Issues of outsourcing accounting
Outsourcing of accounting has several issues and if not addressed properly, it can turn sour as it has been the case for several companies. Most accounting outsourcing vendors do not discuss about them as it will hamper their chance of getting new clients and winning businesses.
We in Integra are different. We want to be transparent about the issues, bring all potential pitfalls to the attention of our clients and work a way to address them.
From our experience, the major issues of accounting outsourcing
- Scanning of accounting documents
- Communication issues
- Understanding of UK accounting standards and regulations
- Privacy of information and data protection measures
Scanning is difficult – Many small businesses do not have a proper way to store the bills, receipts, invoices and they don’t generally keep them in order. Scanning of them is a tedious/time consuming task. The scanners are not adequately suited to address these issues. It is rather easy for me to do the work here than to send it to you.
Communication - Outsourcing is difficult because of communication. Most vendors are difficult to communicate with, don’t have a direct phone number, not respond to the emails properly and it is frustrating to find status of any work. Even when the emails are replied, they don’t answer my questions properly and it is annoying to work with some team 5000 miles away.
Lack of knowledge – There seems to be a distinct lack of understanding of how accounting works in this country and there is a massive gulf and is difficult to bridge.
Data protection & privacy- I am very concerned about the protection of my data and we don’t want to expose ourselves and our clients against this vulnerability. It is too much of a risk. Being an accounting firm, we have built this business for several years and don’t want to expose our clients and their details to you.
These are the major issues while planning accounting outsourcing and all these concerns are very valid and extremely important. We in Integra, believe by careful planning from both parties, most issues can be overcome.
How do we address these issues ? Let us discuss about them tomorrow..>>
For more information visit www.IntegraOutsourcing.co.uk
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Leave a Comment August 10, 2009