Sunday, July 4, 2010 |
Bookkeeping can sometimes be hectic and can be very demanding mentally. The level of expertise is always high when it comes to putting in timely and accurate work in various types of account books for an organization. It is therefore an ideal solution to seek the assistance of experienced professionals who know how to consistently deliver the right results. However, the procurement of reliable specialized services is not only hard to find, it’s not kind to your bank account.
Technological advancements have made it possible to offshore bookkeeping work. Advancements in the service delivery capabilities of service providers have made it possible to do so without compromising the quality of work. Bookkeeping offshoring now yields many benefits to businesses across the globe.
The main benefit for bookkeeping offshoring, as with any service in the offshoring industry, is still related to cost. On top of that, a marginal amount of time is saved. Today, services such as employer tax expense, worker’s compensation, insurance, liability, and health insurance can be rendered in offshore locations where labor arbitrage is favorable to the client.
Client companies that are looking at offshoring as an option would do well to be reminded that because bookkeeping service providers are already adept at the craft, no interviews, recruitment or training process will need to be conducted in-house. In addition to that, there is no investment needed in operating infrastructure such as software, hardware, and office space as the service provider will have already secured the necessary workstations - allowing for a fast ramp-up time.
Bookkeeping offshoring opens client companies up to a host of options for updating their books. This, in turn, creates flexibility in which they are able to acquire services according to their requirements and corporate context. There are just as many choices in offshore locations as the actual processes to be transferred offshore.
The delegation of a task as burdensome as bookkeeping will allow the company to streamline existing processes. In effect, the company can return to activities that are crucial to its strategic direction and competitive edge. These can include services that can directly impact the revenue generation of a company such as customer relationship management and after sale services.
The benefits of outsourcing bookkeeping has been a proven strategy for large corporations as well as SMEs and start-ups - allowing significant cost savings, process optimization, and flexibility to divert time and energy where it counts: the core of the company.