Reasons why you should Outsource
Improving the bottom-line is one of the biggest challenges faced by any organisation. The easiest way any organisation can achieve this is by outsourcing their non-core operations. Undoubtedly, outsourcing is fast becoming a strategy for forward thinking CFO’sand Accountancy firms. No longer just a means of reducing costs, it has become a tool for adding value to business, simultaneously enabling organisations to concentrate on their core business, Furthermore, it frees up managerial time helping them to re-engineer business processes and ensure quality & cost control. Remember, you are in the business of making money so leave the counting to your outsourcing partner.
A few key reasons for outsourcing your operations.
Better use of time: Typically more than 75% of resource time is utilised in transaction processing leaving only 25% to be utilised for higher level analytical review. By outsourcing, you free up valuable time that can be better utilised on bringing in efficiencies through process improvements or securing new customers.
Reduced costs: Having an in-house accounting team means you have to incur hiring and training costs, pay wages, paid time off, spend more on payroll taxes, employee insurances, and other benefits. You will also be spending more on providing infrastructure and facilities for your employees. Outsourced operations save you money by eliminating these costs and you pay only for the work they are doing for you. This results in significant saving in your monthly operational costs.
Enhanced Business Continuity: Valuable knowledge walks out of the door when a key accounting personnel leaves your company. An outsourced operation mitigates this risk and thereby enhances business continuity.
Scalability: Since business is often unpredictable with its own peak and troughs, you may not always have the right number of staff members with the appropriate skills for your current workload. Outsourcing can help you handle such difficult business situations, by giving you access to skilled people, as and when you require them. Whether you require less or more resources, outsourcing can provide your company with a certain level of scalability.
Why should you outsource to India?
India has an enormous supply of qualified and fluent English-speaking workforce. Indian professionals speak better English than other leading outsourcing destinations. Infrastructure and labor costs in India are lower when compared with the developed and other developing countries. When compared with other outsourcing locations, India has a stable government that has been firmly built over years of democracy. Hence, India is an obvious choice, more so for back-office data processing, finance & accounting outsourcing services, and sectors where Human Resources are the key factor. Over the years, the United States, Canada, Europe, and the United Kingdom have recognized the country of India as an outsourcing superpower. There is no dearth of companies who have made or are already in the process of making India an outsourcing base due to all these reasons.