Five common doubts about accounting outsourcing

Five common doubts about accounting outsourcing

Five common doubts about accounting outsourcing

Accounts outsourcing is a very common practice in the accounting world. Many small firms and mid-sized companies opt for this option to the ease their operations and isolation from the normal business chores. It is however understandable that submitting the accounts of your business isn’t an easy decision. To help you answer a few of your doubts, we have come up with top 5 common doubts that arise while making this choice.

1) Data Security:

Accounts department of a firm is its oxygen in every sense. While outsourcing accounting, it becomes necessary to disclose vital and sensitive information. However, cloud technology and strict protocols are required to be followed by the entire firm who takes up the outsourcing work. We would suggest opting for a legal agreement of non-disclosure and confidentiality before you select your outsourcing partner.

2) Quality:

Work done by one’s own hand is always more reliable but that is not always possible. But this raises a common question on the quality of work. Many surveys have brought out that outsourcing firms have excellent track record on work quality. It is an obligation of these accounting firms to uphold the quality of work for their clients. Hence you do research about your partner well and hand over your accounts to well experienced and efficient people.

3) Costs:

While outsourcing any of your work, you often wonder if it will incur more costs on your firm. But the cost of outsourcing can be easily negotiated in advance before signing the contract with the outsourcing partner.

4) Control:

When you delegate your work to an outside firm, there is always a fear of losing control over your accounting. We feel it is very important that you select an outsourcing partner that has an effective and well functioning communication system in place. Your partner should maintain all transparency with you and your word has to be the final decision.

5) Practicality:

Many firms claim about services that they don’t really provide. This scenario is experienced by most small sized firms and thus there is distrust. However, there is a simple solution to this; you can enter into a contract of outsourcing for a short-term. By doing this, you can experience their services first-hand and if something doesn’t fit right, you can opt out of the contract legally.By the way BFAG can provide you these services for a trial period.

Are you also holding these doubts ? If you are still wondering whether to outsource or not, look no further than BFAG.

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