With so many benefits associated with offshore outsourcing, it’s a wonder why there are still some companies that don’t take advantage of it. Outsourcing customer service, data entry, digital marketing, and web design, to name a few functions, is quite popular. However, outsourcing accounting and bookkeeping may come off as a sensitive aspect. Why?
As a top BPO company in the Philippines offering a wide range of outsourcing solutions including accounting, we’ve already talked about the benefits of outsourced bookkeeping and accounting many times before. In this post, however, we’ll explore the reasons why some companies are still hesitant in deciding to outsource their accounting needs.
Top Reasons Why Companies Don’t Try Outsourcing Accounting and Bookkeeping — Yet
Different companies have different reasons why they hesitate to outsource their accounting requirements. Many of these reasons are actually valid ones. But by looking at them more closely, we’ll try to understand the source of these reservations and show why business owners should think or feel otherwise.
Reason #1: “My business is still small.”
Owners of small businesses tend to put off hiring a professional accountant or bookkeeper because they think it’s expensive. They do their best to maintain their books and accounts themselves to save on costs. However, this is a dangerous move because accounting and bookkeeping require specialized skills.
Outsourcing accounting and bookkeeping allows you to work with a professional accountant sans the cost of hiring one locally. So, if you are a small business owner who needs to be free of stress associated with doing your own accounting, then outsourced accounting could be for you.
Reason #2: “Our in-house team is doing alright.”
There’s that old adage that goes, “if it’s not broken, why fix it?” Indeed, it’s natural for small business owners to feel a bit skeptical when exploring new processes. After all, not everyone can afford to fail and try again.
When running a business, it’s always wise to be cautious. Fortunately, there are ways to make sure outsourcing works for you. For one, you need to choose the right BPO company to work with. Then, you must make sure that your in-house and offshore staff establish a collaboration synergy. If you get the first one right, the BPO company will ensure the second is achieved.
Reason #3: “Our business does not use online accounting methods.”
Technology is now everywhere. However, there are still businesses that do things the traditional way. Some businesses still keep paper-based books, invoices, and receipts. While this is absolutely fine, it keeps them from reaping the benefits of cloud-based accounting platforms.
Furthermore, a time will come when everything will be processed online. This is why it’s advised that businesses begin their digital transformation ASAP.
If your accounting is not on the cloud yet, outsourcing can help. With outsourced accounting and bookkeeping, you won’t have to start on your own. You will have the support of accounting professionals. What’s more, you don’t even have to spend as much as you would if you hired an accountant locally.
MCVO is Your Partner in Outsourcing Accounting and Bookkeeping
MCVO Talent Outsourcing can help you with a range of accounting and bookkeeping requirements! Talk to us about our accounting solutions. Book a call now to get started!