Outsourcing has become a popular trend in this hectic lifestyle, and it is a win-win situation for everyone who is involved in it. It allows CPAs a little extra time if someone else is taking care of their routine work. Accounts outsourcing has been a looming industry in India.
When it comes to outsourcing of accounts, India has been the most favored destination, and of course the reasons for this are valid.
1) Certified Domain Expertise: Outsourcing allows business owners to leverage the expertise, experience and operational accuracy offered by professional accounting outsourcing companies. Industry expertise, qualified and experienced staff and deep process orientation are some of the features of outsourcing.
2) Data Security: Accounting data are very sensitive; hence safety and security of data is of utmost concern. Outsourcing partners sign confidentiality agreements with the clients before the project starts to ensure that all the client data and other critical financial information is completely safe.
3) Scalability: This allows the firm to move briskly and tap the available opportunities without any backlash in operations. BFAG offers complete F&A services across multiple industry verticals in a completely scalable model.
4) Lower Cost & Higher Benefits: The most important attribute of outsourced accounting services is getting a cost advantage. Many organizations find that Outsourcing is the most logical option for sparing the company cash. The labor cost in India is much lower as compared to other outsourcing locations, but that doesn’t mean the quality of work is poor. India has the highest ISO certified companies, so the quality is nowhere compromised.
5) Time Zone Advantage: This difference in time zones has worked wonders for most companies who have outsourced their work to India. The 12-hour time differences between India and USA provides companies with plentiful opportunities for work to be completed earlier than predicted, leading to do other crucial accountabilities on time. So, India can serve 24/7 to various countries.
6) Help & Support: These outsourcing partners also help the firms to get update about any changes in the legislation that might affect the business. If these firms are situated abroad, the outsourcing providers usually tie-up with the legislating authority of that country. This ensures that the firm owners or their employees do not waste time in keeping up with the compliances.
7) Innovations: The service providers not only ensure your accounts are taken care of, but India being the IT hub for the world, the providers do the work by implementing new and quick technologies! With access to some of the latest accounting tools, Indian service providers can assure you to deliver the best-quality results within a quick turnaround time. India has an excellent talent pool and have experts in data center hosting and can design excellent software applications, thereby adding value to business.
8) Balance: Isn’t it wonderful that someone else takes care of your financial year end and you get a little time off for yourself! These providers work independently, ensuring that the work is not interrupted or delayed because of any other issues. This means, by the time you prepare for the end of financial year to file your returns, these people have already got your back and kept the work ready for you!
These are the favorite top five reasons why India is accounts outsourcing’s center! At BFAG, we help you maintain the efficiency you deserve in running your business! we have developed immense expertise in facilitating superior quality services within shorter turnaround times and competitive pricing. Need more assistance, contact us and we will be at your service!