Reasons for outsourcing

Best performing companies offer their customers

Better customer experience
Faster response time
Cutting edge services

Doing all of this, while keeping costs down is a challenge. Your time, as a businessperson, is best spent performing the main tasks required for your customer rather than focusing on the accounting tasks. This even applies to accountancy firms. Time spent on doing accounting adds no value to your customer relationship or business growth.

To stay competitive, it is important for you as a business to rethink your strategy. Find out areas where you can create more value to the customers. Also offload tasks that can be a distraction.

Accountancy outsourcing is now an important strategic option available to you. It allows you to cut costs while giving you the time to focus on the growth areas. Large multi nationals are enjoying the benefits of outsourcing for some years. Now even small and medium business can enjoy similar benefits.

Benefits of accounting outsourcing

Cost reduction by 60% or more
Increased productivity and shared risks
Focus on growing business by offloading non-core tasks
Reduced variable costs from fixed monthly costs

How to plan for outsourcing?

There are some horror stories of outsourcing going wrong. With our experience and knowledge on this subject, we can tell you, this was caused because of three major reasons:

Poor planning
Hurried execution
Wrong choice of outsourcing partner

When you decide to outsource, the most important things to do are

Plan your outsourcing strategy
Identify the right offshore partner

The outsourcing partner should be flexible to match your needs, culturally a good fit for you, have ability and track record of executing the project and more importantly bring in knowledge & value addition to you.

The companies that went with clear outsourcing strategies have enjoyed great success in outsourcing and have outgrown their competititors and are now working from an enviable position.

Next step: What is the right outsourcing strategy? >>

“Thought it will take long to setup outsourcing”

I thought it will take time to set-up outsourcing. But after I contacted you, it was all done very quickly and you were ready to start immediately.

After setting it up, I realised, how my time could be effectively spent on billable work. I like your quick turnaround and next day service. I am very pleased with Ramesh and Kumar, their quick response and "can do" attitude. They show great attention to detail and I particularly like their questions- It's obvious that they are paying attention to things like unbilled expenses, un-cleared items etc.,

Colin Stanford, Guildford, UK

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Why outsource accounting?

Why outsource accounting? Are the cost savings real? Isn’t it a hassle to outsource accounting to a different country?
When you outsource accounting, though cost saving is the single biggest reason for your decision to outsource, there are many other benefits that can bring long term success. What are they? The two most important ones are 1) flexibility and 2) process improvement.

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Flexibility is a key benefit in outsourcing. When you outsource, it is very easy for you ramp up or ramp down the number of staff and this is key in planning your growth or while reacting to a bad market situation. This sort of flexibility is great for any company, as they can easily plan their growth and not feel too downcast when the business is not doing well. If not for this flexibility, businesses have to add more overheads during the growth and have to cut costs, retrench staff in down time.

The role of process improvement is very important as well. As a business it is very difficult to keep a focus on the changing scenarios of technology in the accounting space. But when you engage specialist outsource accounting provider they will bring in the knowledge for the process improvement.

Now the answer to the question is it worth the risk to try outsource accounting? When you consider the benefits, it is well worth the risk.

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Why Integra?

Reasons for outsourcing

Benefits of accounting outsourcing

How to plan for outsourcing?

Why outsource accounting?

For Businesses