outsourcing work in Accounting to India – The Facts

As a business owner your time is best spent doing what you do well - working with customers. The time consuming effort involved in the job of bookkeeping add little or no value to your customer relationship. To remain competitive, it is imperative that a company rethinks its strategies, take a hard look at where they are creating value for their customers, then focus on those processes.

The most successful businesses of today have gone to online outsourcing and now have time and money to spend on differentiating themselves in the marketplace. If you are looking for ways to reduce overhead and focus on your core business, now is the perfect time to make the switch to outsourced accounting.

In a recent Accenture survey of more than 800 companies in the US and Europe, 86% of the companies said outsourcing work gives them more control over business results in a variety of critical areas, the most important being the ability to plan. While cost-cutting is among these key areas, the executives also reported equal levels of control in reliability, cost variability improvements and effective implementation of ideas.

Furthermore, 55% of respondents said outsourcing allows their companies to implement strategies and change at a faster and more controlled rate.

The most common reasons management chooses to outsource accounting jobs are to reduce operating costs, improve company focus, improve quality, free up capital, increase capabilities not otherwise available and to reduce cycle time.

By outsourcing your accounting your company could:

 

Focus on Core Buiness. Off-load non –core functions
Get access to World-class technology at lower rates
Get skilled manpower at affordable prices. Cost savings of 50% or more!
Increase customer satisfaction. Improve speed and service.

Beat Competition

India is a talent-rich country that exports software to more than 95 countries around the world. India has a mature outsourcing industry with world-class systems and quality. Not only does India offer technological edge, flexibility, time-to-market and a competitive advantage, it also offers world-class infrastructure and numerous incentives for foreign investments.

India is fast becoming a major outsourcing center of the world. With the rapid growth of the industry there has been a distinct increase in the opportunities in outsourcing work in India

According to McKinsey, India has the potential to process 30% of US transactions by 2010. Currently Indian BPOs are handling 8% of all US transactions. The outsourcing work to the Indian market has provided companies with cost effective quality solutions. The most important advantage by outsourcing bookkeeping jobs is that you can save the wages, payroll taxes, fringe benefits, worker’s compensation insurance, employee training and management, accounting software, office space and other costs associated with an in-house employee. Your costs could be reduced by up to 60%!

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