all the options before you outsource your bookkeeping/accounting.
How about we crunch the numbers. When you look at the value offered by premium outsourcing organizations for the higher rate they charge you on the grounds that you are facilitated with the worry-free of paying the stipulated pay and other remunerations that you would have to compensate when you employ in-house staff or hire an on-site contractual resource.
Indeed, you can save a great deal with a cheaper outsourcing back-office service provider. What’s more, yes you can hire as many required resources or individuals working for you with little to no effort at a very conservative price– however, this kind of an approach is a strict no-no in running a business. The following are the potential downsides that companies may experience after working with low-priced outsourcing firms:
1) Messy Works: Let’s be honest, we get what we paid for. So on the off chance that you paid under $10 for a bookkeeping job, expect to get a hasty and untidy outcome. Of course, you may yell and abhor the offshore accountant, however, that is not going to change everything except if you change your service provider ASAP to a top-notch outsourcing partner.
2) Distressed Communication: Offshore organizations normally hire staff with English as their second language. Most low-priced outsourcing firms cannot afford to provide proper or required training to their staff that can improve the correspondence capability, aptitudes of their workforce to such an extent of their clients’ way of life. The drawback of this is when accounting staff is given a complex and confounded task or guidelines, barely there is an understanding of the directions. This could influence how they execute the assigned task, which can prompt a discontent from their customers’ expectations.
3) Additional Time Wasted: Many offshore companies that utilize remote accounting staff, who might work either at home or bistros. Such an arrangement leaves employees unsupervised and diverted in the event that they don’t have a practical situation or proper setup for working. While there are proficient workers who might perform with such an arrangement, there are some who are lackadaisical will only yield messy and unsatisfied outcome for you.
4) No Review or More Review: As a result of cheap outsourcing the outcome of work frequently remains unacceptable, customers look for a thorough review or updates by a professional CA/CPA notwithstanding for a solitary assignment, which can cause the delay as against the anticipated deadline. Likewise, some low-priced outsourcing firms set limits as to a number of review/update required for the job. As a result, the client has no choice but to keep reviewing again and again and raise queries which will increase the turnaround time combined with frustration.
Apart from cost-saving of in-house accountant or bookkeeper organizations can appreciate many significant advantages by rendering services of premium accounting outsourcing companies. These advantages include the following:
1) Skillful Employees: Premium accounting outsourcing organizations, not just scout and enrol qualified and experienced staff, they have the willingness and ability to provide an on-going training to their specialist’s to the prerequisites of their customers for the technology and software, amendments as per ATO Rules and Regulations and new federal budget.
2) Contingency Plan: Since they charge higher for their accounting back-office services, premium outsourcing organizations could never let the guard down or let their reputation decline. It is imperative to have an alternate course of action set to guarantee that any untimely or unexpected issues are secured.
3) Ensured High-Quality Outcomes: From scouting to enrolling, premium accounting outsourcing organizations search for best of all in the workforce to give to their customers. Accountants or bookkeepers are not just chosen in view of their abilities and qualification, but also how they can unquestionably meet the required education and training and maintain a positive attitude at all times.
4) Imperative Security Measures: Premium accounting outsourcing companies ought to ensure the highest level of both the physical (Security passes to enter office) and technology (e.g. restriction of access, the use of encryption, passwords and digital certificates) security measures to protect the personal information of the client. Ensure that personal information is stored on secure servers that have SSL certificates issued by leading certificate authorities. Adopt document retention policies and processes. All employees are required to sign confidentiality agreements, and no personal information is disclosed at any given point of time. Staff only uses secure logins to access data to be processed.
Talking about the advantages of utilizing premium accounting outsourcing services can be unending yet the points of interest displayed above are sufficient, to help you make a right choice with sound judgment.
Investing in a premium accounting outsourcing services, with a strong reputation and proven record, you can save as much as 50% on your current expenses incurred for an in-house accounting/bookkeeping staff.
At SNS KPO we offer premium back-office services for all of your accounting outsourcing needs without compromising on quality and delivering on-time results. You take the credit, we process the debit.