Why Startup / SMBs (Small and Medium Businesses) Outsource Their Accounting and Bookkeeping Work?
- Posted by: omesh
- Category: Finance & accounting
Startup and SMBs are constantly struggling to achieve their goals in less time with minimal resources. For Startups and SMBs, it becomes critical to outsource their secondary work (such as HR, accounting and bookkeeping), which enables them to focus on their core business. Hiring an expert and professional becomes way more expensive; however, outsourcing is always a cost-effective solution.
Other benefits of outsourcing are that expert and professional manpower, reduced your cost, gain the advantage of 24*7 services, can focus on your core business, no legal HR hassle, data is always secure, and easy management of accounts via software-based automated operations.
Let’s try to understand how outsourcing can benefit your organization –
- Let Expert and Professional Manpower Manage Your Work :
Get services of highly skilled and experienced finance, accounting and bookkeeping experts having both domain and technical knowledge, with a well-defined automated process using the latest cutting edge technology serving clients across the globe for many years.
- Reduced Your Cost up to 50% :
Hiring onsite workforce becomes an expensive and time-consuming option. Outsourcing your accounting and bookkeeping may cut down your cost up to 50% as there are no establishment expenses such as no workspace cost, no infrastructure cost, and zero hiring cost. Moreover, labor and establishment cost difference at offshore is 40 to 50% less expensive.
- Advantage of 24*7 Service :
Global operations spread across different time zones ensure 24 x 7 availability of workforce and helpdesk.
- Focus On Your Core Business :
Startup companies usually struggle to achieve more in less time. So, outsourcing your accounting and bookkeeping work is always a wiser choice as you can save your time and completely focus on your core business activities, which is critical for Startup and SMBs.
- No Legal HR Hassles :
When you outsource, staff can be quickly augmented or scaled-down as per the requirement of your business. This leads to no attrition risk and zero employee liability – a win-win situation for you.
- Your data is Always secure :
Most of the outsourcing companies use the World’s top hosting companies like Azure (Microsoft Hosting Platform) and AWS (Amazon Web Services) which are most secure and safe hosting platforms as on date. Further with internal security at the application level, the data is completely secure with foolproof execution methodology.
- Manage your accounts via Software-Based Automated Operations:
Most of the outsourcing companies use software-based automated operations controlled by defined workflows tied up with SLAs (Service Level Agreement). This facilitates scheduled reports, reminders and a conducive collaborative work environment, document management system, which will improve operational efficiency, quality, and consistency.
- Conclusion: If your organization is into Startup or SMBs space, you must opt for a cost-effective outsourcing partner for your accounting and bookkeeping work, which will enable you to focus on your core business. Learn more: how to select the right outsourcing collaborates for your business.