By Sarah Stephens
Today, companies can easily outsource many business processes. One of these is accounting. Thanks to the Internet, these services can be conducted remotely over cyberspace. As a result, a company is able to save both time and money.
What is BPO Connect?
One of the technologies that has emerged thanks to the Internet is Cloud computing. In BPO Connect, accounting firms are able to utilize Cloud computing technology. The technicians at BPO Connect are able to form partnerships with accounting firms.
Through these partnerships, the latter benefit from information about the evolution of technology. The firms also get opportunities to outsource business practices and processes. In addition to that, they are assisted to plan the succession processes in the company as well as getting legal advice.
Despite spending money on installing equipment to process business information, accounting companies can perform even better if they outsource. Many of them even synchronize with sources of external data. Even after doing this, cloud computing is still more efficient and much faster.
Effects of outsourcing on an accounting firm
Many accounting firms are outsourcing their business processes. Once they do this, they are able to enjoy a number of benefits. These include;
- Scalability with no limits
- Value addition to the company
- An increase in profits
Outsourcing injects new invaluable business practices and frameworks into the accounting firms. Outsourcing also integrates the latest technology in the business processes of the accounting company.
In addition to that, an accounting company is able take all the labor-intensive work out of the company premises by outsourcing. This leaves the staff to focus on strategic activities that can make the company even more profitable.
The process of outsourcing the tasks in an accounting company happens in stages. The first stage is figuring out the maximum scope that the company wants to achieve. After that, the outsourced company or organization can implement this vision in well-defined steps.
Accounting firms are also able to achieve significant gains in aspects such as time and quality of the work that is produced. By outsourcing some of their labor to BPO connect, the firm is capable of getting a cost arbitrage that results in an increase in profits of between 10 and 20 percent. One of the special services that an accounting firm can get by outsourcing is assistance with creating a map for the cloud accounting ecosystem. The accounting firm is also able to benefit from the application of the best business practices in their internal processes.
Characteristics of a professional accounting tasks outsourcing company
When an accounting firm outsources their tasks, they should do so from a professional company. This is for the purpose of maintaining company integrity. Such a company has the following features;
- Robust infrastructure for Cloud technology
- Application of the best business practices
- Affordable rates
- Account managers for every accounting firm
- CPA professionals working in-house
In accounting, a company can outsource bookkeeping activities, accounts administration, SMSF set-ups as well as back-office activities. When a company outsources accounting responsibilities, they are able to enjoy flexibility because the arrangement is highly scalable.
Sarah Stephens is a CPA and a Cloud technology professional. She has assisted accounting companies to outsource their labor to companies such as BPO connect for many years. Her advice is described in this report.
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