Industry trends show that companies that have been asking the question ‘why outsource’ have become vocal advocates of the offshore model. Outsourcing work has come to be a tried-and-tested model and is recognized as a long term competitive strategy for success. The question going around now is not ‘why outsource?’ but ‘why not outsource?’
The economist, Adam Smith, says in his treatise The Wealth of Nations, “If a foreign country can supply us with a commodity cheaper than we ourselves can make it, it is better to buy it of them.” Outsourcing as we know it today is merely a progression of an idea that has existed since early days of trade. As companies grow in size and operations, it becomes increasingly clear that their focus has to be redirected to their core activities while the non-core functions can be ‘sent out’ or ‘outsourced’ to vendors specialized in that particular function.
According to a leading advocate of cyber laws, ‘India is the 12th nation in the world that has cyber legislation apart from countries like the US, Singapore, France, Malaysia and Japan.’
Have you found yourself faced with any of the following doubts in recent times?
- Are my resources being utilized effectively?
- Are my Current resources capable of supporting new technology?
- Is there a quicker, more effective method to handle processes?
- Does my team have the operational expertise to do the task assigned?
- Are we working at optimum costs?
If you are asking yourself the question ‘why should I outsource’, consider the following top reasons for outsourcing cited by companies that have successfully made Offshore Outsourcing work for them.
Top Reasons of Outsourcing:
Available Full Time: Companies that have an in-house bookkeeper find that problems may occur when the employee works part time, calls in sick, or even leaves the company on short notice. Outsourcing with us, you get full-time, reliable, professional accounting services
Overnight Updates: Continuous work cycle: infinitesimal oration scanned/faxed one day is processed overnight. See How outsourcing Works for more information on how the process works.
Off Load Non-Core Function: Accounting is one of the easiest business functions for a company to outsource. The efficiency of outsourced accounting services means that companies no longer need back-office accountants working at their location. This frees up space in your office so that a cost center (accounting) turns into a profit center (another sales person, estimator, attorney etc.)
High Quality Bookkeeping: Our clients are handled by a team of accounting professionals that have a level of expertise not normally found in small businesses. Our teams comprise of an Indian CPA Manager, Accounting or Bookkeeping Specialist and a Customer Support Contact who are trained and experienced at providing Managed accounting services. Your team is only a phone call, instant message, or e-mail away to provide prompt and accurate service.
Reduced Operating Cost: Managed accounting with us is cost efficient. You get a dedicated team for similar or less than what it would normally cost to hire one in-house employee.
Reduced Overhead: Not only do you save on salary but also you have no overhead, management, hiring or training cost when using an outsourced service. The overall savings can be up to 50%. Hidden costs of hiring an employee begins with paying for a classified ad, or even paying an agency to find someone. Next come the additional payroll taxes, an office space and computer and sometimes, benefits. All of these costs are not applicable when you use our services.
Overcome seasonal workflows: Industries in the U.S. and UK are subject to seasonal fluctuations in work and lack of workers during holidays and off-seasons. One of the advantages of outsourcing such processes to countries like India is that companies can deal with peak workloads and poor staff strength during vacations and holidays.
KIP is a provider of Top class services with experienced and Professional staff and Knowledge as its Power. We have delivery centers across India and office in USA and serving worldwide in domains like Accounting, Bookkeeping, Financial Reporting, Administrative Services, Business Set up in India and Taxation