Outsourcing finance & accounting
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For every company, the financial stability is one of the main goals in achieving company success. As such, it is absolutely necessary to have proper and accurate financial accounting procedures in place to achieve the company’s financial health.
A lot of businesses and entrepreneurs have embraced outsourcing various business functions including finance and accounting. But, why should you consider outsourcing in your business? Would known outsourcing benefits help your business achieve its utmost potential in the industry? With the advancement of technology, the way we do business these days is far different from how things are done before especially when it comes to finance and accounting. Sometimes, it can even be hard to keep up with the changes in the technology as well as the constant changes in accounting policies.
There is a reason why businesses outsource finance and accounting services from external service providers. For one, the biggest reason is the affordability of quality accounting functions. Outsourcing accounting personnel for a specific task proves to be more cost-effective and often even cheaper compared to hiring a person in-house and building your own accounting team. Another reason why outsourcing has become famous in finance and accounting is the already available and established processes that service providers have. They don’t only offer personnel but also tried and tested accounting processes like invoicing, paying bills, and reconciling accounts that can make the entire process faster. It means that you can now avoid the regular headaches you get when organizing your business accounts.
Another reason to outsource finance and accounting is the availability of experienced people and staff from outsourcing companies. They offer services that are task-specific which require them to be trained, knowledgeable, experienced, and certified for it. It means that when you outsource, you can get an expert to do your finance and accounting tasks, better than a regular in-house employee who is not an expert for the job. Accounting involves a lot of organization from all processes and documents that come with it. Sorting everything out requires a lot of time and effort. But, when you outsource this function, you can relax and give more focus on improving your core business functions. Hiring experts for the job also gives you a guarantee that it will be accomplished with little to no errors and discrepancies. When it comes to a business’ accounting documents, a CPA would always be a great help in sorting out and reconciling every data. However, hiring one in-house can be extremely expensive. Fortunately, you can outsource an accountant for your business. Outsourcing a CPA can greatly make your accounting issues so much easier.
One of the reasons why outsourcing finance and accounting services have become well adopted by a lot of companies is because it offers a certain level of reliability. When you hire an outsourced accounting service, you get reliable support. Unlike when your in-house employee had a sick or vacation leave, service providers often have a secondary staff to fill in whenever one of their personnel is not available. There are a lot of small yet extremely intensive tasks involved in keeping your business accounts organized and updated. Fortunately, with outsourcing, you don’t have to deal with the daily redundant and time-consuming finance and accounting tasks. You can let your outsourcing partner do the hard work for you, and you can give more attention to revenue-producing business functions.
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“I have used Alex to provide myself and my students with Virtual Assistants from the Philippines. Alex is always mindful of our needs to find the best quality person for the job. Alex handles all the co-ordination, payments, and issues with the VA’s that make it easy to do business who are in the Philippines.”
“I have worked with VA4REI since 2012 and it’s the best business decision I have made, having a reliable, knowledgeable and dependable virtual assistant which with very little training can help do all do little things that my business requires such as data entry, data sorting, marketing, etc. that is extremely necessary but time-consuming and low income producing, being able to delegate that so I can focus on high income-producing activities is the best decision I have done for my business.”
“We are very excited about the future of our business and embracing new technology as well as having a permanent solution for our staffing requirements. I can highly recommend PMVA’s Service”
“I can honestly say that by outsourcing our Property Management tasks with the help of PMVA has allowed us to keep on track with our rent roll growth goals.”
“We’ve been extremely happy with our decision to work with Sourcefit. Our industry is extremely competitive and outsourcing has been an important part of our strategy to lower costs and boost service levels. Sourcefit has provided excellent staff and helped us to integrate them with our local team and our overall process. We’ve been extremely happy with our decision to work with them.”
“All those jobs that you and your people don’t like doing, or just don’t have time suddenly get all the love and attention to streamline your day to day business and system. You have to be mad not to get on board for this value.”
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Hear from business owners across the globe who use and benefit from outsourcing.
99.99% applicability: Outsourcing can applied to almost any business in almost any business sector
Transformative: Outsourcing is possibly the most transformative business tool available today
Save 70% on staffing costs: You can save as much as 70% on staffing costs, enabling your company to flourish
Drive innovation & growth: Access to cheaper more abundant resources allows your company to drive innovation and growth
Outsource Accelerator is the trusted source for independent information & advisory for Philippines’ Business Process Outsourcing (BPO)
Outsource Accelerator is the world’s leading platform and marketplace for outsourcing. It specifically promotes Philippines outsourcing to the world.
The Outsource Accelerator website has over 3,000 articles, 200+ podcast episodes, and a comprehensive directory with 600+ BPOs… all designed to make it easier for clients to learn about, and engage with, outsourcing.
Outsource Accelerator is not a BPO, and will never provide outsourcing services. That is why it can be trusted by everyone in outsourcing. We offer advisory services related to outsourcing, but not actually outsourcing.
Derek Gallimore has been in business 20 years, outsourcing 6+ years and living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.
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