Hassle-free Accounting Outsourcing Process in 5 Easy Steps
Outsourcing of business processes started gaining popularity back in the 80s. It aimed at combatting the rising labour costs and the progressive trends in the global marketplace. Today, business owners outsource to improve business performance.
So after some due diligence, you have determined that you need to outsource accounting services for the success of your bookkeeping and, now you are here.
Worry not! You are in safe hands. Ernest & Co Accountants outlines easy steps to outsourcing accounting services.
- What is the outsourcing motive
- Select and settle for the right outsourcing partner
- Opt for the best model of outsourcing
- Engage your staff in the outsourcing strategy
- Draft an outsourcing plan
Motive for Outsourcing
Identifying drivers for outsourcing helps you understand if seeking outside services aligns with your business strategy.
Examples may include:
- The need for competent services
- Turnaround time
- If your firm is at a capacity crunch.
Right Outsourcing Partner
Just like you’d want to hire a qualified employee, a good fit with your service provider is paramount.
A good match is achieved through:
- Business goals
- Cultural compatibility
- Communication and infrastructure
- Track record and experience
The Right Model of Outsourcing
The most common models for outsourcing include:
- Project-style work
- Business process outsourcing
- Build-operate-transfer model.
Engaging Employees in Outsourcing Strategy
You may hesitate for fear of how they will take it out of concerns about their job security. However, the best way to go about this is involving staff in the accounting outsourcing process.
Change is good and surely inevitable. Assure local workers that their jobs are safe through the firm’s vision, answering their queries promptly and involve them in offshore employment.
Have an Outsourcing Plan
Your outsourcing plan forms the basis of ensuring a subtle transfer of your work to your service provider.
With a reliable accounting process, you will reap the benefits of outsourcing and, as a result, get more capacity in your firm and be able to work on and not in your business.
To learn more, check out our article on the benefits of the outsourcing an accountant.