Offshoring accounting services is a growing trend giving Global businesses a decisive competitive edge. Many companies who have previously been reluctant to consider offshoring are now realising the growth and opportunities adopting this business model can bring.
So what benefits does offshoring your accounting services offer?
In Australia, accountants often spend a considerable amount of their time completing tasks in order to adhere to compliance guidelines. While important, these compliance tasks take valuable time away from other revenue-adding tasks like advisory sessions. This is where offshoring with Origo BPO can really help. Origo will give your business a new accounting support team ready to take on these time-consuming, compliance-driven tasks so that your local team can focus on client-based activities like offering advice and improving your clients’ business.
Contrary to what people often think, offshoring actually gives you more control and security in your business, not less. Offshoring accounting services merely changes the course of the process of information already flowing through your company, you are still in charge of these processes. Confidentiality of information is now doubly secured as it becomes the responsibility of both your local team and your offshored team members to protect your data and mitigate any security risks.
Some typical tasks assigned to offshored teams include:
- Accounts payable
- Payroll accounting
- Tax records
- Accounts receivable
- Cash flow analysis
- Budget allocation solutions
- Financial planning and analysis
- Internal auditing